Published on LEFT outside, by blog owner, December 4, 2011.
… For the purposes of this post I going to assume that Duncan didn’t really mean AAA rating because it is a informationless designation created by corrupt and incompetent rating agencies. However, it is useful short hand for our borrowing costs increasing and investors thinking UK debt is unsafe so I understand using it as a proxy.
The Eurozone is a mess, the US is still not adding jobs quickly enough to lift its employment to population ratio and Japan is Japan. The US, Japan, Italy, Germany and France all have debts of over a trillion dollars outstanding. The UK’s total debt is just under a trillion dollars [src, some figures a little out of date, all close enough] … (full text).
Why we should support QE in language an undergrad student can understand: Printing £75bn does not sound like a plan to make us all richer. It sounds like a plan to turn us into Zimbabwe …