| Aghast |
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For those who advocate Britian's plan for here in the US, they are back in a recession. Also Cameron is in bed with Murdoch. |
| catalan |
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Could be worse. At least they're not Spain. |
| asdfe |
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A 0.2% drop from an expected 0.1% increase sounds like statistical noise. Especially since these numbers are often revised in the following months. I think it is hard to say what the overall affect of the austerity measures are this early. It'll be several years before we can see the true results. |
| Aghast |
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Okay so it is safe to say then, zero real growth. That is a great success. Time for a vote of no confidence for Cameron. If it is not the economy it will be Murdoch's trial which will take him down.
A 0.2% drop from an expected 0.1% increase sounds like statistical noise. Especially since these numbers are often revised in the following months. I think it is hard to say what the overall affect of the austerity measures are this early. It'll be several years before we can see the true results.[/quote] |
| Precious Roy |
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Greece is looking at 5% contraction of their economy due to austerity measures. Radical austerity measures can sometimes be a means to an end when a country is racked by hyperinflation. Brazil and Argentina both emerged from very drastic austerity programs after hyper inflation set them on a course for disaster. But, EU does not have an inflation problem. The EU has a structural problem. Individual countries are allowed to rack up debt and put the currency at risk without any procedure in place to remedy or prevent fiscal issues. The result is that crisis linger on and on because it is very difficult to get all the member nations to do anything timely and decisively. The other problem is that tax collection can be a joke in many EU countries. In Greece and Spain, the wealthy generally do not pay much in taxes by using tax havens and outright cheating. |
| assddfe |
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Also, there is a very strong black market in Spain and Greece, so many individuals pay no income or sales tax. This is part of the reason these countries have such high official unemployment rates - the employment of many is not documented. |
| p.n. |
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"Britain" |
| Unorthodox going ons |
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The economy was actually quite healthy before the cuts, the Tories simply manufactured a "debt crisis" out of thin air when the only reason for the rise of the deficit was due to the succesful bail out. It stands to reason that you let an economy grow to the point where you can afford to close the deficit, rather than, as the Tories' masterplan was- talk the economy down, scare consumers and businesses, and then take money out of the economy. |
| BRG/253 |
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1. The argument for austerity isn't that we need it to resist recession. It's that we need it to allow a recession. 2. Britain isn't austere; it's just less spendthrift than the U.S. |
| Flagpole |
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Apparently there is still debate about one of the quarters with some insisting it wil be revised as a slight gain, but even if Britain is in a recession again, it is NOT a double dip recession...too much time has passed since the last one ended; it would simply be another recession. |
| luv2run |
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Let's see debt piled upon debt since WWII and one year of "austerity" caused this recession? They had recessions before and will again. |
| And that thing also |
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Could be worse. At least they're not Britain. |
| Hayek |
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So we should just follow the Keynesian bullshit and allow people to just throw money at our problems? Good idea, bro. |
| just saying |
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Alright so at least you are finally willing to put out the Republican plan for our economy in plain terms. Despite complaining about what Obama has done for the economy their plan is to do less so that we have a "real" recession, since that last one didn't impoverish enough people. |