The boom days of the British economy are over
It's progress, I suppose, of a kind. At last "top economists" are waking up to what's been obvious all along to people unencumbered by any training in economics. Apparently, the British economy is never going to return to the days when credit seemed limitless, and a house earned more money in a year than a post-Hewitt-settlement GP. Only a "top economist" could ever have imagined that this was sustainable in the first place, of course, which is how this astonishing situation came to pass. Meanwhile, the "top economists", while at last recognising a structural adjustment will be necessary, can only think of printing money, just like those houses used to, but in a more literal manner. Not good.
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