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
Yep. The counterfeiting cartel has driven the country into onerous debt and now the fiscal authorities must provide the means to pay it off.
ReplyDeleteI 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."
ReplyDeleteFailing that, if he could just be kept away from the office with an endless supply of hookers and blow...