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OK, so the BOE isn’t the Left, but really (???), it doesn’t sound like there are too many Righties there running the show.
The Bank of England stepped up its aggressive campaign to end Britain’s economic slump today by ordering a surprise £50 billion expansion of its radical scheme to jump-start growth by “printing money”.
And Gordon Brown’s Labor is doing their part to send England to hell in a hand basket.
May 9, 2009, 2:09 pm at 2:09 pm
I was reading an article that was making the arguement that goverments never pay off the money they owe properly. Rather they use inflation as a tool to get rid of it.
Eg: If you held $1,000,000 in Zimbabwe dollars 30 years ago it was a lot of money, if you were still owed $1,00,000 in Zimbabwe dollars today its toilet paper. Given most debit is held as US dollars (Im no economist so I may be way wrong here, feel free to correct me), then massive inflation of the US currency should “reduce” everyones debit??
As I said correct me if Im way off base..
May 10, 2009, 1:16 am at 1:16 am
Actually Mole. Re: your argument. And I’m no economist either, but there are financial whizzes supporting your argument. And considering how much the US just recently borrowed (OMG!?)…
It’s towards the end of the clip. (US hyper inflation)