And so now the madness resumes

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And so Mervyn King (pictured above) begins to blow a new bubble, after the panicking instructions from his masters in Whitehall to soak up their debt with more ‘de novo’ paper, to cover up their broken ‘austerity’ model, where somehow more economic growth can be generated by raising tax and regulation burdens on entrepreneurs.

They just don’t know what to do any more, so they are reverting to type.

Debasement of money is the only game they know.

Or as Peter Schiff so eloquently says, you could save a lot of money on central bank governor salaries by replacing them all with parrots which have learned just one phrase:

“Print More Money!”

For detail on the latest £75 billion of quantitative easing, which could turn into £750 billion if it is spent into the economy, try here:

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About Andy Duncan

An Austrian Internet Vigilante trying to live Outside the Asylum
This entry was posted in Austrian Economics. Bookmark the permalink.

One Response to And so now the madness resumes

  1. AL says:

    Are the banks not leveraging this at more like 30-40x??
    So it could become alot more?!

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