The Incredible UK Economic Catastrophe Chart That Everyone Is Talking About (Great Depression)

TBI ^ | 4-25-2012 | Joe Weisenthal

[blam]

The Incredible UK Economic Catastrophe Chart That Everyone Is Talking About

Joe Weisenthal
Apr. 25, 2012, 10:25 AM

Well, everyone is dumping on the UK today after that dismal Q1 GDP number, which confirms that the country has gone into double dip.

David Cameron is taking a lot of heat for two reasons:

The GDP stallout occurred right after he took office. He continues to be in denial, and so he's bragging a ton about low interest rates. Now here's another chart that everyone is tweeting, and which Paul Krugman has just posted.

The UK recovery is now doing WORSE than the great depression.

Nuts!

[doc11355]

The GDP stallout occurred right after he took office.

Just because a pseudo-conservative has finally been elected doesn't mean that the long-term destructive effects of the counterproductive, brain-dead economic policies of his Liberal predecessors immediately disappear.

[palmer]

One of Cameron’s problems is his belief that low interest rates help the economy. They don’t, they undermine it by discouraging long term savings and investment.

[JoeFromSidney]

We already knew that most nations in Europe recovered from the Great Depression in about 3 years as opposed to the 10 years the US took. But then they did't follow New Deal policies. They're now doing what we did back then, and getting the same results. Since our Glorious Leader insists on repeating the mistakes of the New Deal, we, too, will get the same results again.

[blam]

This Is The UK's Weakest Recovery In 100 Years

[Made In The USA]

“Just because a pseudo-conservative has finally been elected doesn’t mean that the long-term destructive effects of the counterproductive, brain-dead economic policies of his Liberal predecessors immediately disappear.”

It certainly will take a long time to repair the damage done to the US by Obama. If Romney is at the wheel, the effort will probably never leave 2nd gear.

[MrB]

Just read something this morning from a lefty who was adamant that what’s happening in Europe wouldn’t happen here.

It’s much like the Ted Kennedy assertion that socialism has never worked because people like him weren’t in charge.

[ResponseAbility]

****Just because a pseudo-conservative has finally been elected doesn’t mean that the long-term destructive effects of the counterproductive, brain-dead economic policies of his Liberal predecessors immediately disappear.****

He still gets the blame by the media, and the people will still believe it. This is why a real honest to goodness depression is guaranteed to happen. If Obama is reelected, the end game is afoot. If Romney is elected, interest rates will go up if he would somehow try to reduce the size of government, and the end game is afoot as well.

There is no way out now. I am in a way glad that that Gingrich will not be the nominee because if he were to win and really follow through with the reforms he talks about, the central banks would increase the interest rates, thereby crashing the economy and letting the media blame conservatives for the result of decades of liberal fiscal policy.

Having a liberal(commie) in power when it all falls down just means that the media has to convince people that full on communism is the only “fair” way to bring back a resemblance of civilization.

[douginthearmy]

Now we see what happens when the stimulus is too small. /krugtard

[Uncle Miltie]

I NEED MORE COWBELL!!!

[BfloGuy]

This one’s easy. The UK hasn’t printed enough money to keep the government spending component of GDP high enough to give the illusion that a recovery is underway.