Black smoke has poured from the Sistine Chapel chimney, signaling that cardinals have failed to elect a pope on their first try.
Andre: They are all stuck at Keynsian model. We tried it with a $1T stimulus for "shovel ready projects" and predictably it failed to move the needle. The only result was a higher deficit due to wasted money. Governments love Keynsian approach because it helps them to payoff their cronies and to buy votes.