Tuesday, Sep 28, 2010
Huh!
Yahoo / reuters: Bank's Posen says more QE needed to avoid Japan-style slump
The Bank of England should start pumping more money into the economy in order to prevent Britain falling into the same kind of slump Japan did in the 1990s, Monetary Policy Committee member Adam Posen said on Tuesday.
Arguing that while his vote at the October MPC meeting was not a foregone conclusion, Posen said right now he believed more stimulus was needed
Posted by mark @ 02:38 PM (865 views) Add Comment
3 Comments
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1. mark said...
The next door neighbour said " All I could hear was monkey noises, it sounded like a zoo, I never knew I lived next door to the BOE"
2. sibley's b'stard child said...
"Arguing that while his vote at the October MPC meeting was not a foregone conclusion".
That's very magnanimous of him.
3. slartibartfast said...
I seem to remember the Japanese did try austerity measures once. It didn't go well for them. I notice the new Japanese PM is spending on steroids. If it's more fiscal stimulus and less QE it might go well for them.
"Posen said that his preferred method of stimulating the economy was more QE but if that failed the government could resort to more fiscal stimulus or buying corporate bonds."
What chutzpah, they never give up do they. It's all about banksters control of distribution and privatised profits.