Growth or deficit: “Economics is the method. The object is to change the soul”

There’s a good piece in The Guardian from Julian Glover who says, yes, the Coalition does want cuts for ideological reasons, but then what of it? Yet ministers, by and large, hesitate before admitting this. Liberal Democrats worry about scaring their voters. Conservatives aren’t sure the country will understand their big idea. It’s easier to take refuge in the alternative truth that cuts are happening because they are needed. Even Ed Miliband issued a press release last week agreeing. From …

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Ireland : Why Morgan Kelly is wrong

On Newstalk Radio this morning Professor John Fitzgerald of the ESRI explains why he thinks Morgan Kelly’s analysis of the banking crisis is overly pessimistic and replies to David McWilliams assertion that his growth estimates are ‘horseshit’. John Fitzgerald on Newstalk Radio – his interview starts about 40-41 minutes in. The reasons why he feels Kelly is overly bearish – 1. Fitzgerald argues that there are insolvency issues at Anglo Irish Bank and Irish Nationwide, but that AIB and Bank …

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