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Politics : Mainstream Politics and Economics -- Ignore unavailable to you. Want to Upgrade?

To: i-node who wrote (38417)	2/4/2013 11:28:29 AM
From: Wharf Rat	Read Replies (3) \| Respond to of 85487

Only on Planet Teabag, where fantasy rules. In the real world, simply more evidence, along with this, that everything you "know" is wrong. Austerity Pushes British Economy Toward Triple-Dip Recession Quicklink submitted by Amanda Lang Permalink January 25, 2013 The conservative Tory government's austerity policies are pushing the United Kingdom toward an unprecedented triple-dip recession, as the UK's economy contracted 0.3 percent in the fourth quarter of 2012. If the economy slumps again in the first quarter of this year, the two consecutive quarters of losses will mark Britain's third recession in four years. British Prime Minister David Cameron and George Osborne, the nation's finance minister, eschewed stimulative policies when the Great Recession began, choosing inside to pursue swift deficit reduction to address the nation's long-term debt. The result has been unfortunate: as this chart from the Guardian shows, the British economy has now contracted in four of the past five quarters (the London Olympics, which helped the British economy, occurred during the one quarter of growth): opednews.com