"Trickle-up quantitative easing" trialled as BoE issues VagaBonds
(5 posts) (3 voices)
Extended: I think this is more an explanation than a witty sub. Can anyone spice it up with a few jokes please?
A radical approach to kick-starting the economy has been suggested by a Bank of England think tank. Previous attempts at quantitative easing have failed because there was no “trickle-down” effect as the money issued was simply hoarded or transferred to off-shore accounts in the name of well known charities. The think tank concluded that a better approach may be to start at the very bottom and encourage a “trickle-up” effect.
In a scheme dubbed VagaBonds, money would be given directly to tramps and rough sleepers. It was expected that they will instantly blow the whole lot on nice hot cups of tea and a warm comfy bed.
Early trials were encouraging as there was no evidence of hoarding the money or buying savings products as none of the recipients had anywhere to put the money other than inside their boots. Expecting a boom in hot beverage retailers and hotel providers the think tank was surprised to find no sudden increase in the share value of Starbucks or Premier Inns. It was noted however that the local off licence owner had just bought a brand new BMW.
Now you've explained it, I think this is a really good idea. Have some stars to encourage further development.
How about the trickle-up being hailed as a huge success, economists establishing that the money has boosted the economy in the retail and publishing sectors after record results for Diamond White and The Big Issue ... Cardboard recycling at an all-time high ... etc, etc
If the money spent on banks had been given to families and nurses could of paid of there morgages so more £ for spends, and the banks would of got the dosh in the end anyway #JustSaying #bankersbonuses #nurses #YOLO
Absolutely Golgo. Cudn't of put it betr meselv #OMG #shesaslag
Anyone want to have a go at making the above funny please feel free. I am sure there is a gag in something trinkling down a tramp's leg or the city feeling no Guilt.
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