Think about how much cheaper it would have been if the UK hadn’t shoved “austerity” down their country’s throat.
When the recession began there were many wise words about having learnt the lessons of both the Great Depression and Japan’s long malaise. Now we know we didn’t learn a thing. Our stimulus was too weak, too short and not well designed. The banks weren’t forced to return to lending. Our leaders tried papering over the economy’s weaknesses – perhaps out of fear that if we were honest about them, already fragile confidence would erode. But that was a gamble we have now lost. Now the scale of the problem is apparent, a new confidence has emerged: confidence that matters will get worse, whatever action we take. A long malaise now seems like the optimistic scenario.
Won 1, lost 2, one still up in the air. But it’s from Waukesha, where our favorite election official is playing games with the totals.
Joe Strummer and the Mescaleros:
Scroll down for lyrics.
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