Friday, November 5, 2010

Printing and Pumping (continued from Pragmatic Capitalist post)

Shares surge back to pre-crunch level... as Osborne considers printing more money

Share prices shot back up to pre-banking crisis levels for the first time last night – increasing the assets of millions of British savers. The FTSE100 index of leading shares closed up 113.82 points or 2 per cent at 5,862.79, its highest point since June 9, 2008. The surge came after America’s central bank, the Federal Reserve, pumped a further $600billion (£370bn) into the U.S. economy late on Wednesday...... Many experts are unsure whether the huge experiment with printing money by the U.S. authorities will work. In Westminster yesterday George Osborne yesterday revealed that the Bank of England stands ready to inject further cash into the economy should the UK recovery wobble.

Posted by jack c @ 04:49 PM (1586 views)
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7 thoughts on “Printing and Pumping (continued from Pragmatic Capitalist post)

  • Give the addict another syringe & he will be happy for a while or dead..

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  • This can hardly be a continuation of the previous Pragamtic Capitalist post as that claimed that the Guv was not creating new money through QE ;this says the complete opposite.

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  • “inject further cash into the economy should the UK recovery wobble.”

    this should read

    “print more money should the UK recovery wobble”

    That’s the spirit! Print like there is no tomorrow…. more and more everyday I worry about this country. Yet the masses don’t really understand what QE is, this country is DOOMED.

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  • no no to printing money,,,,,,,,,,yes yes to increasing interest rates.

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  • what has changed? Shares back to pre-crunch level and 25% of the S&P at new all-time highs. Can anyone shed light on this??? Other than productivity up, payrolls down. I read today that equities are definitely NOT in a bubble and that Gold and commodities are definitely NOT in bubbles or at risk of creating inflation. I am very confused.

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  • “Chancellor George Osborne hinted that the Bank of England would consider further measures if the economy stalls”

    Eh? But isn’t the Bank of England meant to be … oh. This is another one of those independent monetary policy decisions like the one made in Parliament in Oct 2008.

    Independence of the Bank of England is very important until direct intervention is needed, see.

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  • Bystander
    I’m as bemused as you.

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