There are many good reasons to gasp at Jeremy's Corbyn's planned assault on capital, but his enthusiasm for "People's QE" is not one of them.
Overt monetary financing of deficits - the technical term - is exactly what the world will need if the global economy tips into another recession with interest rates already at zero and debt ratios stretched to historic extremes.
Governments that do not have such a contingency plan in place to combat a potential deflationary shock from East Asia should be hauled before their respective parliaments to account for their complacency.
HSBC's chief economist, Stephen King, argues such drastic measures may be our last resort in a "Titanic" world with few lifeboats left, if anything goes wrong. He is not alone in the City of London.
You can read the rest @
http://www.telegraph.co.uk/finance/economics/11869701/Jeremy-Corbyns-QE-for-the-people-is-exactly-what-the-world-may-soon-need.html
The US can use some of this, too. Where is OUR Jeremy Corbyn? A good question indeed:
http://www.commondreams.org/views/2015/09/14/where-our-jeremy-corbyn
Yes, there are those who believe that Bernie Sanders is or is not our Jeremy Corbyn:
http://dissidentvoice.org/2015/09/sanders-is-not-corbyn/
But if US history is a guide, anyone who truly threatens the powers that be will never make it into the White House, except maybe as part of a tour group.
No comments:
Post a Comment