Britain’s coming debt crisis

Disturbing news, at www.howestreet.com/articles/index.php?article_id=12227. The foolish strategy of relying on buying and selling gilts to print money, rather than printing it directly into people’s hands and into a Green New Deal, is it seems coming home to roost. [ The second graph can also be found, in a slightly different form, at http://ftalphaville.ft.com/blog/2010/01/27/135551/could-uk-money-supply-collapse-post-qe/ ]
[For the philosophical background, cf. my ECO-POLITICS article, “Towards a green philosophy of money”.]

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