The Communists at the Financial Times call for MORE STIMULUS, LESS AUSTERITY!

Damn commies everywhere!  Now it's the Financial Times Daily Worker calling for more government spending.

Many indicators are now pointing in the wrong direction: average hourly wages are declining as are house prices, while unemployment is ticking up. This reflects both the end of the fiscal stimulus – government spending is falling – and greater caution in the private sector. Consumer and business spending are decelerating.

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In abnormal times, policymakers should also be alive to the balance of risk between inflation and unemployment. Letting the latter rise and become entrenched at a time of weakness would risk hardening the economic arteries further.

The real peril now is a double-dip recession rather than inflation. This is no time for tightening.

Tightening would be bad, government spending would be good.  We're through the looking glass now, Alice.