Wednesday, Sep 29, 2010
Zero rates have allowed big fat banks to sit on their big fat buttocks and earn 2-3%
The Web's biggest Benthamite bollocks buster: Banking's 'recovery' is being used to enable the Big to get even bigger - at lower and lower prices.
''Let me tell you what zero rates (ZIRP) and QE have done so far in terms of energising the flow of credit, and generally aiding a broad socio-economic recovery. Zilch. Now let me explain what these strategies have done for some elements of our 'risk' capitalist system - which in terms of wealth generation, by the way, can still knock agrarianism and communism into cocked hats....when it's not being stitched up for the benefit of around 0.6% of the global population.''
Posted by hpwatcher @ 07:37 PM (390 views) Add Comment
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