Sunday, 9 October 2011

The Sunday Times publishes my letter on QE

Out of print

The £50 billion of quantitative easing (QE) you referred to (“Bank poised to print £50bn”, News, last week) comes on top of a previous £200 billion showered on banks that have actually hoarded the money to restore their balance sheets, showing that QE is little more than Orwellian doublespeak.

The money has not been “printed” and is therefore not being spent in an economically productive way by ordinary people doing ordinary jobs or running businesses.

John Slinger, Editor of Pragmatic Radicalism: Ideas from Labour’s New Generation, Rugby, Warwickshire (£)

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