This does look very much like the other shoe dropping. The fall may be influenced by the fact that the Republican attempt to force a deficit cut has ended up with business as usual and only promises of restraint some time in future. It is also influenced by the bailout of the Euro having been nothing but smoke and mirrors. They do not appear impr5essed by EU President Barroso ticking off the markets for not trusting this "bailout".
However 2 tings to keep in mind.
Firstly there simply isn't any world recession or likelihood of one. Throughout this "world recession" the world economy has kept growing at about 5%
.. This recession is entirely in the western world. It isn't even limited to poorer countries, Taiwan being per capita as rich as us and Singapore much moreso. Here are some real growth rates
3 Singapore 14.400
4 Taiwan 10.823
5 India 10.365
6 People's Republic of China 10.300
8 Argentina 9.161
11 Zimbabwe 9.006
20 Ethiopia 8.008
27 Belarus 7.600
31 Brazil 7.490
58 Sweden 5.536 (EU highest, but with nuclear power)
96 Poland 3.817
117 United States 2.834
147 United Kingdom 1.251
167 Spain -0.147
183 Greece -4.535
The US/EU recession is therefore not only not inevitable it could be easily avoided, as the rest of the world is doing, if recession were not the deliberate and occasionally admitted policy of our political nomenklatura
. The reason we are not all 3 times better off
is entirely because of the corrupt, lying, thieving, murdering fascist parasites who make up our political class. Every avoidable fuel poverty death, every hospital death which could have been avoided with more money, indeed the evidence is that each 1% increase in wealth reduces death by 21 per 100,000 people, In theory a 200% increase in national wealth would save 2.5 million lives a year but since this is comfortably beyond the total death rate I suspect it would be less.
We could get out of fast growth within weeks, probably days, if our nomenklatura wanted it. It all boils down to government parasites getting out of the way and removing all the Luddite laws that prevent wealth creation. In more detail, back in 2008 I sent out a 16 point plan and more recently extended it to a 23.
Nobody disputes that it would work and no MP/MSP has expressed any desire to see it done.
Labels: British politics, Fixing the economy, Government parasitism