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Cluster index: Nick O’Hear

The beauty of Quantitative Easing.

Nick O’Hear: There is one way of balancing the books. It is the elephant in the room. Nobody talks about it. It is the old method – inflation. Of course, agreements within the European Union forbid this but there is not much alternative. With inflation governments reduce the value of their debts at the expense of the saver. It transfers wealth from the prudent to the profligate and gets the government out of jail. They will blame it on the banks, bank bonuses, climate change and the oil companies, but since all European countries are in the same sort of mess you can bet your bottom dollar that inflation is what we will get!