DRACONIAN KEYNSIANISM
It takes a German to call it like it is. I refer to the comments made by Germany’s finance minister’s on the government’s plans to combat the economic downturn. Peer Steinbruck had criticised the UK’s decision to cut VAT and raise the national debt to record levels. He said Britain’s switch from financial prudence to heavy borrowing was both “crass” and “breathtaking”. The BBC was quick off the proverbial (Deutsch) … Continue reading