U.K. Retail Sales Advance at Fastest Pace in 10 Months, BRC Says
Posted by WARREN MOSLER on February 9th, 2011
The deficit is still plenty large enough for a decent expansion, so the year end weather setbacks could be reversed and then some before sufficient austerity sets in and works to reverse it all.
Hard to figure the timing for the cross currents.
Also, opening the borders to wealthy foreigners, as they recently announced they were doing, is a clever move to firm the currency and support the economy and asset prices.
UK Headlines
U.K. Retail Sales Advance at Fastest Pace in 10 Months, BRC Says
U.K. Housing-Price Gauge Increased in January on Supply Shortage
Osborne Says U.K. Bank Levy Increase to Raise 800 Million Pounds
February 10th, 2011 at 3:22 am
Austerity breeds confidence. Confidence breeds consumption.
Is EI important in economics?
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February 13th, 2011 at 5:05 pm
Pete,
Austerity = reduced money growth. Reduced money growth = reduced consumption. See: Debt growth/GDP growth
Rodger Malcolm Mitchell
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WARREN MOSLER Reply:
February 13th, 2011 at 10:00 pm
and the process is called austerisis
(also, by ‘money’ i assume you mean net financial assets)
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