Quantitative Easing

£375 billion was poured into the UK economy, or to be correct, it was poured into the banks, those same banks that destroyed the UK economy. It pumped up the share market, lined the pocket of bankers and the rich.

We have an economic illiterate Chancellor of the Exchequer who cut money paid to the poor.

Giving money to the rich has negligible effect on the economy as there is a limit to the number of servants you can employ, the number of yachts, mansions, jets you can buy.

Handing money to the poor, even of they fritter it away on drink, drugs and widescreen TVs, is money spent in the economy.

The poor, by their very nature of being poor, are living on the edge, will spend extra money, as there is always a need, clothes that are worn out, household appliances that need repair or replacement, maybe even better food.

We could have increased welfare payments, given a  windfall, left money in the street, a lottery based upon National Insurance number, we could have given students grants for university fees.

The money could have been spent on infrastructure, on an improved nationalised railway, on locally owned and controlled local power grids, on books for libraries.

Tags: money, Quantitative Easing