The grim economic reality is that the BIG U.K. growth industry is, as before, 'Short Term-ism'.

So, the IMF now thinks the UK will be the “best-performing of the largest economies” over 2014. Growth, returning in force last year, is expected to accelerate over this, the economy growing by 2.9%. George Osborne is apparently “vindicated”.

But as we’ve highlighted, a fairly cursory glance away from the headline-grabbing GDP figures tells a very different story. Real earnings are still falling. Firms are barely investing. Productivity is down. And the latest figures for exports show the UK is still spectacularly failing to pay its way in the world, with sales of UK goods and services to the rest of the world falling to their lowest level since November 2010.

www.neweconomics.org/blog/entry/the-dang...s-of-debt-led-growth