Thursday, August 9, 2012

Daily Telegraph Going to the Tape

How about something even more radical, I asked him at today’s press conference? Why not, for instance, simply cancel the gilts the Bank of England has bought, thereby substantially reducing the national debt and creating the fiscal space for tax cuts? Or, rather than spending the money on further bond purchases, perhaps he should simply distribute it to consumers to spend – Milton Friedman’s famous suggestion of a helicopter drop?

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