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Petition to stop QE
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Sara G
Posted: 17 August 2016 13:37:03(UTC)
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Anyone concerned by the experiments being conducted by various central banks, including the BoE may be interested in this petition, started by Tim Price - a bearish commentator for Money Week:

https://petition.parliament.uk/petitions/164630

Disclosure: I haven't decided yet whether to sign it myself. Limiting the mandate of the BoE may lead to a whole different set of problems down the line. But I do believe that interest rates that are too low and the continued flow of cheap money are not healthy for the future prospects of the economy.

Of course nothing is likely to change as a result of signing this, or any similar petition, but it may at least force a response from the government.
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Jeff Liddiard on 17/08/2016(UTC), Raj K on 17/08/2016(UTC)
King Lodos
Posted: 17 August 2016 14:05:36(UTC)
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I think the problem is it's very easy to criticise monetary policy, but I'm sure governments and central banks would be thrilled to hear any sensible alternatives ... Without any, it just seems like a lot of hot air

Also we have to remember, in real terms, rates aren't particularly low ... They reached almost -20% in the 70s
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Sara G on 17/08/2016(UTC)
Alan Selwood
Posted: 17 August 2016 15:01:33(UTC)
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QE seems to have been a failed experiment so far, though it might have been worse without it.

Short of illegal action against all the policy-makers, I don't see how anything will change while QE lets them put off the day of reckoning yet again.

And yes, anyone with a better answer will deserve to get a knighthood.........!
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Sara G on 17/08/2016(UTC), c brown on 17/08/2016(UTC)
Micawber
Posted: 17 August 2016 15:01:40(UTC)
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Publicity stunt. Subscribing to Moneyweek is an investment cost, remember?...!

Remember they predicted The End Of Britain? Successful PR title, got a lot of people worried, Britain's still here....
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srg751 on 19/08/2016(UTC), Sinic on 20/08/2016(UTC)
Micawber
Posted: 17 August 2016 15:04:01(UTC)
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Alan Selwood;36473 wrote:
QE seems to have been a failed experiment so far, though it might have been worse without it.



Yes indeed it might. QE is ingenious, and invented in Britain.
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King Lodos
Posted: 17 August 2016 15:14:22(UTC)
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I think it's worked well for the US

In that we avoided a repeat of the Great Recession, and just a few years later the US economy looks fairly sturdy

I've always wondered whether European or Asian QE would have the same effect, especially when things are moving in the opposite direction to the US ... I suppose the mistake was Europe not starting stimulus earlier
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Sara G
Posted: 17 August 2016 18:15:43(UTC)
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Micawber;36474 wrote:
Publicity stunt. Subscribing to Moneyweek is an investment cost, remember?...!....


I think of it more as an entertainment cost - although really it is cost neutral as I gave up reading Vogue to pay for it ;)
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c brown on 17/08/2016(UTC)
andy
Posted: 18 August 2016 21:06:59(UTC)
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Joined: 11/03/2010(UTC)
Posts: 534
I remember giving up my TV licence to pay for my gum membership when I divorced - lasted a decade - still don't have a TV - really ought to get back in the gym again.

Maybe can find some entertaining finance things now I have given up listening to the news on the radio until I get over the anger over Brexit - no thats not a request to be baited on that one thank you - although I am not complaining about the profits taken ;)
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Tom Mozy
Posted: 19 August 2016 11:18:51(UTC)
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Joined: 09/07/2013(UTC)
Posts: 424
GOLD STANDARD!

The only monetary system that works, all others are become corrupted.

Fiat enriches those that control and get first use of the money.

Main street gets stuffed.

SIGN THAT PETITION

Create one to close the BOE as well!

Central banking is a blot on human societies escutcheon
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S_M
Posted: 19 August 2016 12:40:06(UTC)
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Joined: 17/03/2011(UTC)
Posts: 787
QE inflates assets. The most dangerous in the UK being residential property. I can't think of any other developed economy where it's population obsesses about property.

That combined with limited supply creates a pretty nasty backdrop when the bubble does burst.

QE's side effect, as is quite often mentioned by economists like putting the economy on steroids.
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