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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?


To: TimF who wrote (643840)1/28/2012 1:50:47 PM
From: tejek  Read Replies (1) | Respond to of 1583391
 
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



To: TimF who wrote (643840)1/28/2012 3:13:33 PM
From: tejek  Read Replies (1) | Respond to of 1583391
 
Tim, I am sick to death of you all trying to rewrite history. The recession in 2001 was a mild one

Nice straw man, I never said it was severe.

Go back and read what you wrote. No strawman.

I said that you overstate the difference. A mild recession and a severe recession might be more like the difference between a strong gale or tropical storm, and a category 1 or 2 hurricane (with cat 5s being something like the great depression), not like the difference between a spring rain and a monsoon.

Oh please..........you are mincing words. I don't have time for such silliness.

I also said the difference wasn't relevant to the point being discussed. The fact that the later recession was more severe, doesn't change the fact that Sullivan distorted the picture, either carelessly or dishonestly. He talks about adding jobs when there has been a net loss of jobs for Obama. Nothing about the relative severity of the recessions is relative to that point. He assigns both the recession Bush inherited (technically it started the March after he took office, but he hardly caused in in those few months), and the recession Obama inherited to Bush. Really assigning recessions to presidents is somewhat unreasonable to being with, presidents don't have that level of control over the economy, at least not most of the time, but if you do want to make such assignments, you can't reasonably assign both to Bush.

No one said Bush caused the first recession. However, he did cause the second one. It clearly showed how bankrupt conservative ideology in this country is. And if you have any doubts see the mess Cameron is causing in the UK with the same bankrupt ideology:

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