Behold A-U-S-T-E-R-I-T-Y works its magic!
The UK was on the verge of an unprecedented triple-dip recession after a dire January for the nation’s struggling manufacturers.
Official figures revealed an alarming 1.5 per cent slide for the sector, the biggest slump in output since last June, when an extra day off for the Jubilee celebrations dented the economy.Meanwhile in this country, this is little reported -- let alone discussed in comparison to our fiscal spending. And, of course, the beltway praises Paul Ryan's granny-starving-plan and treats the Obama Administration's more than bad enough grand-bargain as a mere sop.
The news sent the pound tumbling to fresh two-and-a-half-year lows against the dollar as traders bet on the Bank of England pumping billions more into the flatlining recovery.
It also deals a political blow to the Chancellor, George Osborne, a week ahead of a Budget in which he will almost certainly be forced to admit that the deficit is rising due to anaemic growth and the eurozone crisis.
The message is clear, who cares if stimulus is the best plan, the plan that works -- YOU. MUST. SUFFER.