Saturday, 10 October 2009

All aboard the death spiral

David Blanchflower, “respected economist” and former member of the Bank of England's monetary policy committee, has laid into Shadow Chancellor George Osbourne’s financial plans. Apparently the Tory plans will push the UK economy into a "death spiral".

"We are in the midst of the worst recession most people alive have ever experienced, or will probably ever experience, Lesson one in a deep recession is you don't cut public spending until you are into the boom phase. The consequence of cutting too soon is to drive the economy into a depression. The Tory economic proposals have the potential to push the British economy into a death spiral of decline."

May work on the doorstep.

“Yes, I particularly liked you manifesto commitment to the death spiral”

On the other hand, could get the Goth vote.

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