Quantitative easing: not actually evil

Back in 2009, when the Bank of England first started its quantitative easing programme, Vince Cable denounced it as “Mugabe economics”. George Osborne said it was “the last resort of desperate governments”, adding that “in the end printing money risks losing control of inflation and all the economic problems that high inflation bring”. Quantitative easing, it was implied, would devastate the country. All this free cash #printing money, everyone called it, as though you could still hear the presses rumbling on Threadneedle Street# would set off astonishing inflation; soon we’d be using £5 notes as cigarette papers.

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