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Friday, 14 August 2009

Has nothing been learnt?

Larry Elliot, always good value, has a very cautious take on any economic recovery.
He draws attention to the lack of any real fundamental change in the economy having resulted from this period of recession. Bonuses are back, regulators have been proven toothless in the face of money and vested interest, Western over-consumption and Asian over-production are still rife.
He makes a very vallid point that the changes that would have prevented the recession in the first place have not been implemented which means there is a very good chance we'll see a repeat in the shape of a 'double dip' recession. Let's hope not, unless doing so would bring about the changes needed to make a more sustainable economy


David Duff said...

Would it be better if us westerners consumed less and the asians starved? Just asking.

Bearded Socialist said...