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[LennyMac] boysown

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The difference between our points of view is that of 'intent'. I don't believe that there is anything malfeasant or malicious about what is happening in the UK economy, just that the government has to react to the crisis in the best way it thinks it can. All of the methods pointed out in the article are well known and understood as tools for manipulating aspects of the economy. Fiscal drag (also known as bracket creep) and holding down the real value of wages are commonly used means of increasing revenues and productivity. QE is used simply because the govt doesn't have the ability to manipulate interest rates as it normally would (because they are close to zero). Unfortunately for savers, they are bearing some of the burden, but in any economic process, someone always suffers more than others (and as the writer points out, savers are the only ones with any cash). I guess these methods are pretty stealthy but they are very common andt their sinister nature is more in the mind of the writer from whom you borrowed the article that in those of the present governmment.

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