OK

RBS being the Royal Bank of Scotland. And "since 1830" means in non-post war situations.

It's a short article, so I won't quote much. Plus it's the Telegraph, which tends, like most rightwingers, to fall prey to hysteria, but bottom lines are bottom lines, and...

http://www.telegraph.co.uk/...
Stephen Boyle, head of group economics at the Royal Bank of Scotland, said the last time the economy was so bad was immediately after World War One and World War Two, ...

..."Those aside, 2008-12 fall was bigger than any since before Victoria ascended the throne," he said.

"It's the worst economic performance since at least 1830, outside of post-war demobilisations," he told The Daily Telegraph. "It's worse than the 1920s, it's worse than the Great Depression."

So we can see how much austerity has helped them. But have they had enough austerity? Not so, says the Bank of England. Interest-rates might rise, don't you know, if austerity pressure is let up too much.

2012 was the worst year for British manufacturers since the financial crisis began in 2007.

Why anything but massive job creation is the priority of Britain, or the US, or ... any place in the West I can think of...

Why everybody is talking about the need to take away from society's most vulnerable members, ...

these kinds of things I don't know. But it is strange how all the solutions actually pushed have been those which please only bankers, and not the people in our respective democracies.

And nothing gets fixed, things only degrade further.

Heh. Remember when all those people were shouting "green shoots" at tiny upticks in graphs a few years back? Some knew they would only sprout the crap we have now.

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