All that glitters

• James Henderson
• 11 years ago
• Categories: Economy

2.5% GDP growth last year. The Right’s jumping out of their skin at finally achieving the long-run average growth rate (btw, from 1999 to 2008, the average was 3.4%). But even on their good days, they’re doing it wrong: “The “consumer-centric” mix of growth was understandable, with low interest rates stimulating the housing market while a high dollar throttled exports, but it was the exact opposite of what was required”