Reaction on Q3,2009 GDP figures released, part 1 (23Oct09) Video

Part 1 of 2: Conservative George Osborne talks about the terrible Q3 2009 GDP figures released earlier in the day showing another drop in output, after much hype (from the government???) that there would be an increase in output. A damning verdict on New Labour's created recession.

Recorded from Sky News, 23 October 2009.

Save & Share:

roflcopter2006: WHAT?! Keynesian economics isn't working?? Im shocked..............

cheerlessdarkndeadly: We haven't been following Keynesian economic theory since the US blocked the creation of a Clearing Union instead of the IMF over 60 years ago. The defining economic program since the 1980s has been monetarism. New Labour did nothing to reverse the policies of Reagan and Thatcher. In fact, they exaccerbated them. Keynesian economics worked in the 1930s depression, but it isn't a miracle cure to bring in every time we enter recession.

xhairsfordemocracy: arrrrrrrrrrrrrrrrrrrrrgggh! printing more money isn't working! arrrrrrrgh! lets print EVEN more money!

chilies83: Not a good idea because the value of pound sterling would decrease resulting in inflation.

xhairsfordemocracy: yup, I know, sometimes sarcasm doesnt work across teh internet. have a nice day.

Author: liarpoliticians; Uploaded: Oct 23, 2009; Duration: 7:30; Views: 121

Tags: uk  gdp  q3  2009  figures  released  production  output  drop  new  labour  created  recession  depression  george  osborne  tory  conservative  gdp statistics gdp by country gdp per capita by country gdp growth gdp uk gdp wiki gdp deflator gdp definition gdpo gdp per capita