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Yes, Richard, that is how I understand it: Barry is talking of regular boom and bust as a normal economic cycle.
In this assured cycle, we get a Labour government followed by a Tory government. This will inevitably be followed by a Labour government, and so on.
It's like the seasons, Spring follows Winter. And one will blame the other.
If we are to believe it, Labour went bust, and now Chancellor Osborne is creating a boom.
So here goes: tick tick tick ... now wait for the boom, Richard, for it will come....
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