| Q.E.....£895 Bn and rising... 08:06 - Jul 16 with 773 views | BanksterDebtSlave |
Michael Forsyth, the committee’s chairman, said: “The Bank of England has become addicted to quantitative easing. It appears to be its answer to all the country’s economic problems and by the end of 2021, the Bank will own an eye-watering £875bn of government bonds and £20bn in corporate bonds.”
Lord Forsyth said the scale and persistence of QE — which was now equivalent to 40% of the economy’s output — required the sort of “significant scrutiny” the Bank had not faced up until now.
“Going forwards, the Bank must be more transparent, justify the use of QE and show it’s working. The Bank needs to explain how it will curb inflation if it is more than just short term. It also needs to do more to mitigate widening wealth inequalities that have resulted from rising asset prices caused by QE.”
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| Q.E.....£895 Bn and rising... on 08:08 - Jul 16 with 756 views | chicoazul |
It’s all basically irrelevant now. Debt matters to individuals not to the country. |  |
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| Q.E.....£895 Bn and rising... on 08:21 - Jul 16 with 703 views | BanksterDebtSlave |
| Q.E.....£895 Bn and rising... on 08:08 - Jul 16 by chicoazul |
It’s all basically irrelevant now. Debt matters to individuals not to the country. |
Well, as the incoming wave of inflation will further disincentivise saving let's hope we all enjoy living in perpetual debt going forward....well 99% of us anyway.
That can is going to be kicked down an infinitely long road. | |
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| Q.E.....£895 Bn and rising... on 08:37 - Jul 16 with 645 views | chicoazul |
| Q.E.....£895 Bn and rising... on 08:21 - Jul 16 by BanksterDebtSlave |
Well, as the incoming wave of inflation will further disincentivise saving let's hope we all enjoy living in perpetual debt going forward....well 99% of us anyway.
That can is going to be kicked down an infinitely long road. |
Oh I agree. Savers and the careful & thrifty will suffer under the inflation to come which btw I don’t think will be terrible but pretty bad. Governments like inflation as it helps swell the treasury.
I note Apple are bringing out a buy now pay later feature to Apple Pay. More debt for people. Debt for everyone! | |
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| Q.E.....£895 Bn and rising... on 08:46 - Jul 16 with 621 views | BanksterDebtSlave |
| Q.E.....£895 Bn and rising... on 08:37 - Jul 16 by chicoazul |
Oh I agree. Savers and the careful & thrifty will suffer under the inflation to come which btw I don’t think will be terrible but pretty bad. Governments like inflation as it helps swell the treasury.
I note Apple are bringing out a buy now pay later feature to Apple Pay. More debt for people. Debt for everyone! |
And all while being encouraged to buy less to save the planet!  | |
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| Q.E.....£895 Bn and rising... on 08:47 - Jul 16 with 608 views | Oldsmoker |
| Q.E.....£895 Bn and rising... on 08:08 - Jul 16 by chicoazul |
It’s all basically irrelevant now. Debt matters to individuals not to the country. |
Iain Banks once said.
"Your society is broken so who should we blame?
Should we the blame the rich, powerful people who caused it?
No, let's blame the people with no power and no money and these immigrants who don't even have the vote.
Yea, it must be their f**king fault." |  |
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| Q.E.....£895 Bn and rising... on 08:56 - Jul 16 with 575 views | SuperKieranMcKenna |
| Q.E.....£895 Bn and rising... on 08:21 - Jul 16 by BanksterDebtSlave |
Well, as the incoming wave of inflation will further disincentivise saving let's hope we all enjoy living in perpetual debt going forward....well 99% of us anyway.
That can is going to be kicked down an infinitely long road. |
Indeed and successive governments have kicked the can down the road in terms of raising interest rates. They’ve allowed people to be too leveraged on their borrowing (particularly mortgages), to the point where any material interest rate rise is going to be very painful, to a lot of people! |  | | |
| Q.E.....£895 Bn and rising... on 09:08 - Jul 16 with 534 views | thebooks |
That “debt” is very easily serviceable over decades. Preferable to us trying to “repay” it by cutting government spending over the course of a parliament or something, which I expect would be the proposed alternative.
How effective QE is is a different question.
Also, the “if” around inflation there is doing a lot of work. I like how they tack on widening equality at the end, though, almost like they nearly forgot it. |  | | |
| Q.E.....£895 Bn and rising... on 09:15 - Jul 16 with 522 views | mylittletown |
Excellent.
Former Tory minister Forsyth blames the widening wealth inequalities on the Bank of England, not on the politicians. |  | | |
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