Wednesday, 11 August 2010
How the BBC spins the recovery
According to the BBC who are doing all they can to rubbish any evidence of an economic recovery under the conservatives - at least they are more keen than they ever were to report a recession under Labour - this is a graph that illustrates the choppinness of the recovery. Actually, as far as I can tell, it simply shows that the future is harder to predict than the past.
In fact it looks like good news. The left hand side of the graph shows GDP growing while government expenditure is growing at 6% per annum. The right hand side predicts what will happen when it is falling at 6% per annum. Ony the right side is sustainable.