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Wednesday, January 21, 2009

King Paves The Way For Quantitative Easing

Mervyn King, Governor of The Bank of England, paved the way for quantitative easing (printing money), or as he put it "unconventional measures", in order to lessen the effects of the recession.

When all else fails, throwing shitpot loads of money at the problem may in the short term alleviate some of the distress.

The irony of this "solution" is that the state is in effect borrowing to get itself out of the problems caused by excess debt, which is exactly how we got here in the first place.

Our economic future has now been mortgaged for decades to come.

1 comment:

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