After using QE to inflate the price of dubious assets which have no direct positive impact on people’s ‘bread and butter’ lived experience, it is time to use this controversial tool to address concrete societal issues.
Our schools are short of funds, NHS is lacking in critical resources, and the care for elderly and vulnerable has been cut drastically to the point of ineffectiveness. We must compel our institutions – Bank of England, Westminster Parliament etc. to use the same tools used to rescue our rascally bankers to do some social good. If the government must print money, let this money go to our social services, not fat-cat bankers and their privileged business friends.
QE so far has only benefitted the sponging rich at the expense of the poor dispossessed. Leading to widening inequality and social tension - populism.
The time to start turning this around is now!