What flows between her headline and the two noted observations does not seem to matter greatly because whilst it is clear that Someset Webb does get the fact that QE creates significant negative social consequences, as I long ago predicted, the essence of her argument is that these can be resolved by increasing interest rates.
In other words, the argument is that increasing the pressure on those who borrow (i.e. by and large those without capital or wealth) by requiring that they pay more to those who lend (i.e. those who have wealth) will somehow reduce social pressure in society and restore well being to the majority and send a lesson on greed to the world’s billionaires even though their incomes will be increased as a result, inequality will rise, more who are clinging to solvency by their finger tips will go bust, house foreclosures will increase, and the pressure on social safety nets will increase considerably.
The Senior Lecturer’s usual analysis of the effects of QE is that all it has done is raise asset prices. Raising interest rates would, therefore, logically reduce asset prices and thus reduce that wealth disparity between the billionaires and the rest of us.
But we shouldn’t do that because all the previous analysis is ignored for today’s view from the stump.