Economics for 7 Year Olds

Above is an easy to understand venn-diagram for readers who are not into the dismal science.  The big circle shows all 20 members of the G20, the left-hand set comprises those members who are out of recession, the small right hand set contains those countries still in recession.  This is one chart you won’t see on Will Straw’s Left Foot Forward…

Embarrassingly for Gordon Brown, who sees himself as financial saviour and leader of the world, the only member country of the G20 still in recession is the UK.  Gordon is currently chairing the G20, which adds to the embarrassment.  The Times of India blames the UK’s debt burden for the divergent performance.  Who do we blame for the the debt burden?


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Quote of the Day

Peter Mandelson tells Emma Barnett…

“I think that Jeremy Corbyn himself should search his conscience and ask himself whether he’s the best person to lead the Labour Party into the general election with the best chance of success for the party.”

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