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.
U.K. Retail Sales Advance at Fastest Pace in 10 Months, BRC Says
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