Europe Swings Right As Depression Deepens
"We need to be bold and print £50,000 for each household, not a few hundred, for the banks, thats then sterilised in reserve requirements."
Get stuffed. We need to let prices fall to levels where savers are happy to buy them off the idiots who overpaid. The talk of reflation is keeping said idiots from selling at realistic prices and taking the losses they so rightly deserve. If we inflate our way out of this, it will teach everyone to buy into the next moronic bubble as soon as possible, and the very concept of doing work in exchange for gaining purchasing power will be destroyed. Instead, the lesson will be, "Fastest speculator wins, and work is for mugs".
It cannot be said enough: the recession IS the cure. Government attempts at reflation prevent the correction from happening.