Hot off the printing press (literally)

Wookster

http://business.timesonline.co.uk/tol/business/economics/article5757895.ece

The Bank of England is set to begin "printing money" in a bid to boost the economy after its rate-setting committee unanimously agreed that its Governor must write to the Chancellor.
The minutes of the Bank's rate-setting meeting earlier this month showed that as well as voting 8-1 to cut rates to 1 per cent, the nine-strong Monetary Policy Committee (MPC) agreed that the Mervyn King, the Bank's Governor, should write to Alistair Darling to seek permission to embark on "quantitative easing" — sometimes called printing money.

This will be disastrous. Utterly disastrous.

itsnever2lateisit?

We can look forward to 1970's inflation rates:mad:

pandamonia

Wookster wrote: »

http://business.timesonline.co.uk/tol/business/economics/article5757895.ece



This will be disastrous. Utterly disastrous.

I disagree.

This money never exsisted in the first place and the world wide losses are so big that money just disapeared into thin air. the value of something doubles or halves it is never actualy money until you borrow against it.

as long as they keep control of it and the rest of the world follows which they will (USA) then all they are doing is pushing liquidity into a system that is frozen up.

Really2

Looks like interest rates will remain near 0% for the next 3 years also

"The Bank has forecast that inflation will remain close to zero until 2012."

chucky

Wookster wrote: »

http://business.timesonline.co.uk/tol/business/economics/article5757895.ece



This will be disastrous. Utterly disastrous.

Wookie, how long did it take you to think up the title of the thread?

it's not really printing money, distributing and spending it like the Argentinian or Zimbabwe dicatorships. QE will creating money to buy government bonds.

"Under quantitative easing, the Bank will buy up government and other securities to boost the money supply"

purch

This will be disastrous. Utterly disastrous

Why ? :rolleyes:

Cue: Misinformed Rants !!!



P.S. I'm going for 17 references to Zimbabwe and 12 references to Weimar in this particular thread !!!

Dithering_Dad

purch wrote: »

Why ? :rolleyes:

Cue: Misinformed Rants !!!



P.S. I'm going for 17 references to Zimbabwe and 12 references to Weimar in this particular thread !!!

Before you start re-hashing all the same arguments you had with !!!!!!, please remember that Wookster is !!!!!!.

Rochdale_Pioneers

Just keep repeating the mantra "printing money is bad". That way you can't hear any arguments to the contrary and are concentrating so hard that you don't see any evidence that disagrees with you.

Mind you, you have to feel sorry for WTFookster. Chanting "printing money is bad" whilst fixating on an image of Robert Mugabe isn't my idea of masturbatory fantasy. Still, it takes all sorts.....

pickles110564

Wookster wrote: »

http://business.timesonline.co.uk/tol/business/economics/article5757895.ece



This will be disastrous. Utterly disastrous.

!!!!!! why have you resorted to using this new account when you already have several others that you can post under?

ad44downey

We'd be better off with Laurel and Hardy in charge of the economy.

How come the MPC of the Bank of England doesn't get sacked for its abject failure?

Dithering_Dad

pickles110564 wrote: »

!!!!!! why have you resorted to using this new account when you already have several others that you can post under?

Apparently !!!!!! has stopped posting under his !!!!!! username because he's tired of all the arguments he gets into and all the emnity he has created. The irony that he immediately logs on with a new username, posts the exact same stuff and starts arguing with the exact same people about the exact same topics just seems to escape him.

I mean, where is it going to get him apart from changing his username again and again, caught in an endless loop simply because he cannot put aside old arguments.

But then logic never really was one of !!!!!!'s strongpoints, now was it?