It can seem we have no intelligent commentary on the UK economy. The story we are plied with seems to be:
the British economy makes an extraordinarily complicated picture. We have an economy which is either flatlining or going into an unprecedented triple dip, but is rapidly growing jobs (despite 30,000 government jobs going a month); we have brutal cuts in government spending, while government spending continues to rise; we have a country where things feel as if they’ve been bad for a long while, and yet on the figures, most of the hard times are still ahead. You’d think the banks had been thrown a few peanuts rather than £120K per household. Productivity, despite all the ‘thrusting’ private-sector created jobs, is down 15% on where it would have been on pre-2008 trend. We will soon have less crime because we got rid of 28,000 police staff and now have rank amateurs setting police budgets.
I salute the squadrons of flying British pork off to maintain Empire as they soar over the Pennines, counting them all out and counting them all back!
For similar on the US propaganda front see:
Where do you get your figure of £120K from? The most the banking bail out ever added up to was just over a trillion. The audit office claim that 75% has been repaid plus interest and the Governments current outstanding support adds up to £228 billion. £109 billion of that is guarantees.
The figure was by way of David Malone and something on Zerohedge. I have looked deeper and have some references. I should have made all plainer – b ut lacked time.