Quote Originally Posted by Mike T View Post
No need to borrow, just print it - this is how we buy houses - the money is created by the bank/building society - it does not come from the savings of the bank's customers - as long as inflation does not "ramp up' - I hate that expression - it is not an issue.
So banks and building societies just print the money to loan out do they? One wonders then why there was a Financial crisis at all in 2007/2008. All Northern Rock etc. had to do was turn on the printing presses. Job done.

Similarly with the Government. No need for taxes at all, we can just print the money and spend whatever we like. Well that might work in the fantasy world of the Guardian. Meanwhile on planet earth, that will just produce hyperinflation.