Wednesday, July 25, 2012

Options

The maddening thing about the UK is they mostly don't have the institutional issues that the US has and they definitely don't have the "no good options" problem that Spain and Greece arguably have (there are good options, just not ones that Spain and Greece are empowered to choose on their own).

They can borrow money basically for free and spend it on stuff the instant the PM decides to do it. Here in the US our political system guarantees that everybody-and-nobody is to blame for inaction, but in the UK they can basically just... make it so.