Austerity continues to be a bad idea.
http://www.ft.com/intl/cms/s/0/6b5bae7c ... z2EZsovi7Q
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Claire Jones: Britain fears triple-dip recession looming: "George Osborne was forced to confront a downgrade in the growth prospects in his Autumn Statement, fresh data have raised fears that Britain is heading for a triple-dip recession…. Manufacturing output, which makes up just more than 10 per cent of the economy, slumped 2.1 per cent in the 12 months to October…. 'Triple-dip watch starts here', said Alan Clarke, an economist at Scotiabank…. 'Judging by the official data we have seen for the fourth quarter, notably retail sales, trade and industrial production, the UK will struggle to avoid a renewed downturn after the brief return to growth in the third quarter', said Chris Williamson, economist at Markit, the data analyst…. Other economists are gloomier still…"
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http://www.guardian.co.uk/business/2012 ... sion-alert
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rubato