IMF (Politely) Confirms: Austerity Doesn't Work

Wow, it just doesn't get much more stark than this. Via Paul Krugman: On Tuesday, the International Monetary Fund came out with a new report which states, albeit in dry, fact-based bureaucratese, that the world's governments (particularly though not exclusively those in the Eurozone) ought not continue down the path of fiscal consolidation (debt-reduction), lest they risk slowing the world's...