Today's Times carries a story about Mr Mervyn King, the Governor of the Bank of England. (He is the approximate British equivalent of Ben Bernanke, Chairman of the United States Federal Reserve - 'the Fed').
"Austerity Britain will hate its new Government, says King
The Governor of the Bank of England was at the centre of an electoral storm last night after saying that the austerity measures needed to tackle Britain’s budget deficit would be so unpopular that whoever wins next week would not get back into government for a generation."
http://business.timesonline.co.uk/tol/business/economics/article7112329.ece
I believe that Mr King is right and I have commented on-line as follows:
"So why are all of the major political parties lying to us? It's 1931 again, but then we were told the truth and Ramsay MacDonald and Stanley Baldwin, better patriots and more honest men than any of the present shower, worked together for the common good and brought us through."
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