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The stupidity of the current macroeconomic stance in the UK is surprising in itself; but when combined with similar voices in Europe and the US, it is downright astonishing.
That's not to say that there's nothing weird about America's food habits, of course: recent research has supported the link between America's macroeconomic stance and its obesity problem.
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Our results suggest that flexible exchange rates and strong macroeconomic policy stance with sound institutions are necessary but not sufficient for redemption from original sin.
Townsend documents the extent of reform by developing a typology for comparing the fiscal, monetary, exchange rate and overall macroeconomic policy stance of African countries, in order to aid the comparison of the efficacy of reforms across countries.
"With or without macroeconomic recovery, our stance is buy," said Panmure Gordon analysts.
Nonetheless, the new administration is likely to remain orthodox and pragmatic in its macroeconomic and foreign policy stances.
That is testament to the consensus in mainstream macroeconomic circles about the right stance for monetary policy now, and the durability of the framework Mr Bernanke has assembled.
Gradual reforms and consistent monetary and fiscal policy stances have also sustained macroeconomic stability..
Although the issue most regularly considered important by voters is the NHS, in recent weeks party political agendas – from Ukip's stance on immigration to the Conservatives' macroeconomic plans – have pushed social issues to the margins.
Monetary, fiscal and, more recently, macroprudential policies take into account the output gap estimates the difference between potential and actual output to adapt their stance in order to reduce possible macroeconomic imbalances/disequilibria and dampen aggregate fluctuations.
Therefore, it will be necessary for the governing council to review and possibly reconsider the ECB's monetary policy stance in early March, when the new staff macroeconomic projections – also covering the year 2018 – will become available," it said.
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