The country’s new prime minister, Andy Burnham, has promised a break from the politics of the last 40 years—realizing more broadly that Labour must stand up for the 99% against big business, or the party will become irrelevant.
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Collateral Damage: QE3 and the Shadow Banking System
Rather than expanding the money supply, quantitative easing has actually caused it to shrink by sucking up the collateral needed by the shadow banking system to create credit.
