28 Jul, 2013
Take our economies off their stimulants and they aren’t really growing at all – The Independent
In the UK, yesterday’s figures showing 0.6 per cent growth in GDP for the last quarter are terribly weak. As my colleague Ben Chu points out elsewhere in the paper, the economy is still 3.3 per cent smaller than it was in early 2008. In normal times, based on averages going back to the Second World War, we would expect to have seen it expand by 15 per cent since then. And this, as Mr Polman was reminding investors today, is with the US Federal Reserve artificially keeping demand alive with quantitative easing. Take the Western economies off the angel dust of money printing and super-low interest rates, and the current “recovery” would disappear in a flash.
Read the rest: Jim Armitage: Take our economies off their stimulants and they aren’t really growing at all – Business Comment – Business – The Independent.
Loading ...
Liked this article? Share it!