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I am inclined to believe that the madness of spending money is going to be the debt-laden doom of us all. If we're so impetuous to purchase homes, what happens to us when we cannot afford to reside within the country we were born in? https://www.ft.com/content/c061e51a-c8f5-11e6-9043-7e34c07b46ef - Consumer spending rises but savings fall to low levels.
Parliament will hold a three hour debate on the issue of ‘Money Creation and Society’ on Thursday 20th November. This will be the first time in 170 years that Parliament has debated money creation. The Money Creation and Society debate is being hosted by Steve Baker (Conservative), Caroline Lucas (Green), Michael Meacher (Labour), Douglas Carswell (UKIP), and David Davis (Conservative). The backbench debate in the Main Chamber of Parliament creates an opportunity for MPs from all parties to learn about the issue, ask questions and deepen their understanding. There are lots of important questions that Parliament should address during the three hours in the Main Chamber, these include: Who should create money? Should high-street banks have the effective right to create money every time they make a loan, given the recent consequences for the economy? How should newly created money be used? Do we want banks to have the power to create money when this leads to unaffordable housing and financial instability? Should we have allowed the Bank of England to create £375bn with little scrutiny from parliament, and use this money to inflate financial markets? Were there better uses of this money? See the whole Positive Money blog post here: http://www.positivemoney.org/2014/11/uk-parliament-debate-money-creation-first-time-170-years/