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Politics : Formerly About Advanced Micro Devices
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To: TimF who wrote (643840)1/28/2012 1:50:47 PM
From: tejek  Read Replies (1) of 1582927
 
Vote of no confidence has crushed Britain's economic recovery

Fourth-quarter GDP figures will show that Britain is in a Japanese-style depression lasting well beyond the usual cycle of a recession

Here's a chart showing Britain's gross domestic product performance in the Great Depression and three recessions prior to the current one. In case you're afflicted by a bit of colorblindness, as I am, that line which flattens out at minus 4 percent on the far right of the chart is where the U.K. is now:



[The above chart clearly shows how ineffective an austerity response to recession is.]

More from the UK:

Much of the UK's plan for recovery from the financial crisis was based on a full-throttle recovery in 2012. This was going to be the year that a return of consumer confidence, business investment and general spending would converge to send the economy on a trajectory of above-average growth. Maybe we would even get back some of the output we lost in the crash. [...]

Business investment has already slumped and confidence indexes show few consumers are ready to spend outside key periods such as Christmas. [...]

And the lack of investment will perplex ministers. They have done what the right-wing economists told them to do and moved out of the way — the theory being that public sector spending and investment was "crowding out" the private sector.

http://www.guardian.co.uk/business/economics-blog/2012/jan/23/economic-recovery-confidence-britain
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