IMF: We Were Wrong About Austerity.
Unemployment spiked in Europe since 2010 when austerity mania became all the rage. Now we are on the march to austerity in the United States.
The Observer: George Osborne’s austerity is costing UK an extra £76bn, says IMF.
That is basically what we are being told makes sense when people insist that lowering taxes and cutting government spending and regulation will fix aggregate demand: a bunch ring of old rich white guys will turn into a bunch of early 90s era MC Hammers who hire anyone that needs a job until it literally hurts. If that fails, [...]
PM Carpenter comments on the Times report on Britian after a year under Cameron’s Austerity measures that Sullivan loves: We need not welcome ourselves to the Paul Ryan vision of a Path to Poverty. David Cameron is doing it for us, which J. M. Keynes could have told him 80 years ago would result in [...]