Elliott likens the UK economy to a sugar rush economy fuelled by house prices masking perilous imbalance. In many ways, this short article confirms the view of Martin Wolf, whose views I re-blogged earlier.
Perhaps, history will judge David Cameron harshly for giving George Osborne two jobs, where there has been an inherent conflict of interest viz. Chancellor and head of Conservative Party strategy? For me, Osborne’s policies have always been more about politics than fundamental evidenced-based economic policy.