Colwyn, we can go round the houses on this subject. I think the world has reached a stage where it appears to be struggling to find a solution. I do not think that you and me have the answer. The big problem is that all current economic thinking is not getting us out of the situation. We have tried the spend your way out and it has not worked. We have tried the use of interest rates to stimulate growth and it has not worked.There is no more scope in using interest rates.We are using QE but that has in one hand some benefits in that we may generate growth but the flip side is that inflation will go up.
We have had recessions before and they have never been anything like this. The real comparison that can be made is to the depression in the 30s and look where that led us. Germany eldected a madman who promised heaven and we had a world war.
Colwyn so I am getting off the roundabout as I am getting dizzy from going round in circles.I am going to leave those that are paid to run the economy to sort it out.
I do enjoy a bit of banter with you.