Treasures from the threads - Number forty-six

On Japan's resumption of Quantatitive Easing reported here, comes this common sense:

Yesterday 09:52 PM

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QE simply will not work unless it is for the express purpose of massive buying of government bonds for massive income and consumption tax cuts and / or issue of spending vouchers. And politically that now looks virtually impossible until our leaders are not just staring down the abyss but falling through it. I don't think they have sufficient feel, if any, for the downward compounding that multiple negative factors triggering and accelerating each other are about to unleash, not least of which is the fact that they look like rabbits trapped in the headlights.

(Edited by author 9 hours ago)

This may prove of particular historical interest as it is the first mention I have seen in the press of the possible issue of 'spending vouchers', which of course means nothing other than "new money".

In the main body of the article is mention of the earlier ending of the "Great Recession" which is a seriously sick statement given the world economic situation in general and the UK housing market in particular upon which many Britons calculate their well-being.

More on the world economic turmoil from Reuters here, as the markets belatedly realised that everything said at Jackson Hole was gobbledegook, particularly that from Bernanke.