Friday, August 24, 2012
What a surprise!
"an analysis by The Independent reveals that the wealthiest 10 per cent of households would have benefited from QE more than 240 times as much as the poorest 10 per cent." and " the richest households gained by an average of Â£350,000 each from quantitative easing, while the poorest benefited by an average of Â£1,400 â€“ more than 240 times less." Mervyn's position looks very precarious, given that he also was the principal designer of the gross credit expansion forcing all this attempted patch up work.