Quantitative Easing - Corrupting the Nation
KEEP up at the back. The new big thing to save the world economy is "quantitative easing". Not an upmarket euphemism for a massage, but the latest and most desperate measure yet by central banks to stop a severe recession turning into depression. And it may soon be adopted in the UK.
Printing more money.
Magic new money: have we really walked into this Last Chance Saloon? Yes, we have.
But why has "quantitative easing" not been wheeled out until now? It carries huge risks. One is that it lets the inflation genie out of the bottle and could spark hyperinflation. It also casts central bank independence to the winds and puts enormous financial power into the hands of government with the attendant risks of "crony capitalism" and corruption.
Ah, now I see why it is so attractive to some governments and governments in waiting....