No argument I can muster could do better in exposing central banks in general and the Bank of England in particular as the enemy of capitalism than the words of Charlie Bean, deputy governor of the cankerous Whore, exhorting us all to spend, spend, spend.
Mr Bean said he 'fully sympathised' with the plight of older people who depended on their savings, had enjoyed high interest rates in the past and had seen huge rises in property values. But he added: 'We want to see households not saving more, but spending more'. Dramatic cuts in interest rates since the start of the recession are believed to have put an extra £8 billion a year in consumers' pockets. But the Bank is worried this is being use to pay off debt and build up savings rather than for spending on the high street.
4 comments:
He's the militant wing of Home-Owner-Ism - sod the savers, let's keep the house price bubble going.
Oh dear - the high taxes we imposed to subsidise the banks and hence house prices are stifling the economy, thus pulling the rug from under house prices.
Not to worry - tell the sheeple to keep spending, until nobody has got any money left apart from the banks, and the large landowners will ride out the storm just like they have been doing since 1066 - all they need is a bit of planning permission and that's the next few million in the bank.
Heh - what can you expect when Mr. Bean is running the banks?
What's in a name? A turd by any other name would smell as rank. (from the original Romeo and Juliet before Shakespeare's editor had a quiet word).
It isn't just bankers who think like this.
Our Labour led council advised the people of my city that he knew that there was app.£600m pounds in our bank accounts and that it was our duty to help our city by spending it in the city centre.
They really do believe that they own our money.
Anon,
that is no surprise. As I point out in the post, central banks are state-run, centrally-planned monopolies, in other words SOCIALISTIC in economic terms.
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