Finally admission that adding money does nothing to reduce debt

UK, last 20 years. Bankers freed from regulation shower politicians with money and jobs after politics. Politicians continue to deregulate the financial markets. The financial markets run wild and start heaping debt on to debt of ever more spurious pedigree. No one is worried because everyone is making money.

Suddenly the whole thing explodes. The bankers are now in a position to ask for favours under threat of devastating the economy. 1 trillion of favours. The Bank of England reduces rates and starts pumping in money to keep up the bond prices. Woe betide us if they ever fell.

Finally, only in the last few days have articles appeared that state that Governments are helpless and that with no more to  borrow they can do nothing if the developed economies slip into recession again. Where are the bankers now? The bankers are on their boats mate!

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