Britain In Recession

Official data released today shows that Britain has slipped into a new recession.

Britain's new recession is not a direct consequence of policies of the European Central Bank, because Britain is not in the Eurozone. It retains its own currency, the pound.

But the Cameron government has been following a policy of economic austerity, insisting that this will lead to economic expansion.

Apparently, not so much.

Actually, Britain's recovery from this recession is worse than its performance in the 1930's following the Great Depression.