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It's a helicopter money. Would it work better than QE? Well, Chairman Bernanke has dedicated

his whole academic career in discussing that. In reality, if you're a central bank

and you want to find ways of signaling that you're going to raise inflation and

guide inflation expectations higher, there are several avenues and the more dovish you come across, the

more reckless you want, you come across, in theory that has a bigger impact on inflation expectations.

In many ways, what we have seen over the last couple of years is Central Banks not doing enough

to stimulate inflation expectations.

I mean, not doing enough.

I'm not sure what they can do.

If you think about it about it's been seven years

we're near zero almost every major economy they've done so much and that's not

forcing politicians to do more well think of of Japan, the prime example, right?

2015 has been a year of major fiscal consolidation rather than fiscal expansion.

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