tag:blogger.com,1999:blog-6546613382023661583.post9157022293003912792..comments2023-11-05T12:16:33.639+00:00Comments on Eyes on Power: The Failure of Western CapitalismEyes on Powerhttp://www.blogger.com/profile/02408947428831888312noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-6546613382023661583.post-78185528822854717062010-07-05T22:54:17.075+01:002010-07-05T22:54:17.075+01:00Agreed. I forecast that after the cuts hit we will...Agreed. I forecast that after the cuts hit we will see a double dip meaning a second crisis. This will differ from the first by hitting retail due to their being less income more unemployment and higher VAT. I think this may start fully in in Q2. I don't think the banks bear will suffer as much this time as their limits on borrowing will keep them safer. <br /><br />If all this comes true then I want Vince Cable's economy forecaster crown. I'll dig it out of the bin.Pete @ Eyes on Powerhttps://www.blogger.com/profile/10951491220409745001noreply@blogger.comtag:blogger.com,1999:blog-6546613382023661583.post-76609532077111856642010-07-05T22:31:47.072+01:002010-07-05T22:31:47.072+01:00Interesting question. The national debt obviously ...Interesting question. The national debt obviously expanded due to increased borrowing to pay for government expenditure during the recession. This helped stimulate the economy and avert economic collapse. Ironically, now that the debt is being tackled by the Coalition - and the stimulus is being withdrawn - I think it is highly likely we will see a return to recession. From a Keynesian point of view, an increased deficit was necessary to deal with the credit crunch and recession.Dan @ Eyes on Powerhttps://www.blogger.com/profile/07098864719222064502noreply@blogger.com