At Least We're Not England

Drunk English Woman

As the U.S. fed begins to wind down its bond market support, England is still going strong.

The Bank of England (BOE) is set to expand its bond buying by 50 billion pounds in an effort to keep their financial system from collapsing.

Britain is still in recession despite a GDP recovery in many nations such as the U.S..

Bloomberg: Any increase in the Bank of England’s emergency program would be the third since King unveiled the plan in March. Brown’s first bank bailout, the government’s fiscal stimulus measures and an injection of 175 billion pounds in newly printed central-bank money have so far failed to end Britain’s longest recession on record.

“They’ve got to throw money at it,” said Neil Mackinnon, an economist at VTB Capital Plc and a former U.K. Treasury official. “The fact of the matter is that the U.K. economy is lagging behind. As to whether quantitative easing is working, the jury is still out.”

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