“We are an economy, not a household”

Brilliant. ¬†Krugman dismantles two Tory austerians… ¬†“It’s all about exploiting the current situation to pursue an ideological goal of a smaller state.”

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Economic Recovery: You’re Doing It Wrong

So sayeth the IMF in a consultation with the UK: The hand-off from public to private demand-led growth has not fully materialized. Much of this underperformance relative to earlier expectations is due to transitory commodity price shocks and heightened uncertainty following the intensification of stress in the euro area. Translation:…

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