I commend this blog post by my colleague Dr Tim Morgan to you:
Although Tim works for Tullett Prebon, I do not try to influence his work as I value independent research and I have worked with him on and off for over 20 years at three different companies, so it is obvious that I respect his work.
I agree with his conclusions, namely:
1. the facts are simple enough. Britain and the US are much poorer than they were. In fact, since the pre-2008 “boom” was actually borrowing masquerading as “growth”, it’s truer to say that they are poorer than they thought they were. These are borrowing-junkie economies, and
2. I believe that the British and American electorates could face the facts if these were put before them truthfully. But truth, as many politicians know, is a dangerous substance, best handled with care – and saved for special occasions.