Given Britain’s huge private debt, coordination between monetary and fiscal authorities is essential if the UK is to avoid decades of stagnation – or, worse, an Irving Fisher-style debt-deflationary spiral.
So your first task, I suggest, is to persuade the chancellor that financial stability depends on this coordination.PRIME
Dear Mr Carney: Memo to the new Bank of England governor
Ann Pettifor
2 comments:
Yep. The counterfeiting cartel has driven the country into onerous debt and now the fiscal authorities must provide the means to pay it off.
I suggest a universal bailout ala Steve Keen but with new fiat spent into existence without borrowing.
"So your first task, I suggest, is to persuade the chancellor that financial stability depends on this coordination."
Failing that, if he could just be kept away from the office with an endless supply of hookers and blow...
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