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The Guardian: "Rethinking capitalism in a spivs' paradise"

(Reaction to Mr Cameron's comments in an earlier post below.)

"Tristram Hunt is quite right to argue that is a long tradition in Britain of opposition to the excesses of the unfettered free market, and that the choice is most certainly not between Brent Cross and Soviet-style central planning."

Daily Telegraph: "America overcomes the debt crisis, as Britain sinks deeper into the swamp"
"The latest report on "Debt and Deleveraging" by the McKinsey Global Institute shows that total public and private debt in the UK is still hovering at an all-time high. It has risen from 487pc to 507pc of GDP since the crisis began.
"As the chart shows, as recently as 1990 Britain’s debts were still just 220pc of GDP. Has a rich country ever been debauched so fast in peace time?

"The ordeal of belt-tightening will be grim, dragging out for a generation if Japan is any guide. The Japanese at least began their post-bubble debacle as the world’s top creditor nation with a trade super-surplus and a savings rate of 17pc. Britain has no such buffers."
Link to Daily Telegraph

The Guardian: "Vote of no confidence has crushed Britain's economic recovery" 

"...The theory [has been] that public sector spending and investment was 'crowding out' the private sector. Over the next year we will see the deep flaw in this theory. The private sector despises risk. And the solution for many businesses looking for a risk-free bonanza is an asset price crash.

"It is the time-honoured solution to every asset bubble recession. Construction and financial services are the usual engines of growth out of recession, and they rely on buying cheap assets and milking them for short-term gain. What they lose from their balance sheets, they more than make up in the resulting boom through extra profits." 

Link to The Guardian

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