What Quantitative Easing has done to the UK economy (04Feb10)

What has New Labour's and the Bank of England Quantitative Easing scheme done to the UK economy.

This clip is edited from a much longer interview, use THIS clip in blogs to explain to people what New Labour has done to the UK economy. Call it an idiots guide that everyone can understand.

Recorded from The Daily Politics, 04 February 2010.

Category:

News & Politics

Tags:

• new
• labour
• bank
• of
• england
• asset
• steal
• stealing
• theft
• quantitative
• easing
• uk
• economy

[pieaficionado]

Gillian has a degree in stating the bleeding obvious.

[liarpoliticians]

Bleeding obvious to everyone except Labour voters.

[coach3sheff]

what a silly analogy.

that woman talks as if she thinks she knows it all - no doubt she never needed to get into debt for anything she ever wanted.

[liarpoliticians]

How about this analogy then. The people that were prudent and saved for a rainy day are having their savings and pensions stolen from, to keep the feckless in their lifestyles they bought on credit, so they can keep voting New Labour.

Does that better suit your need for an analogy?

[Arcturo765]

it's Gordon Browns way of trying to bluff a win at the general election by claiming he has got Britian out of the recession....trouble is a lot of gullible people seem to believe him!

[karuspery]

Exactly. We are not fooled. too few homes have been lost. We need to see at least 3 million homes lost which would accurately reflect the level of debt on debt. plus interest on interest.

[ingyinginging]

Paying off a credit card with another credit card isn't really a good analogy for what the government is doing with QE.

More accurately, they're paying off credit card debt by counterfieting money, stealing wealth from savers and those on fixed incomes in the process.

[bigbullsful]

Quantitivative easing,is like building a house without any foundations,along comes the wind,and your economy is blown the pieces,never to be see again. QE is a case of desperation on the govenments part.

[OldChavvyGit]

The old duffer is wrong! The Government is not paying off it's debt with another "credit card". It's paying it off with fake money, printed on its own printing press.

A colossal scam that steals money from the country's population by debasing the currency.

[coach3sheff]

its more the people raking it in on benefits that will vote nulabour. personally I dont believe that party politics makes any difference whatsoever - its just a charade an illusion to make the people feel that they have a choice that they have power - whether nulabour or tory we would still be in this financial mess now. great postings btw good work - thank you.

[dikkydoo1]

i work for rbs and i am getting 500k bonus this year and i dont really do anything so thanks all you stupid slaves, if you see a white lambo cutting you up and then giving you the finger be proud that you contributed to wards it...cheers!

[LeftAndrew]

Great, another right wing scaremongering twit, that's all we need.