Wednesday, 30 May 2012

# 180 - WAR - 'Austerity'

At 0815 on Radio 4 Today's programme they interviewed an American Paul Krugman following his withering attack on the British government's economic policy.

When will the bias BBC interview somebody who advocates that austerity is in fact the only answer as I believe it is?

For example As Merryn Somerset Webb, Editor of Money Week, says this week :-

"There are 4 paths out of a financial crisis - rapid economic growth, massive default, high inflation (which increases nominal GDP and causes automatic deleveraging) and there is austerity.

The most common of which are infaltion and austerity with growth the least common. There is only one historical example of successful growth and that is the USA 1938 to 1943 and that didn't come from the best of sources.

So for those wondering how all this ends, history has given you something of a hint. You can't grow your way out of a financial crisis. You have to work your way out of it with austerity, inflation or a combination of both. Expect the later"

The BBC is bias in its coverage of our current economic problems favouring those who are against the cuts and austerity.

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