QE MAY DELAY THINGS, BUT IT DOESN’T WORK

Philip Lowe RBA

When will central banks stop throwing billions–trillions in the USA–into the debt deflation’s voracious black hole?

It doesn’t seem possible, but it’s actually adults playing this stupid game.

Feeding an infinite debt black hole is quite useless, of course, and crushingly so in a deflation.

Time to face the music, get real, and write off impossible bank debt, guys! The Big 4 are technically insolvent.

Hey, Scomo, Frydo! Get fiscal. Introduce the sorely-needed universal basic income to help pull Australians–not their debt–out of the financial quagmire.