The Financial Crisis That Won't Go Away

Oh what a tangled web central bankers weave, when first they practice to deceive. As was always predictable, exiting the â??quantitative easingâ? the US Federal Reserve, the Bank of England and others launched in the wake of the credit crunch to support failing banking systems and collapsing demand is proving an exceptionally tricky business. It threatens almost as many problems for the world economy as the original money-printing was trying to solve. There is no mess quite so bad, it might be said, that central bank intervention doesnâ??t make worse.