Julian Cope presents Head Heritage | U-Know! Forum | State of confusion. another 30 billion

Squid Tempest

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Squidonomics

Nov 06, 2009, 12:58

Apologies if this point has been raised elsewhere in this thread - I haven't had the time to read through every post.

So. The Bank of England is bunging another £25 billion out in "quantitative easing". If I understand this correctly, which I probably don't as I know b*gger all about economics, this means £25 billion spent on government bonds which help to prop up the banks and the fat cats at the top of the feeding chain.

On the radio this morning they were saying that this was necessary as the last chunk of billions hadn't yet filtered down through the economy. So, my point is this. If they want it to "filter down", why the bloody hell can't they just give the cash out to the poorer sectors of society in the first place? Surely this would have a positive effect on the economy - people able to go out and spend more etc, without the drawback of the bankers creaming off the cash first?

Am I missing something? Or are the greedy bastards just giving themselves more of the taxpayers money for fun?

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