US Should Heed The UK’s Economic Woes

According to the U.K. Office for National Statistics, the U.K. economy contracted by 0.3% in the fourth quarter of 2012. As an observation in the U.K. Telegraph put it, the economy is now on the threshold of an “unprecedented triple-digit recession”. However, when you think about it, saying that the U.K. faces a triple-digit recession is a bit of misnomer, given that the economy got an