Rubbish: Real average weekly earning growth was negative for /six/ years after 2008, briefly went positive for a couple of years after that, then slumped back to 0% in 2017. 2019 was OK & then th… (View Post)

Agreed, except that Osborne’s error was to clamp down on day-to-day government expenditure immediately after a deflationary bust whilst doing nothing to fill the inevitable demand gap that would resu… (View Post)

"We didn’t do as badly as some others" does not mean that we couldn’t have done better. (View Post)

Exactly: the government deficit ballooned enormously in the years immediately following 2008: Markets didn’t care. Osborne chose to reduce the deficit in a period of high unemployment instead of spen… (View Post)

The deficit was going to balloon anyway & the markets didn’t care, as demonstrated by the long term bond rates. So the short term expenditure is irrelevant: what matters is that people believe in… (View Post)