Saturday, October 15, 2011
This is a Financial Times article by Martin Wolf behind a paywall which is why I've used a Canadian newspaper copy instead. Wolf briefly explores the difference between private debt and national debt, the effectiveness of QE and why we are heading towards a deflationary depression if we don't start thinking about new fiscal policy. More QE will not help much. Getting money to consumers and liquidating excessive private debts would be more effective at getting our economy growing. Also, here's a brief commentary from Tax Reasearch UK: Can Martin Wolf get much more unsubtle and still be polite about the Prime Minister?