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..There's a little Samuel Pepys in all of us..

Thursday, October 06, 2011

Quantitative easing has hit Britain..
It must be said, that printing money to hand to the banks, so more is available for loans to small businesses.. is an insane solution..
While some jobs may be created.. this will do nothing for us in the long run.. as has been evidenced in the US..
Barack himself took some shots, in preparation for next years election campaign..
Obama spoke at a White House news conference after thousands of anti-Wall Street demonstrators protested at New York’s financial district and in several U.S. cities this week against economic inequality and the power of American financial institutions..
“I think people are frustrated and the protesters are giving voice to a more broad-based suspicion about how our financial system works,” Obama told reporters..
This from a man who can't seem to get his national unemployment figures below 9%..
But back here..
It's not hard to imagine what this will do to our ageing population as they claim their pensions for their 'golden years'.. annuity payments for those still working will continue to rise..
We are seeing big industry laying off workers by the thousands.. even the venerable BBC is cutting staff by 2 thousand.. and the Gods alone what those journalists.. presenters.. actors.. will find new employment..
What we can look for now, is inflation to begin rising.. despite the Bank of England holding interest rates at 0.5% until 2013, at least..
This situation as it stands today.. has the EuroZone in utter financial turmoil.. Britain not far behind.. the US imploding.. Japan struggling under the weight of shrinking world markets and the cost of natural disasters.. the entire world playing electronic Monopoly with sums of money which defy imagination..
One must wonder how long it will take to repair this worldwide problem..
Our grandchildren will still be struggling.. and what history will have to say concerning the first decade of this new millennium will reflect the fumbling manner in which our leaders have dealt with this situation..

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