Non Sequiter

Faced with the claim that there has been no austerity you realise you are up against what might best be described as a small world, and decidedly selfish, view of economics.

Whether or not there has been austerity is a simple empirical fact. By the Wren Lewis definition – government not ballooning he deficit out to whatever level means no rise in unemployment – then yes, there has been.

By a more reasonable one, there hasn’t been. Government spending is about where it was before the crash as a percentage of GDP. Which is what should have happened along entirely standard Keynesian lines of course. Recession, deficit rises, recovery, it falls.

14 comments on “Non Sequiter

  1. I am still waiting for Wrong-Lewis to justify calling the UK fiscal situation “austerity” in comparison to that of Greece, where pension payments have been slashed, everything possible has been sold at knockdown prices to German sharks etc.

  2. What Rob said +1

    Btw, what has Wrong-Lewis published that would qualify him to be a professor at one of the world’s leading universities? I am curious….

  3. Richard loves to tell us stories of how lovely his sons are, how wonderfully advanced their thinking is and how they grasp the world better than anyone else.

    Meanwhile, on Planet Earth, there is some hope for them as they appear to be normal teenagers…

    https://ibb.co/kMwvY0

  4. If those are your sons Richard – we know you read this, you galloping egotist – you should be ashamed of their homophobia and word-violence. Somebody report them for hate crime before it gets worse.

  5. If government spending stays level, but we import 250k more people net into the country, then there will be less spent per head with stolen taxes, er, public finances.

  6. Oh, dear – you ae faced with people who can do arithmetic.
    Maybe it was Murphy’s twin brother who atually paseed the 11+ and some bureaucrat got them mixed uo?

  7. Noel

    How do you find these things?

    I’ll believe they are free thinkers when they wear T shirts saying something like

    “I literally have never imagined myself to be an Auschwitz inmate”

  8. @ BraveFart
    You cannot believe T-Shirts. Even I have a fake one (purchased by my wife because she was amused by it) and over three-quarters of my genuine ones have won out.

  9. There seems to be a lot of activity from someone who’s supposed to be running out of steam and taking in week off to pull his latest MurphGap figures out of his backside.

  10. The best T-shirt I’ve ever seen was worn by a scowling brute and said “Do I look like a fucking people person?”

    The most pretentious was worn by an American: it showed Schrodinger’s Equation and said “What don’t you understand about …?”

  11. I like the Cnut t-shirts.

    And not just because I have a small appearance in the documentary about Cnut founder Dave Griffith’s fight with French Connection over Trademarks.

    As one of Dave’s early t-shirts said;

    “it’s spelt fuck, you stupid Cnut”

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