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Chancellor Gerhard Schröder had hoped to revive consumer confidence by accelerating a tax cut to next year from 2005.
Mr. Cavallo's strategy to date, Mr. Stock said, is built mostly on using his reputation to revive consumer confidence and to prompt Argentines to start spending again.
And while stock prices for retailers as a whole have risen lately, partly on expectations that the recent interest rate cuts by the Federal Reserve will help revive consumer confidence and partly due to stronger-than-expected January sales, many retailers are suffering from sharply lower prices on Wall Street.
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But low interest rates and slowly reviving consumer confidence, plus a bunch of private-equity firms convinced there was an opportunity in buying up homes cheaply, eventually brought the market back to life.
It would be another for Mr. Bush to rewrite his $1.6 trillion, 10-year tax proposal to put more money into people's pockets in the next year or two for the express purpose of reviving consumer spending and confidence.
Investors are lining up to buy new shares in companies with stock markets near record highs, the economy reviving and consumer confidence returning.
Such deals might revive consumers.
In Britain, consumer confidence revived in April from an eight-year low.
The second, more important, is to let loose Keynesian animal spirits to lift sagging consumer confidence and thus revive the economy.
Consumer confidence has also revived.
Consumers remain nervous, largely because they are still fretful about their jobs; but, with unemployment now starting to come down, consumer confidence looks set to revive too.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com