Quantitative easing for the people (QEP)
We’ve had £375bn of Quantitative Easing so far, which may have saved the financial sector but has done very little for the rest of us. According to the Bank of England, 40% of the gains from QE since 2009 have gone to the richest 5% of households. "QE is a policy designed by the rich for the rich," says Nigel Wilson, the chief executive of Legal & General.
Or we can go with Quantitative Easing for the People (QEP)
Quantitative easing of £375bn amounts to approx. £6k per man, woman & child in the UK. So why not add this to the bank accounts of every member of the public? Why not give the QE money directly to ordinary people to spend, save or pay off their debts? Wouldn't it be better to inject new money into the real economy, rather than the City of London?
(thanks to Huff Post UK: http://huff.to/1cDKcfx)
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