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We are already in a depression, not a recession. -
First, the US Dollar is a reserve currency. Secondly, the 1930's depression was a 100 years ago and was caused by several factors including excess borrowing to fund stock market speculation. When Harold Wilson had to go begging to the IMF to bail out the economy, the IMF lent the money but imposed various austerity measures. If the UK has to go cap in hand to the IMF again, then rest assured the IMF will stipulate changes which equate to austerity. this is the IMF's standard terms. Just look at Argentina. Take the pain to get the gain! -
Thanks, Malumbu, but did you mean "ambulance"? Southwark certainly seem to be planting a lot more trees than they are removing, which is great! -
Look at the national debt of the US. It's ginormous. The US spent their way out of the 1930s depression. Which is what the UK should have done rather than the Coalition's austerity. Look at the harm and division austerity led to in the UK. If only it was simple.
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