Does any central banker seriously believe that ‘quantitative easing’ will produce spending and recovery? Or do they know the obvious – that QE makes the rich richer?
Economists profess that if a 100 people, with a thousand dollars between them, want a cup of tea, and tea is on offer at one dollar per cup, everyone will probably buy a cup of tea.
They refuse to discuss the obvious fact that if one person has all the thousand dollars and everyone else is broke, only one cup of tea will be sold.
Are economists stupid? Disingenuous? Or do they merely serve those who get the money – that is, governments, capitalists and banks?
There are liars, there are hypocrites, and then there are economists….