Obama is talking up the European economy saying that growth is required to conquer recession rather than austerity. And David Cameron comes out in favour of this – growth is needed in Europe and yet his policies of austerity in the UK contradict this support and makes one wonder if his office have a rating system and agreeing with Obama trumps most other issues, including the main economic plank of his frat pal chancellor.
What is growth? It is an improvement in terms of real wages vs inflation which in the UK has been on the decline for rather a while. Austerity in the face of recession is a knives edge course of shaving bits of the economy off until its a lean machine like some kind of down sized corporation. But the lives abandoned by the governmental machine are humans not dollars. They do in fact matter. Bleeding your population to support the mistakes of the banking industry and their magic numbers is simply belief in a myth. Mathematics be damned!