Tuesday, May 22, 2012

Do It, You Lovely Useful Idiots!!!

IMF tells UK to consider rate cut to boost growth

The International Monetary Fund (IMF) has said the UK's continuing economic weakness means authorities should consider more Quantitative Easing (QE) and even cutting interest rates. Its annual look at the UK economy endorsed the government's deficit cutting plan, saying it was essential. It said monetary stimulus had helped the economy, but it remained flat. The IMF said the Bank of England should "reassess the efficacy" of cutting rates below 0.5%. The report said that monetary stimulus could be provided via further QE and possibly cutting the policy rate. It said the Bank of England's Monetary Policy Committee (MPC), which sets interest rates and authorises other monetary boosts, such as QE, should look at loosening the purse-strings.

Posted by general congreve @ 12:38 PM (2388 views)
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7 thoughts on “Do It, You Lovely Useful Idiots!!!

  • general congreve says:

    Basically, they went for that G8 meeting over the weekend, quickly agreed to all print a tonne more money, and then cracked open some beers and watched the footy.

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  • d!ckheads the lot of them building trouble for the future

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  • Ahhh, a Lost Decade.

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  • general congreve says:

    Boost growth? That’s right, we can just boost growth. Problem solved.

    Austerity versus Growth, that’s the latest political catch phrase being banded about the media. As if there’s a simple none-pain way out of this. “Oh, forget that horrible faux austerity, we’ll just print and grow, happy days”.

    What Orwellian double speak! Deflationary economic and currency crash collapse versus stagflationary economic and currency destruction, that is the truth! Although austerity vs. growth does trip off the tongue easier, I’ll give them that much.

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  • i remember the 90`s says:

    How would dropping int rates help ,i mean the banks charge their customers what they like!!!!!!!!

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  • general congreve says:

    Oh noes, hide the gold article, can’t have that.

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  • Appart from the simplified arguement of “austerity v growth” which I guess is about as complicated as these muppets can understand,since when has either the provision of additional credit/money or additional government borrowing constitued “growth” other than in the calculation og GDP for statistical purposes?Why doesn’t anybody take these idiots to task and interrogate them over the exact mechanism of how this works in terms of aggregate demand,production,savings and the balance of trade..How will these measures manifest themselves in real UK output both for domestic and non domestic puposes.
    Who has concluded that,for example, a temporary cut in Vat will not either stimulate imports or enable consumers to pay don debt more quickly?
    As an employer I can confirm that the availability of credit to SME’s is non existent on realistic terms and even if by some miracle our demand shot through the roof we wouldn’t be able to access the capital to take on more staff,purchase plant & machinery etc.
    If only life was as simple as these jokers would like to think.Its just so terribly depressing.

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