Oh well done, well done indeed

At the same time, the spiralling cost of living crisis

Luckily, the way the systemic shocks of the 2008 banking crisis and Covid were mitigated shows a way forward. On those occasions, the government, via the Bank of England, created new money on a vast scale using quantitative easing (QE): £895 billion was created between 2009 and 2021. What is needed now is a new massive ‘security QE’ programme to tackle our social, environmental and defence shortfalls.

Let’s cure inflation by printing more money.

Sigh.

11 thoughts on “Oh well done, well done indeed”

  1. I think that might go over the heads of the hard of thinking. You need to make it more explicit by putting it as:
    Let’s cure inflation by inflating money.

  2. What happened to the MMT principle of ‘we can cure inflation by taxing people and cancelling the money’?

  3. Let’s cure inflation by printing more money.

    Unfortunately that’s going to just fly over the heads of anyone that thinks we can tax our way to prosperity.

  4. Bloke in North Dorset

    Yet another data point, as if we needed one, that Spud has never seen a problem that couldn’t be solved by either printing more money, stealing everyone’s savings or some combination thereof.

  5. Is it now accepted that QE, despite the clever keyboard creation and supposed destruction (and “pushing people out along the risk curve”), is actually just printing money?

    I have to say it always struck me that way. Maybe not as straightforward as chucking freshly minted out of a helicopter, but still adding vast units of money to an economy that hasn’t expanded or increased productivity. Oh look, each unit of money is now worth a smaller piece of that economy. WellInevers.

    What should people with spare cash buy to retain some value? No sign of gold or silver going up 20% yet.

  6. Let’s cure inflation by inflating money.

    I think I’d pass a law that says the economic term “inflation” refers to, and only to, inflation of the money supply.

    Talking about the symptoms of rising prices and wages is just obscuring the government disease of debasing the fucking currency.

  7. The cunt must really hate the poor.
    “Over the last 6 months the local loaf of bread has gone from 85 cents to €1.”
    I’m not. The only thins I’ve noticed I’m paying more for is filling the cars up & the last electricity bills were stingers. I’m certainly not bothered by 20% inflation on bread prices (almost exactly what we’ve had” One loaf a day. 15cents. The shrapnel I chuck in the bucket in the kitchen I may one day get round to changing for folding stuff. If I can be bothered. All the stuff I spend my money on is unchanged. Some of it’s gone down.
    Always the same. Inflation hits harder the less income you have. Whilst the asshole middle-classes who run the economy & cause it escape with maybe having to economise on their second holiday. If they’re not spending the increased earnings they’re getting on their savings.

  8. So he’s worried by the shortfall in defence spending is he? Since when? Because in 12 years or so of reading his shit I do not recall him ever, ever beimg concerned by levels of defence spending.
    It couldn’t be that he jumps on bandwagons could it? Surely not Professor Murphy.

  9. I’ve gone from Wharburton’s farmhouse granary at £1.49 to Co-Op own-brand wholemeal at 78p, so so far inflation is running at minus 50% for me. Spudonomics shows that adding that to +25% on electricity means I’m winning with net minus 25%! 😀

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