Economy

xchrom

(108,903 posts)

21. David Cameron accused of idiocy over austerity mantra

Thu Apr 26, 2012, 10:14 AM

Apr 2012

http://www.guardian.co.uk/business/economics-blog/2012/apr/25/david-cameron-accused-of-idiocy-austerity

Calling David Cameron a moron is a talking point. And I suppose that is what Business Insider, the US news website, wanted when it reported the prime minister's comments at Question Time as representing "the height of idiocy".

Staff writer Joe Weisenthal, choking on his morning muesli, accused Cameron of sounding like a moron when he said Britain's low interest rates demonstrate it has credibility.

"OMG! Your economy is going into a double-dip recession! That's why your government borrowing rates are plunging. It's got nothing to do with 'credibility'. It's the fact that when your economy is going down the tubes, there's nothing appealing to invest in, and so they just park their cash in risk-free government debt," he wrote on Wednesday afternoon after Cameron was mauled by opposition MPs over the economy and the Leveson inquiry.

"Low rates in the US, UK, Germany, and Japan, are the surest signals of long-term decline. What on earth are you bragging about?," he added.

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