Date: 2024-06-30 Page is: DBtxt003.php L0900-MBF-Money-supply
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MONEY, BANKING and FINANCE
UK Money Supply | |
| Money Creation in the UK post 2008 | |
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Money Supply ... Life-blood for both Banks and Society
The growth in money supply in order to 'save' the global banking system in the aftermath of the 2008 financial meltdown was been massive ... but is it 'real'? It is only real in the sense that the modern economy is fundamentally very efficient, and people are more productive than at any time in history. This has enabled tremendous growth in productivity, but also a very fragile global socio-enviro-economic system. For many years, modern economies kept a high level of consumption not by paying good wages, but by supplementing worker incomes with a variety of credits. When this Ponzi system crashed in 2008, the banks got into trouble and were rescued by massive lending from Government / Central Banks while ordinary people were ignored. There needs to be an accounting ... but no sign of one yet! | |