Sunday , December 16 2018
Home / Ann Pettifor: Debtonation / What Is Wrong with the Bank of England’s Decision Today?

What Is Wrong with the Bank of England’s Decision Today?

Summary:
The BoE’s decision to raise the Bank Rate to 0.75% is a mistake. It is a mistake comparable to those made by Alan Greenspan’s Federal Reserve in the years between 2003 and 2006.  It is a mistake that must be understood in a wider context. Not just the political context – which promotes ‘monetary radicalism and fiscal conservatism’ – to quote David Cameron and George Osborne. But also in a wider monetary policy context.  As the governor of the Bank pointed out recently: ‘the Bank is the only game in town’ … Read the full article on the PEF website  Related Posts

Topics:
Ann Pettifor considers the following as important: , , , , , ,

This could be interesting, too:

run75441 writes The High Cost of End-of-Life Healthcare – Myth?

Barkley Rosser writes On, Wisconsin?

Dan Crawford writes Employment by community size

run75441 writes Michigan’s Lame Duck Republican Legislature

The BoE’s decision to raise the Bank Rate to 0.75% is a mistake. It is a mistake comparable to those made by Alan Greenspan’s Federal Reserve in the years between 2003 and 2006. 

It is a mistake that must be understood in a wider context. Not just the political context – which promotes ‘monetary radicalism and fiscal conservatism’ – to quote David Cameron and George Osborne. But also in a wider monetary policy context. 

As the governor of the Bank pointed out recently: ‘the Bank is the only game in town’ …

Read the full article on the PEF website 

Ann Pettifor
I’m Ann Pettifor, author and analyst of the global financial system, and co-author of The Green New Deal (2008). I predicted an Anglo-American debt-deflationary crisis back in 2003, and in September, 2006 published The Coming First World Debt Crisis (Palgrave). I am known for my work on the sovereign debts of low income countries and for leading an international movement for the cancellation of debts, Jubilee 2000.

Leave a Reply

Your email address will not be published. Required fields are marked *