UK economic recovery slowest since 1720
In a comment piece for the Independent, economist David Blanchflower reveals that the 6 years it has taken for the UK to get back to its previous GDP peak has been the slowest peace time recovery since the South Sea Bubble bust in the early 18th Century.
The crash of 2008/9 was severe, but certainly not unprecedented, so while it’s good the GDP has now recovered to previous highs (although as Bill Mitchell points out here, on other measures the recovery remains elusive), George Osborne and the Government surely must take some of the blame for the long economic stagnation we are only now leaving.
its without doubl ossie and carney are fiddling the figures showing the way forward but then fiddling with the figures is another tory thing
The next crash is going to be even worse. Due any time soon judging by the figures coming out of the derivative markets and the public and private debt burdens being carried the world over. The global theme tune should be ‘I’m forever blowing bubbles’.