Money printers get ready to roll their presses!

New money comes spewing out!

We may be in for more printing of money today. Well, not actually printing the stuff, more a case of easing it quantitatively through government computers (mindful that the Taxpayers' Alliance might be watching!) and telling the country that -

NEW MONEY!

is available to help the economy out of the doldrums. Do they take us for fools? They surely do!

UPDATE at 12.30pm

It's going to be £75 billion. I'm just wondering who will actually benefit. Perhaps we could have an audit trail published to tell us where each pound is going?

The news has been met with feint enthusiasm from the CBI. Ian McCafferty, the CBI's chief economic adviser says, "This measure will help support confidence, but we need to recognise that its impact on near term growth prospects is likely to be relatively modest. Only once the turmoil in the eurozone is resolved will confidence be fully restored."

How long is a piece of string?

Posted in: debt crisis,quantitative easing