egafd.com

So Boy George said in 2009 printing money is the last resort of a desperate government. And facing two ways at the same time, Vince Cable said it was the economics of Mugabe's Zimbabwe. Today the Bank of England is printing money - quantitatve easing.

Meanwhile Dave released part of his stunningly empty headed Conference speech to the newspapers 2 days ago exhorting the British public to clear their debts on credit cards etc.

Alas someone with more economic knowledge than Dave e.g. Kylie Minogue, Maya the cat, pointed out if the British public took notice of him, consumer demand would drop 25% in the year and gross national product would plummet 15%. So Dave did a quick rewrite.

Obviously if this had been a Brown speech, the Daily Mail, Star, Sun etc would have a picture of Brown as a turnip on the front cover, crucifying him for being a complete idiot.

Anyway Cameron was very cheerful as one paper pointed out in a Eric Idle sort of way "If life is jolly rotten, there's something you have forgotten. When you're feeling in the dumps, don't be silly chumps And always look on the bright side of life, doo, doo"

Fine words. Kylie Minogue for PM. Her manifesto - gyrating in gold hot pants.

You know it makes more sense!

D

And look she has a doctorate too! What a woman!

http://www.bbc.co.uk/news/entertainment-arts-15192676

I heard someone just say that they are not printing money!
They are lowering interest rates by buying Treasury securities.

What a clown Cameron looked yesterday with the credit card gaff. I've never seen so many glum blue rinse ladies. Can we please all pay off our credit cards and keep spending money please.

Ah well it's right that it is a bit of colloquilism to say "printing money". They aren't actually turning the printing presses.

But what they are doing is getting money out of thin air. This is a pretty good summary.

"Lower interest rates encourage people to spend, not save. But when interest rates can go no lower, a central bank's only option is to pump money into the economy directly. That is quantitative easing (QE). The way the central bank does this is by buying assets - usually financial assets such as government and corporate bonds - using money it has simply created out of thin air. The institutions selling those assets (either commercial banks or other financial businesses such as insurance companies) will then have "new" money in their accounts, which then boosts the money supply.

Personally I would prefer to get a nice big cheque from the Bank of England along with the rest of the population with the instructions that it will be worthless if the money is not spent by the end of the year.

Be a good citizen! Spend, spend, spend. Kylie would approve!!!! Ignore this Thatcherite grocer shite from Cameron about running UK PLC like a corner shop. Totally out of his depth compared to Kylie.

Cheers
D