{"id":6780,"date":"2013-02-24T15:58:54","date_gmt":"2013-02-24T20:58:54","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=6780"},"modified":"2013-02-24T15:58:54","modified_gmt":"2013-02-24T20:58:54","slug":"the-final-verdict-on-george-osborne-as-chancellor-mainly-macro","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2013\/02\/24\/the-final-verdict-on-george-osborne-as-chancellor-mainly-macro\/","title":{"rendered":"The final verdict on George Osborne as Chancellor &#124; Mainly Macro"},"content":{"rendered":"<p>Simon Wren-Lewis, economics professor at Oxford University, writes:<\/p>\n<blockquote style=\"background-color:#ddddff;\"><p>What George Osborne did with his austerity programme was the equivalent of putting a sick patient on a starvation diet accompanied by cold showers. The UK economy without accelerated austerity would still have been in poor shape, but under George Osborne it has been a disaster.<\/p><\/blockquote>\n<p>Read more at <a href=\"http:\/\/mainlymacro.blogspot.com.au\/2013\/02\/the-final-verdict-on-george-osborne-as_23.html?utm_source=dlvr.it&amp;utm_medium=twitter&amp;utm_campaign=Feed:+MainlyMacro+mainly+macro\">mainly macro: The final verdict on George Osborne as Chancellor<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Simon Wren-Lewis, economics professor at Oxford University, writes: What George Osborne did with his austerity programme was the equivalent of putting a sick patient on a starvation diet accompanied by cold showers. The UK economy without accelerated austerity would still have been in poor shape, but under George Osborne it has been a disaster. Read &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2013\/02\/24\/the-final-verdict-on-george-osborne-as-chancellor-mainly-macro\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;The final verdict on George Osborne as Chancellor &#124; Mainly Macro&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5,33],"tags":[1404],"class_list":["post-6780","post","type-post","status-publish","format-standard","hentry","category-economy","category-uk-europe-countries-regions","tag-fiscal-austerity"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The final verdict on George Osborne as Chancellor &#124; Mainly Macro - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The final verdict on George Osborne as Chancellor &#124; Mainly Macro - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Simon Wren-Lewis, economics professor at Oxford University, writes: What George Osborne did with his austerity programme was the equivalent of putting a sick patient on a starvation diet accompanied by cold showers. The UK economy without accelerated austerity would still have been in poor shape, but under George Osborne it has been a disaster. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. 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[Government] Spending as a share of GDP has ratcheted up from 35pc at the end of the 1990s to the Brownian peak of 51.7pc in 2009 (Eurostat), an all-time high in peace-time. It came back slightly to 50.4pc in 2010.\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2276,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/22\/the-wages-of-economic-ignorance-robert-skidelsky-project-syndicate\/","url_meta":{"origin":6780,"position":1},"title":"The Wages of Economic Ignorance &#8211; Robert Skidelsky &#8211; Project Syndicate","author":"ColinTwiggs","date":"November 22, 2011","format":false,"excerpt":"Despite austerity, the forecast of this year\u2019s UK structural deficit has increased from 6.5% to 8% \u2013 requiring an extra \u00a322 billion ($34.6 billion) in cuts a year. Prime Minister David Cameron and Chancellor George Osborne blame the eurozone crisis; in fact, their own economic illiteracy is to blame. Unfortunately\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7965,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/06\/30\/banks-political-influence-cause-for-concern\/","url_meta":{"origin":6780,"position":2},"title":"Bankers&#8217; political influence cause for concern","author":"ColinTwiggs","date":"June 30, 2013","format":false,"excerpt":"I am not sure of the background to this, but it certainly looks as if the big UK banks were able to exert enough political pressure to remove Robert Jenkins from the Financial Policy Committee, the UK\u2019s new stability regulator. Anne-Sylvaine Chassany at FT writes: An outspoken advocate of tough\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4616,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/06\/14\/u-k-aims-to-mute-impact-of-crisis-wsj-com\/","url_meta":{"origin":6780,"position":3},"title":"U.K. Aims to Mute Impact of Crisis &#8211; WSJ.com","author":"Colin Twiggs","date":"June 14, 2012","format":false,"excerpt":"Chancellor of the Exchequer George Osborne and Bank of England Gov. Mervyn King announced plans to flood banks with cheap funds in a dual attempt to jump-start lending to British households and businesses and to fend off potential financial problems at big U.K. lenders. The programs resemble some of the\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2400,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/27\/u-k-seeks-to-revive-growth-wsj-com\/","url_meta":{"origin":6780,"position":4},"title":"U.K. Seeks to Revive Growth &#8211; WSJ.com","author":"ColinTwiggs","date":"November 27, 2011","format":false,"excerpt":"[Treasury chief George Osborne] will also announce an extra \u00a330 billion in new money to be spent on infrastructure such as railways, roads, classrooms and broadband connections, said a person familiar with the matter. Of this, \u00a320 billion will be provided by pension funds. The Treasury has signed a memorandum\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4956,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/07\/26\/u-k-stumbles-fueling-austerity-debate-wsj-com\/","url_meta":{"origin":6780,"position":5},"title":"U.K. Stumbles, Fueling Austerity Debate &#8211; WSJ.com","author":"Colin Twiggs","date":"July 26, 2012","format":false,"excerpt":"More evidence that imposing fiscal austerity while the private sector is deleveraging will aggravate rather than cure the problem. From WSJ.com: The [UK] economy shrank 0.7% between April and June, dragged down by weakness in the construction industry, according to official data released Wednesday. An extra day's holiday in June\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/6780","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=6780"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/6780\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=6780"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=6780"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=6780"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}