All he has to do is get the bank of England to print off loads of £50 notes, this will cost next to nothing. Then give each household say, £100,000 each, we can then pay off our debts and start buying stuff and put the money back into circulation and bob’s your uncle, recession over.
It ain’t rocket science darling.
September 30th, 2009 at 3:28 pm
Because the British pound would be worth nothing.
To truly kick start the economy the bailouts that the banks have been receiving should have been lent straight back to people that wish to purchase a house.
September 30th, 2009 at 3:28 pm
That’s £6 trillion added to the money supply. The resulting inflation would mean that your £100,000 would be worth about a fiver – and keep falling. There’d be riots as people found their money and savings were worthless. All the banks would go broke and this time the government would be unable to save them. We’d be unable to import anything, so no food and definitely no electrical goods. Millions would starve.
Your obvious solution would suddenly reduce us to a peasant economy. That’s why democracy is such a bad idea for the cerebrally challenged.
September 30th, 2009 at 3:28 pm
Finance doesn’t work that way. If he did that the value of the money would drastically reduce – it wouldn’t really be worth the paper it’s printed on.
September 30th, 2009 at 3:28 pm
I knew you were going to say this even before I opened up lol.
It will make everything worse.http://en.wikipedia.org/wiki/Hyper_infla…
September 30th, 2009 at 3:28 pm
Have you ever heard of the Viemar Republic? They did just what you suggested. It caused hyperinflation.
September 30th, 2009 at 3:28 pm
I think Robert Mugabe tried something similar – only he didn’t share the wealth!
September 30th, 2009 at 3:28 pm
You really are blonde aren’t you??!
September 30th, 2009 at 3:28 pm
LOL, that’s funny.