Government to try more Quantitive Easing

[Gromit]

I seem to remember the right whingers were not in favour of this when Labour tried it a couple of years ago. The Labour Govetnment were likened to Mugabe's Zimbabwe and Hitler's Germany. Printing more money was not yhe answer we were told, and it will lead to galloping inflation.

Now, in yet another spectacular U-Turn, the Tory led Coalition Government plan a spot of Quantitive Easing, pumping more money into the economy.

An admission of failure? Any right whingers fancy some humble pie?

[Gromit]

When George Osborne was opposition Chancellor

//
George Osborne has warned that the Bank of England’s strategy of quantitative easing is a “leap in the dark”.
The Shadow Chancellor described the decision to effectively print more money as a “last resort”, necessary because of the “complete failure” of Labour’s other measures to tackle the recession.
He told BBC News, "I don't think anyone should be pleased that we have reached this point. It is an admission of failure and carries considerable risk.” //

http://www.conservati...leap_in_the_dark.aspx

[ichkeria]

I'm a Labour supporter, and I fully admit therefore to being biased, but I've never had a greater sense of "they don't know what they're doing" about any government.

[sandyRoe]

Is this Plan B, as in: There is no plan B?

[Quizmonster]

Sandy, some senior Tories are, I believe, already talking of "Plan A+". That is, anything other than what Ed Balls and many experts have been calling for for months...namely, Plan B. You couldn't make it up, really. A rose by any other name would smell as sweet, eh?

[emmie]

If Labour's Ed Balls was so good at planning, finance, why isn't he in government, or indeed do something about the problems when he was.

[Gromit]

Em10

Because he was Secretary of State for Children, Schools and Families.

Osborne is only in post thanks to the the Clegglodytes.

[Quizmonster]

Another reason, of course, was that he was not one of the casino bankers and so not in much of a position to "do something about the problems" created by them.

[rov1100]

Too much emphasis has been placed on this money printing exercise. Its not the availability of money in the system but the spending of it that matters. When people hear of dire straights they tighten their purse strings and put off buying major items.

The thing that got us and the rest of the world out of trouble a couple of years ago was the car scrappage scheme which enticed reluctant buyers to part with their hard cash.