Default Britain?
£75bn extra quantitative easing had originally been suggested by the governor of the Bank of England.
A measly £50bn were granted though as Mervyn King and his two merry men were outvoted by the six other members of the committee, bringing the actual QE programme now to £175bn.
This QE or rather throwing fresh money at the problem…will it be successful or is it just a lesser evil and simply inviting hefty deflation?
Tory leader David Cameron, in view of the Labour government’s expansion of national debt to £1.4 trillion over five years, warned today that these commitments might be in danger of not being met. Default Britain? Terrible thought but on the other hand perhaps taken into deliberate equation by Brown & Co?
Down with the GBP and hello EURO?
At least leaving a total mess to the Tories whenever there will be a general election?
What a bunch!
Written & © by Helena Lind
August 19th, 2009 at 1:30 pm
Is the objective to deliberately stoke up inflation so the size of the debt in real terms reduces over time?
August 19th, 2009 at 2:15 pm
That’s one possibility – the other is to perhaps try to wrap up and start afresh?
Like one of these pre-pack administrations.
Govenments today run their businiss in such shady ways that unbribable forensic accountants would probably have the time of their lives.