As the Guardian notes this evening:
The UK is heading back into recession and will be among the slowest of the world's largest economies to recover in the first half of this year, according to a study by the Paris-based thinktank, the OECD.
I hate to say I told you so, although I will say the OECD does have a track record of spending a great deal to come to the bleeding obvious conclusions.
This is one of them. It didn't take genius to work out George Osborne has messed up big time; just acute observation. Some of us used that some time ago and aren't in the slightest bit surprised that the likes of the OECD are now catching up with us.
The OECD did not say how to get out of the mess either.
The left have. When they catch up with our prescriptions then we'll have breaking news.
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Makes a change for you to be agreeing with the OECD.
You call that agreement?
Most of the cuts still haven’t bitten, what will replace this demand in the next two years.
It won’t be consumption, people are eating the bone, investment, the private sector isn’t investing, or exports, the EU is in recession.
Monetary policy can’t get any looser.
I don’t know where the OBR get their forecasts from but I only see 3.5 million unemployed and a flatline at best for the next two years.
I predicted 4 million
But for vast numbers in marginal self employment we will undoubtedly get there
It’s always like this when the Tories are in power and we are in recession. They press on and on with harsh policies until they realise they have to change tack – but somehow they manage to do it without being rumbled. (I know, the Tories ruined my family’s financial wellbeing during the 80s and 90s.)
This time it’s more difficult for them because they are in coalition and I can’t see them changing policy now until the general election (poor us!). It’s about time Labour understood this and exposed it, instead of pathetically trying to mix a little bit of red with the blue.