UK Itching for More QE

Saturday, August 22, 2009 , , , 0 Comments

And you thought our people were out of their fucking minds?

Via Bank Run Watch:

UK debt rises to £799 billion or £13,000 per person

If you were hoping that Britain’s financial situation was getting better, you’re about to be sorely disappointed. Official figures have shown that UK debt has now reached a record £798.8 billion – equivalent to 56.6% of gross domestic product (GDP).

David Kern, Chief Economist at the British Chambers of Commerce (BCC) said“Although slightly smaller than feared, these figures confirm the grim state of our public finances"

“We believe that the risks of a relapse in economic activity are still serious,” he said. “With bank lending remaining weak and unemployment continuing to rise, there is still an urgent need to reinforce the stimulus. We urge the MPC to increase the QE programme at its next meeting"
Maybe we aren't so insane after all, look at the UK.

Awww, I was just a baby when they started their QE. And now they're going to need more?

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.