You can also tell these people from giveaways like QT being "a quiet and alarming transfer of wealth to the financial sector."
Or perhaps I missed the bit where the Guardian said that QE was "a quiet and alarming transfer of wealth from savers to the public sector"
As an aside, about the only fiscal restructuring that DID make sense in the 2010s, and was foreseaable, indeed foreseen by many corporate treasuries, was to roll over medium-term debt to the longest possible maturity. Did our genius philosopher-kings at the Treasury think of doing that? ooopsy.
One of the little joys is that that QE money - the central bank reserves - is v short term borrowing. Which is what they doublde down upon, of course.....
"This was called quantitative easing (QE) – and the idea was to pump money into the financial system to keep the City running."
It wasn't just for the City, it was also to stop the UK banking system going tits-up, which would have been more than a little inconvenient, even (especially) for Guardian readers.
Good article
You can also tell these people from giveaways like QT being "a quiet and alarming transfer of wealth to the financial sector."
Or perhaps I missed the bit where the Guardian said that QE was "a quiet and alarming transfer of wealth from savers to the public sector"
As an aside, about the only fiscal restructuring that DID make sense in the 2010s, and was foreseaable, indeed foreseen by many corporate treasuries, was to roll over medium-term debt to the longest possible maturity. Did our genius philosopher-kings at the Treasury think of doing that? ooopsy.
One of the little joys is that that QE money - the central bank reserves - is v short term borrowing. Which is what they doublde down upon, of course.....
It's beginning to get more than a tad irritating, such that if I come across the phrase "crashed the economy" just that teensy but more...
The decent bits of hickory will be coming out of the shed.
After the first big quote: "We should be doing more QE."
Should that be: "We should be doing more QT" because we have higher inflation?
"This was called quantitative easing (QE) – and the idea was to pump money into the financial system to keep the City running."
It wasn't just for the City, it was also to stop the UK banking system going tits-up, which would have been more than a little inconvenient, even (especially) for Guardian readers.
MMT is a glitch in the matrix. I watched a couple of tubes by L. Randall Wray on MMT, trying to reconcile his version of the world with reality.