Where the Bank of England’s going wrong – with Richard Murphy

The Bunker – News without the nonsense

Podmasters

News, Society & Culture, Politics, Government

4.6 • 1K Ratings

🗓️ 8 November 2022

⏱️ 28 minutes

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Summary

Is the Bank of England working in our best interests – and what could it do differently that might serve us better? While the last recession was met with a response of ‘quantitative easing’, the next is due to be met with ‘quantitative tightening’. Richard Murphy, professor of accounting practice at Sheffield University, author of the book Money For Nothing and king of the Twitter macroeconomic mega-thread, talks to Justin Quirk about what the central bank is up to. “Quantitative tightening is the opposite of quantitative easing – this means the government spends into the economy.” “Quantitative tightening really shows that the Bank of England doesn’t care.” “Rishi Sunak doesn’t want there to be a recession, because he won’t win the next election.” “The public don’t know how to ask or answer big questions – and politicians aren’t helping.” www.patreon.com/bunkercast Written and presented by Justin Quirk. Lead Producer: Jacob Jarvis. Producers: Jacob Archbold. Assistant producer: Kasia Tomasiewicz. Audio production by Alex Rees. Music: Kenny Dickinson. Group editor: Andrew Harrison. THE BUNKER is a Podmasters Production. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:55.3	look after theirs with dental life. Pick up dental life in the pet food aisle. Hello and welcome back to the bunker daily I'm Justin Quirk. Almost none of us understand how the modern economy actually works.
1:16.4	Much of the country is shaped and organized around a complicated series of financial instruments,
1:20.6	theories and long-term gambles which bear little relation to what we understand about
1:24.2	finance in our own lives. And it's only when things like quasi-Qua-teng's disastrous mini-budget happen that these elements
1:30.1	come to the fore and we realize just how powerful they are. So just what is
1:34.6	currently happening to the British economy? What is quantitative tightening and
1:38.2	how should we understand the relationship between the government and the Bank of
1:41.6	England? Joining me in the bunker today to answer these questions is Richard Murphy, Professor of
1:46.2	Accounting Practice Sheffield University, author of the book Money for Nothing and King of the
1:50.5	Twitter macroeconomic mega thread.
	...

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