Quote:
Originally Posted by Ignitionnet
Except the LibDems won't get twitchier as they are relying on the economy recovering to justify their support for the austerity measures and restore their popularity to some extent with the electorate. They know that leaving the coalition right now would be suicide as they leave with little to show for it in the way of genuine results.
You don't need to be an economist to have an opinion, it's just a measure of how educated that opinion is.
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Anyway. A further argument against and demonstration that this Tory-led approach of huge cuts to public services, uber capitalist, market fundamentalist approach to the economy and generally low tax, low spending approach doesn't work:
Sweden. High taxes. High public spending, allowing tax cuts to fight recession. No austerity shocks. Lots of jobs around.
Public spending, like it or not, is the key to a smoothly running, shock resistant economy. Also, Germany. Increased spending, came out of recession before anyone else.
UK. Increased spending initially, rode out the worst of it, and now since this government came in, we've had 3 successive quarters of slowing growth and now shrinkage of the economy.
They're simply incompetent, but not only that, downright bloody irresponsible.