Thursday, August 4, 2011

The only way is not up

Whatever George Osborne believes, Britain will spend years in the doldrums

'What almost everyone does agree on, however, is that, to thrive anew, the UK economy must structurally rebalance, away from undue reliance on consumption and towards exports and investment.' Argues 'it may be necessary to move quickly towards applying some of the policy tools used in command economies such as China – cheap loans, land and energy for publicly determined business and infrastructure investment.' Fails to mention high housing costs don't help... but hints at it, if you are minded to include 'consumption' and 'cheap land' and all that entails. Low interest rates, it would seem, are set to persist into the long foreseeable future Suspect the late Chairman Mao is laughing in his tomb

Posted by stuartking @ 12:31 AM (3710 views)
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