{"id":4700,"date":"2015-01-21T06:52:12","date_gmt":"2015-01-21T11:52:12","guid":{"rendered":"http:\/\/olduvai.ca\/?p=4700"},"modified":"2015-01-21T06:52:12","modified_gmt":"2015-01-21T11:52:12","slug":"even-central-bankers-now-admit-qe-doesnt-work","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=4700","title":{"rendered":"Even Central Bankers Now Admit QE Doesn\u2019t Work"},"content":{"rendered":"<h3 class=\"entry-title\"><a href=\"http:\/\/www.washingtonsblog.com\/2015\/01\/even-central-bank-gurus-now-say-qe-doesnt-work.html\" target=\"_blank\">Even Central Bankers Now Admit QE Doesn\u2019t Work<\/a><\/h3>\n<h3>Even As European Central Bank Is Set to Unleash a Massive Round of Quantitative Easing, Central Bank Heads Admit QE Doesn\u2019t Work<\/h3>\n<p>The former head of the Bank of England \u2013 Mervyn King \u2013 said today that more QE will\u00a0<a title=\"not help the economy\" href=\"http:\/\/www.telegraph.co.uk\/finance\/economics\/11356492\/More-QE-will-not-help-the-world-says-Mervyn-King.html\" target=\"_blank\"><em>not<\/em>\u00a0help the economy<\/a>:<\/p>\n<div class=\"fourthPar\">\n<blockquote><p>We have had the biggest monetary stimulus that the world must have ever seen, and we still have not solved the problem of weak demand. The idea that monetary stimulus after six years \u2026 is the answer doesn\u2019t seem (right) to me.<\/p><\/blockquote>\n<\/div>\n<p>Also today, William White \u2013 the\u00a0<a title=\"brilliant economist who called the 2008 crisis well ahead of time\" href=\"http:\/\/www.spiegel.de\/international\/business\/the-man-nobody-wanted-to-hear-global-banking-economist-warned-of-coming-crisis-a-635051.html\" target=\"_blank\">brilliant economist who called the 2008 crisis well ahead of time<\/a>, who is head of the OECD\u2019s Review Committee and former chief economist for BIS (the central banks\u2019 central bank)\u00a0\u00a0<a title=\"slammed\" href=\"http:\/\/www.telegraph.co.uk\/finance\/economics\/11358316\/Central-bank-prophet-fears-QE-warfare-pushing-world-financial-system-out-of-control.html\" target=\"_blank\">slammed<\/a>\u00a0QE:<\/p>\n<blockquote><p>QE is not going to help at all. Europe has far greater reliance than the US on small and medium-sized companies (SMEs) and they get their money from banks, not from the bond market.<\/p>\n<p>***<\/p>\n<p>Even after the stress tests the banks are still in \u2018hunkering down mode\u2019. They are not lending to small firms for a variety of reasons. The interest rate differential is still going up.<\/p>\n<p>***<\/p><\/blockquote>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Even Central Bankers Now Admit QE Doesn\u2019t Work Even As European Central Bank Is Set to Unleash a Massive Round of Quantitative Easing, Central Bank Heads Admit QE Doesn\u2019t Work The former head of the Bank of England \u2013 Mervyn King \u2013 said today that more QE will\u00a0not\u00a0help the economy: We have had the biggest [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[124,246,431,535,661,662],"class_list":["post-4700","post","type-post","status-publish","format-standard","hentry","category-economics","tag-central-banks","tag-economy","tag-interest-rates","tag-monetary-stimulus","tag-qe","tag-quantitative-easing"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4700","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4700"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4700\/revisions"}],"predecessor-version":[{"id":4701,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4700\/revisions\/4701"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4700"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4700"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4700"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}