| Topic: | Giles grasps at straws | |
| Posted by: | Thomas Barry | |
| Date/Time: | 26/04/12 15:30:00 |
| "according to some economists who have stated that the figures produced by the Office of National Statistics are not reliable." Are you seriously saying growth is at the 2.5-3% per year levels that are actually required to close the output gap but for some magical reason this has escaped the people responsible for drawing up the statistics? It doesn't matter if it's 0.0% or -0.2%, it's still far below the figures the Chancellor is relying on to close the deficit - that's the rub here. Try using the Deficit Calculator here for your estimate of what growth really is at present. http://www.leftfootforward.org/2012/04/paul-krugman-double-dip-recession-response/ [warning: contains Keynesians being right about things and a scary graph showing just how bad things have got since May 2010] Basically pretending that the figures don't matter when they disagree with what appears to be an ingrained misunderstanding of reality is not the mark of a serious debater, David. |