The Ernst & Young Item Club says the U.K. economy is stalling. Not surprising, is
it? Recently, the Bank of England announced a £75 Billion Credit Easing (not
Quantitative Easing) measure.
Some money needs to be swirling in the system, like lubricating oil.
They say, last time QE worked, by the Bank loaning to big businesses who deployed
that capital, and created jobs and enterprise.
Now, they say, the big businesses are cash rich; so they should turn that inert
matter and turn it into real wealth by giving placements and training places to
people, especially youngsters. Big businesses should think of themselves as
benign uncles. By creating work and enterprise, they will enrich the community.
I hope the powers that be are listening...