Simon Wren-Lewis says the coalition’s austerity is a “major macroeconomic policy error.”

It’s difficult to imagine the government ever acknowledging this. On Wednesday, Cameron resorted to immunizing strategies such as blaming the euro crisis (without noting that exports to the euro area have risen by 11.3% in the last 12 months), or celebrating the “lowest interest rates for a hundred years“, oblivious to the fact that these are a sign of economic weakness. I suspect that even if the GDP numbe...

Simon Wren-Lewis says the coalition’s austerity is a “major macroeconomic policy error.”

It’s difficult to imagine the government ever acknowledging this. On Wednesday, Cameron resorted to immunizing strategies such as blaming the euro crisis (without noting that exports to the euro area have risen by 11.3% in the last 12 months), or celebrating the “lowest interest rates for a hundred years“, oblivious to the fact that these are a sign of economic weakness. I suspect that even if the GDP numbe...

MY DAY by Eleanor Roosevelt:

In spite of rather gray looking skies, I left Washington yesterday afternoon, hoping to land in New York about 6:45. But we came down at an unfamiliar airport, and I found we were in Philadelphia and the flight was cancelled. I drove to the station and caught a train almost immediately and reached my house at 9:15, so I might just as well have taken a 5:00 o’clock train out of Washington.

I talked to some Army boys on the way over, who had just had their orde...