[Re: A Romney victory would have a big impact on the UK economy, yesterday]
The difference between Romney and Obama does look significant, but neither of them will be able to solve the really pressing problems that the US faces. They won’t eliminate the deficit, and they will be unable to sufficiently deregulate the US economy. Romney does have an advantage, however. His substantial business experience makes it more likely that he will avoid the state-guided and taxpayer-funded rescue packages that Obama favours. But should the US be content with a President with better reactions than his predecessor? It needs someone who will proactively solve the country’s problems.
The US election has been considerably more enthralling than many in the UK anticipated. It was seemingly inconceivable that Romney could snatch a victory, but thanks to his trouncing of the incumbent in the first presidential debate, the race grows ever closer. If Romney wins this election, his policies will have a huge impact this side of the pond. His government would implement a pro-business, austere policy that would cut benefits and axe spending in an attempt to stimulate growth. If successful, the effects would be felt on an economic and ideological level: it would give this approach some much-needed credibility and show UK Labour supporters that a pro-austerity government can boost the economy.
Virgin is keeping its trains (for now), and snapping up the RBS branches (potentially). A busy weekend for Sir Richard Branson.
I’m glad to hear Virgin Trains will be running the West Coast Mainline for a little longer. It’s a great service.
I’m disappointed Iceland wasn’t awarded the Noble Prize for Economics. Its recovery since 2008 has been astonishing.
Americans top the list of Nobel Prizes. Not unusually, the economics award rarely goes to a European.