Lack Of Interest In Finance Markets

Bets in the City / Editor / 04 December 2008 / Leave a comment

The European Central Bank has cut its rate by 0.75%, Sweden by 1.75% and the UK by 1%, as central banks around the world follow Ben Bernanke's lead in heading for zero interest rates.

Anorakians may be wondering what else our great leaders can do to dig us out of the biggest hole in a century or so, once interest rates hit ground zero.

There's no need to worry; the high-tech approach is to print lots of money and drop it by helicopter, but there are other options.

Keynes recommended burying large amounts of the stuff in disused mine shafts, and then allowing entrepreneurs, operating under the tried and tested principles of strict laisser faire economics, to dig it up again.

We are a bit short of helicopters, due to some little local difficulties in Iraq and Afghanistan, but, thanks to Mrs Thatcher, we've got lots of disused mineshafts.

Problem solved; we are all Keynesians now...