Treasury suggests eating young as way to move forward
Treasury cuts 2013 GDP forecast to 3 per cent
The Treasury has lowered its forecast for economic growth for 2013, citing volatile and more expensive global credit markets and the likely impact on commodity prices of a weaker global economy.
...Treasury are confronted by economic conditions created by the neoliberal deregulation they so slavishly worship, meaning Treasury doesn't have the intellectual capacity to look outside their free market paradigm. What we are getting from Treasury is a mish mash of austerity cut backs resting on future growth predictions that make Hoover's constant claim of 'prosperity just around the corner' in the wake of the 1929 stock market collapse, look pessimistic.
Best case scenario we are in for a grueling and grinding decade of low growth, worst case scenario another depression (check out Warren Buffet's apocalypse now scenario's and IMF's latest downgrades), when the founder of World Economic Forum admits that he and his greedy ilk 'have sinned' it sounds like all the chickens are coming home to roost in corporate jets.
We dumped the lessons of managed Keynesian capitalism for this neo-liberal monster. In the 70's the real economy and the financial economy were evenly valued, 40 years of neoliberal deregulation and the real economy is valued at $8 Trillion where as the Financial economy is valued at $300 Trillion - the utter imbalance built by ignoring development for Milton Friedman free market dogma has created not only an unjust system, it also has created acolytes within Government and the business media community whose blinkered attachment to failed free market theology makes them all part of the problem, not part of the solution.
Why we should listen to Treasury on increasing class sizes when they can't comprehend the economic future their free market fetish has unleashed should take a very short time to answer.