mailto: blog -at- heyrick -dot- eu
Printing money has made us all £10,000 better off, says BoE
About two weeks ago, the BoE (Bank of England) came along to tell us that their measures of quantative easing (otherwise known as "printing a bunch on money") has - get this - made us all £10,000 better off.
You can stop laughing now.
Perhaps the bloke in the picture (the one who closely resembles a smug git) is better off. And the Tory cronies as well. However I'd like to hear Mr. Mervyn King explain how a pensioner in receipt of the Basic State Pension is now £10,000 better off when it is more than likely more than they'd expect to receive in a year? The Basic State Pension is £107.45/week which is £5587.40 a year (and divide by twelve, avg. £465.62/month). Yes, it is the laughing stock of Europe. Anyway, you can see there's no way a persion trying to survive (and I don't say "live", I say "survive") on five and a half grand a year is going to think "whee! I'm ten grand better off".
I think what the BoE means is its hardcore investers will rake in some extra millions and averaged across the population.....that's the thing, numbers are remarkably easy to fiddle to support practically any argument.
I heard a lovely quote that seems appropriate. I don't remember where, or who said it first, but I'll share it all the same:
Give a man a gun,
he can rob a bank.
Give a man a bank,
he can rob the world.
Please note that while I check this page every so often, I am not able to control what users write; therefore I disclaim all liability for unpleasant and/or infringing and/or defamatory material. Undesired content will be removed as soon as it is noticed. By leaving a comment, you agree not to post material that is illegal or in bad taste, and you should be aware that the time and your IP address are both recorded, should it be necessary to find out who you are. Oh, and don't bother trying to inline HTML. I'm not that stupid! ☺ ADDING COMMENTS DOES NOT WORK IF READING TRANSLATED VERSIONS.
You can now follow comment additions with the comment RSS feed. This is distinct from the b.log RSS feed, so you can subscribe to one or both as you wish.
(Felicity? Marte? Find out!)
List all b.log entries
Return to the site index
PS: Don't try to be clever.
It's a simple substring match.
Last read at 12:26 on 2021/08/04.
© 2012 Rick Murray
This web page is licenced for your personal, private, non-commercial use only. No automated processing by advertising systems is permitted.
RIPA notice: No consent is given for interception of page transmission.