Jan
14
“While the losses of the private sector are absorbed, the successful public sector is being stripped of assets in health, energy, transport and other sectors and handed over to the inherently unstable private sector…. ‘Austerity’ is the transfer by the government of household incomes to the business sector. It is not working in any part of Europe, in or out of the eurozone area. It prolongs the investment strike rather than ending it. The whole of Europe needs investment, not cuts.”
Michael Burke in the Guardian on why S&P lags behind the markets — and why Britain’s got nothing to crow about.
