The new economy is not going to work well

'Shock Doctrine' IMF Economists Are Pushing The Same Remedies In The UK That Didn't Work Here. Why?

from Crooks and Liars by Susie Madrak

This caught my eye because it's really quite crazy. Last year, the International Monetary Fund pushed the UK quite aggressively for an austerity budget -- and now they're warning that the UK austerity budget has resulted in just 0.2 per cent growth in the second quarter of the year, following two quarters of poor growth. Gee, you don't suppose unemployment, wage cuts and the additional costs incurred by public program cuts resulted in people having less money to spend, causing a demand problem?

So what strategy do they recommend if growth doesn't improve? Come on, you already know: tax cuts and more quantitative easing. You know, the same things that didn't work here! It's not really science with these people; it's fundamentalist religious dogma, like the conviction that Adam and Eve co-existed with dinosaurs -- that, and disaster capitalism: