Oh, I agree
State intervention is, let's face it about the only tool most goverments have at the moment. It's just a bit annoying that the institutions that in times of economic growth bleat on and on about state intervention and such are not only reliant on it themselves, but also don't seem to have a lot to say regarding this sudden political turnaround. And yes, it is rather unprecidented. Economists in this case might as well start reading the entrails of sacraficial virgins to predict what's actualy going to happen
(Fredz A graveyard of hopes, a dump of ambition, Mon 23 Feb 2009, 17:53, 1 reply)

The great depression
is actually the closest parallel to the current situation*. Which is insane, because predicting ecomonic growth based on what happened nearly a hundred years ago is about as much use as mudflaps on a tortoise. But that's what they are doing.

*with the caveat that America's refusal to abandon the gold standard at the time was a major contributor to the situation, if not going tits up, then staying tits up
( the mighty badger Aphrodite, on a bar stool, by your side, Mon 23 Feb 2009, 18:39, closed)