Tuesday, 20 January 2009

Tips for Surviving A Recession - No. 3 Quantitative easing

Quantitative easing is a tool of monetary policy. Flooding the financial system with money, eases pressure on the banks by giving them extra capital.

This is not the same as 'turning on the printing press' - at all. Skeptics claim that just printing more money leads to the danger of hyper inflation.

But I am not printing more money - I am coining it. I am drawing on my reserves of gold to mint more Homeward Pennies.

This provides additional employment for the dwarfs of Homeward. The miners are now busy digging beneath Homeward for more gold and the goldsmiths are hard at working smelting the coins.

I have also adopted the economic theory of another famous economist - Milton Friedwarf. Each afternoon I take a ride in my helicopter and drop large amounts of cash out of it for the public to pick up and spend.

I have 'coined' (excuse the pun) a term for this economic action. It is called the "Manna from Heaven Financial Recovery Programme"


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