The first snow of this year's winter is falling.It's grey and cold.Economic news is depressing, the most depressing its been since I was a young man. You wonder how your children will survive in this new world order of austerity and no work for the young. This Government seems to have run out of ideas and now keeps simply keeps repeating the cuts cuts cuts mantra. On the other side we have the two Eds and their spend spend spend mantra which we already know didn't work. Neither side seems to be able to move on.
Capitalism is in crisis but where is the change going to come from? The answers are in history. Good article by Simon Jenkins in the Guardian yesterday on that subject. Economics though is like religion you either believe or you don’t and the other side is damned to hell for eternity.
What I do know though is that we borrowed too much, paid too much to too few , regulated the financial sector too lightly, went to war too quickly, exported manufacturing jobs too readily and thought too easily- because we were told- that boom and bust had ended.
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