The U.K. has cut back expenses hugely and fired millions. It will certainly go into a major Depression. As Tony Blair said when asked why he hit his one-year-old baby: "You have to discipline them!" Lloyd ("U.K. Cuts Back Gov't Expenses," realpsychohistory, 21 Oct. 2010) - - - - - The U.K has unveiled a new National Security Strategy this week --- mostly about cuts in defense spending, and making sure that future efforts are tied to specific national interests and defense goals. It seems hard to argue with this. The U.S. needs to do the same thing. -------Jim (response to post) - - - - - You may all have read it already, but here's Paul Krugman on the cutbacks: Both the new British budget announced on Wednesday and the rhetoric
that accompanied the announcement might have come straight from the
desk of Andrew Mellon, the Treasury secretary who told President
Herbert Hoover to fight the Depression by liquidating the farmers, ...