Larry Summers Gets It Right on the UK

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Monday, 05 May 2014 07:11

Larry Summers had a good piece in the Post pointing out that the recent growth in the United Kingdom should not really be cause for celebration. He notes that the U.K.'s economy is growing in part because it has moderated its austerity and also in part because it appears to be carrying through policies that are deliberately designed to re-inflate its housing bubble. The latter policies are likely to have disastrous consequences in the near future, but may help the government win the election next year.