Even pro-stimulus post-budget reports here in the UK are struggling to ignore quite how astonishingly indebted we have been, we are, and quite how long it'll be before we can pay any of this mountain of debt off. I may well have had my mid-life crisis by the point at which Britain counts as a prudent economy once more.
So, truth or not, it's relieving to hear that at least one smarty-pants has hope for us. The UK stimulus package and the dramatic fall in the value of the pound bode well for our economy, according to Paul Krugman. "Right now I'm actually quite hopeful about Britain," he says.
By my (probably dodgy) calculation, the early stimulus over here combined with our chronic debt situation may well make Britain a perfect test case for the rival economic models of today's left and right. Whichever comes first - national bankruptcy or national recovery - we'll be able to content ourself at least that we're contributing to the stock of general knowledge about macroeconomic policy.
So that's alright then...!
Think Of the Children
1 hour ago
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