United Kingdom Shows That Austerity Does Not Grow the Economy

Duh! We should all know that. So why is it such a rush for the pubs to do this?
https://news.yahoo.com/united-kingdom-shows-austerity-does-not-grow-economy-165532002.html

Yeah from what I've read lately it doesn't look like things are getting any better over here, not that I expected miracles. I may not like the current government but I do think they're trying their best to sort it all out, just not perhaps in the best way. That was a problem with the last government as well to be fair.

It is not going to get better.

It's funny isn't it (or I guess it really is not funny) that putting government employees on the streets and removing funding for job creation which are some of the few things the government can do is going to grow the economy? Crazy! Just crazy!

It's scary really, especially if you look at the unemployment figures. I've had to change my career path in order to have a better chance of getting a job after I leave university as I fear it won't be any easier by 2013.

Truth be it told the UK is much closer to the immediate effects of the EU's currency situation, and austerity measures taking place in Greece, Italy, and Spain. Even France has been downgraded on the S&P. The UK is just frightened that they will be next, so they're crawling into the fetal position trying to protect the vital organs, instead of fighting back.

Conversely the US is well headed towards recovery, unemployment is down, dow jones is doing well (though they recently taken minor hits), and GM is back on top.

The only thing that could really screw up our recovery is If the austerity deals between Germany and Greece doesn't pan out. And like I said the UK has greater proximity to these effects than the US

The UK is tied in a lot of ways to the US as well, and we aren't doing as well as the White House tells the GAO to tell us we're doing. Actual unemployment, including people who've stopped working or unemployment has run out (after 2 year!) sucks, and the market is stagnant. We need to get the government out of the way, like at Keystone, and the aircraft contract they pushed off to Brazil, oil in the Gulf……...

Headed towards recovery unless the wacko righties get their way ya mean!

Keystone would be a boon for Canada no doubt. Here? Very little jobs.

It's kind of funny, but now that the U.S. economy is starting to get back on track or showing signs of progress, there have been a lot of polls and discussions going on as to how people feel about it.

Interestingly enough, a lot of comparisons have been made to the 2001 tech bubble crash, and of course the 87' crash, and many people already feel like 2008 was really a bump in the road compared to 2001 or the 87.

I guess it was different for me. 2008-2009 > I'm looking at the world through adult eyes and I saw things different. 2001 and 1987 (I wasn't even born yet!) really didn't affect me. But overall, 2008 probably was really a very beneficial experience from me than this 'horrible period'. I benefited more from it than anything.

Sure, I lost a lot and I was cringing at all the red numbers in my spreadsheet, but the market has more than already made up for it. If anything, I've learned that you've got to stay the course and it made me learn many valuable lessons young instead of older.

I can say I'm better because of the 2008 crash.

"wasn't even born yet" keep rubbing it in doncha!

87 was my oldest birth year!

You righties tout the "real unemployment number" like as if you've jusrt stumbled on some new information. We're collecting the unemployment numbers the exact same way we were during the Bush administration, the same way it's been tracked the same way for at least 20 years. When unemployment dips below 8 percent as it most likely will be by the end of this year, that's not going to be any more "fake" then the unemployment numbers that existed under Bush.


Most important of all, getting "government out of the way" is how we ended up in this mess in the first place that directly contributed to the housing subprime bubble. We rescinded glass Stegall and deregulated the banking industry, essentially allowing the foxes to police the henhouse, and what we were left with is unregulated, mortgage bundled deriviatives, with little to no monetary collateral backing any of it. Thus we ended up with bloated property values when people who were previously prevented, as a matter of law, to get into mortgages they couldn't afford, let alone understand, we allowed to do so.

All of the above is what happens when you "get government out of the way of businesses making money."

Perhaps you think another housing bubble is the key to our problems but I certainly do not.