At Last, Question Time for the Money-Printers

Along with “talking tough on austerity, but not really implementing it”, QE and ring-fencing form the triumvirate of post-credit-crunch measures – or, more accurately, half-measures – favoured in the UK and, more or less, in the US and eurozone too.

The trouble is that both QE and ring-fencing are a disaster waiting to happen.

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