{"id":19339,"date":"2013-02-25T09:25:41","date_gmt":"2013-02-25T09:25:41","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=19339"},"modified":"2013-02-25T09:25:41","modified_gmt":"2013-02-25T09:25:41","slug":"we-need-qe-but-we-need-the-right-form-of-qe-too-thats-the-one-that-would-create-jobs-and-social-housing","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2013\/02\/25\/we-need-qe-but-we-need-the-right-form-of-qe-too-thats-the-one-that-would-create-jobs-and-social-housing\/","title":{"rendered":"We need QE, but we need the right form of QE too. That’s the one that would create jobs and social housing"},"content":{"rendered":"

Larry Elliott argues this morning<\/a>:<\/p>\n

Financial markets have become stimulus junkies. They crave their next fix of\u00a0quantitative easing\u00a0and when they don't get it they turn ugly.<\/p><\/blockquote>\n

He's right,\u00a0although\u00a0I'm not\u00a0sure\u00a0 he's right for the right reasons.<\/p>\n

The world's markets need QE because banks aren't creating enough new money by lending<\/a>. That's because, small businesses who get the\u00a0cold\u00a0shoulder when the ask apart, people don't want their money. So QE has to create the money the economy needs to stay liquid instead. The happy coincidence is that this pays off the debt the\u00a0government\u00a0owes at the same time<\/a>, even if that fact is still only very reluctantly\u00a0acknowledged.<\/p>\n

The problem is, as Larry\u00a0acknowledges, that the money injected is going to financial institutions and ending up being used for\u00a0speculation.<\/p>\n

There is an answer to that too: it is called Green Quantitative Easing<\/a>. That would inject money into the real economy instead to insulate millions of properties that aren't, to repair\u00a0infrastructure\u00a0and extend its life, to build new social housing we desperately need and so, of course, to create jobs.<\/p>\n

We could do that. The question is, why don't we?<\/p>\n","protected":false},"excerpt":{"rendered":"

Larry Elliott argues this morning: Financial markets have become stimulus junkies. They crave their next fix of\u00a0quantitative easing\u00a0and when they don’t get it they turn
 Read the full article…<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,74],"tags":[],"class_list":["post-19339","post","type-post","status-publish","format-standard","hentry","category-economics","category-green-new-deal"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/19339","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=19339"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/19339\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=19339"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=19339"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=19339"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}