The Cobden Centre’s Jamie Whyte appeared on BBC Radio 4 yesterday morning to discuss the prospect of further quantitative easing in the US and UK.
In my view, three key points came across:
- the economic situation was different in 2008 (only a serious monetary crisis can justify monetary stabilisation);
- central bank interventions get in the way of market discovery processes;
- previously injected money has been hoarded, so it hasn’t had the desired effects on broad money (central bankers are “pushing on the end of a piece of string”)
If you weren’t up at 6:20 to hear the original broadcast, you can catch it on iPlayer until next Thursday, 11 August, at 9:02 AM.