austerity (Photo credit: 401(K) 2013)

This is an excellent, MUST READ blog by leading Oxford economist, Simon Wren-Lewis. Check it out!

via mainly macro: Why I am obsessed by austerity.

Simon-Wren Lewis has become one of my latest heroes in his constant focus on the damage done by excessive austerity. Sadly, many UK newspapers have not reported the damage done from excessive austerity. AND, of course, David Cameron‘s Government has tried to deny the truth and the huge damage done from following ideological rather than evidence-based policy.

Simon Wren-Lewis explains the implications of the  latest evidence against the UK  Government, coming from the independent  OBR.

For me, even now, with the UK economy growing on the back of UK Government sponsored property inflation, there are major risks. Firstly, there is the risk of a property bubble and the UK’s own sub-prime crisis. Secondly, with so…