UK risks triple dip recession

[kpitcher]

http://www.guardian.co.uk/business/2...on-mervyn-king

The UK economy risks suffering from a triple-dip recession amid a period of persistently low growth that will last until the next election, the governor of the Bank of England has warned.

Sir Mervyn King cut Britain's growth forecast to 1% next year and warned that output was more likely than not to remain below pre-crisis levels over the next three years. "There seems a greater risk that the UK economy may be in a period of persistent low growth," he said on Wednesday.

more at article

[Steven Douglas]

To combat this problem once upon a time the UK went off their gold standard. Proponents argued that it would make their currency more elastic, abundant and plentiful, with exports that are more competitive. Here is a video that proves this in retrospect, as it pokes good fun at all the misguided men who argued for Britain's return to a gold standard.



So what if the UK just went off the gold standard again? It worked then, why not now? Just...go off the gold standard (OK, jump back on for a day, but then just "go off of it"). And if it works for the UK again, perhaps we could follow suit, and go off our gold standard again. I have heard it said, and this video seems to prove conclusively, that once you go off a gold standard and have an elastic currency, money and prosperity just starts flowing out to everyone, like magic. If you don't have large enough supply of money, you can always go get more with the push of a button.