thanks for the provocation. The whole strategy of QE is of the exact same cloth as Milton Friedman's monetarism as well as the rest of the whole neo-classical fiction. QE in Japan has produced about 20 years of recession. There the banking cartel and the oligarchs of industry have done well, while the population of Japan is dying for lack of a personal future. Gresham's Dynamic describes a process where corrupted money tends to drive out honest economics. Part of this process is driven by false economies favoring the glorification of Greed and corporate patronage. In the US the Fed. Reserve has gone through QE 1 and 2, with the primary effect has been to inflate a commodity speculation bubble, and anywhere else double digit returns on investment can be gained. Not a word about the suppression of demand because it is just not rational to re-inflate speculative bubbles when the whole economy as a commons is crashing. One of Greenspan's most memorable quotes is where he describes gains in benefits and wages by working people as inflationary. This is the bolder face of "positive" economics. The other aspect to look at is that the privatized banking system really does sees itself as the definition of a sovereign economy. This is also how little deliberation is required to back the same level of public debt to feed the speculative ponzi schemes. The economic model that QE is based upon assumes that "stability" is defined by constantly inflating commissions. Another is that such almost unimaginable funds in the way of ultra, ultra low cost. Claiming that QE is any way appropriate way of addressing inflation, is dancing with a fig leaf's amount of caution. This is economics as theology. There is also no mention of the socialization by public debt for private gain, of course. The diagrams look impressive, the text seems soooo reassuring, and it is a collection of fictions. Go baaaccckkk to sleep, nothing is wrong, ignore the man behind the curtain. Most of the QE funding will end up in the derivative markets seeking out fictional returns. Again these natterings about "controlling inflation go straight back to the Greenspan quote, ie to suppress wages by multiple means and to plunder various aspects of the commons. Tadit On Fri, 23 Sep 2011 06:56:51 -0400, robert searle <[email protected]> wrote:
The following maybe of interest 1-10 of 116,000 results· Advanced * Quantitative Easing Explained
The Bank of England aims to keep inflation at the 2% target set by the Government. The Bank uses interest rates to control inflation. It sets an interest rate at which it lends to ... www.bankofengland.co.uk/monetarypolicy/pdf/qe-pamphlet.pdf · PDF file