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Friday, September 09, 2011

confusion

these days economics just seems to be a guessing game.
the rules resembling the rule of the 'mornington crescent' game beloved of radio 4 listeners.
so governments bow and scrape to financial markets and organisatins like standard and poors or moodys even though these are the very entities that helped bring the capitalist system to the very edge.

of course whatever actions governments take is not the right for the business community.

george osborne is going on about how the deficit reduction plan is the only course. it is the right course.
christine lagarde has (with some caveats - what economic forecast comes without those?) agreed that mr. osborne is doing the right thing.
yet on the other hand she also praised president obama for his very ambitious spending plans.

very much like having your cake and eating it.

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