the misery index
From Paul Krugman today:
Oh, and the UK: was it “forced to impose painful austerity”? Here’s the interest rate on 10-year UK bonds:
There was no sign of a crisis of confidence in the UK budget before the May election; the Conservative government chose to embark on austerity, it wasn’t forced into it.
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Crikey, chaps, I think this means that the deficit will be getting even bigger now. Time for more essential cuts methinks.
davidaa
January 26, 2011 at 6:33 pm