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View Diary: British Economy Worst Since 1830, Says RBS (18 comments)

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  •  I just love Paul Krugman: (17+ / 0-)
    Consider, in particular, the case of Britain. In 2010, when the new government of Prime Minister David Cameron turned to austerity policies, it received fulsome praise from many people on this side of the Atlantic. For example, the late David Broder urged President Obama to “do a Cameron”; he particularly commended Mr. Cameron for “brushing aside the warnings of economists that the sudden, severe medicine could cut short Britain’s economic recovery and throw the nation back into recession.”

    Sure enough, the sudden, severe medicine cut short Britain’s economic recovery, and threw the nation back into recession.

    To make the argument that the media has a left- or right-wing, or a liberal or a conservative bias, is like asking if the problem with Al-Qaeda is do they use too much oil in their hummus. Al Franken

    by Youffraita on Sat Jan 26, 2013 at 12:36:23 AM PST

    •  "No one could have foreseen..." (7+ / 0-)

      that line from Condi Rice about 9/11, that should just be engraved on the heads of every prominent politician in the West.

      WTF do you mean, no one could foresee...?

      Markos! Not only are the Gates Not Crashed, they've fallen on us. Actual Representatives are what we urgently need, because we have almost none.

      by Jim P on Sat Jan 26, 2013 at 01:01:10 AM PST

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      •  Isn't that why they are placed in that position? (3+ / 0-)
        Recommended by:
        Jim P, Calamity Jean, Eric Nelson

        To foresee? Anyone can react to what has happened. What you need in a leadership role is someone who can anticipate. Cameron is such an unmitigated disaster, but it looks like the Lib Dems are the ones paying the electoral price. They were fools to forge a coalition with Cameron. Better to have had a minority government than that stupid coalition. On the bright side, we now have a textbook demonstration of the power and validity of Keynesian economics. Case closed on that one.

        For if there is a sin against life, it consists perhaps not so much in despairing of life as in hoping for another life and in eluding the implacable grandeur of this life. - Albert Camus

        by Anne Elk on Sat Jan 26, 2013 at 07:44:47 AM PST

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