What Austerity is what it isn’t (and, really how not to haggle)…

Now, notwithstanding the sage advice of Chris Dillow that “understanding support for austerity requires not an economist but a psychologist”, here’s Newton Emerson to duly report that whatever Northern Ireland is suffering, it sure ain’t austerity:

HNIW9 from The Detail on Vimeo.

There’s the narrow case that Newton makes here, but to that you can add the fact that the Treasury has been quietly doing what Greece has been requesting which is quietly restructuring Northern Ireland’s debt to release up more of its current resource for current and capital spending.

Indeed, you could hardly find a better example of what the endless haggling and ‘fighting against austerity’ in one tweet from Giles Wilks…


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