Posted by: iangilbert | February 9, 2012

Hurting, but not working

In 2009 George Osborne said:

“quantitative easing – printing money by another name – is the last resort of desperate governments when all other policies have failed.”

Today we learn that there will be another £50bn of ‘qantitative easing’ – money pumped is to be pumped into the economy. As George said, a desperate government who’s policies have failed. If I had time I’d go into some detail about why a monetary stimulus is not likely to be effective at a time of fiscal contraction…

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