March 6, 2009
It was coming, but now it is here: The government has finally gone mad. A decision to put another £150 billion into the economy to “improve cash circulation” is pure voodoo economics and will guarantee inflationary pressure unseen since Mugabe’s Zimbabwe and the Great Depression.
The shocking announcement yesterday by Labour chancellor Alistair Darling that he had authorised the Bank of England to print the banknotes after buying assets such as government securities and corporate bonds will mean that that bank will put more money into circulation than at any one time in its 300-year history.
Media today quoted former Treasury advisor Dr Ros Altmann as warning that “We should all be extremely worried that the Bank of England appears to have abandoned its core remit, which is to safeguard the nation against inflation.
“By providing massive monetary stim
Tags: bnp, labour, conservative, economics, politics, britain, uk, inflation,
Location: Stafford, Staffordshire, United Kingdom (UK/GB) (load item map)
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