Mervyn King has turned our leaders into zombie puppets | Simon Jenkins

Demand has not risen. Neither has production. Yet we have been duped into thinking that QE will kickstart the economy

It must be the biggest confidence trick of all time. It is a cheat, a scam, a fiddle, a bankers' ramp, a revenge of big money against an ungrateful world. It is called quantitative easing, and nobody has a clue what it means. According to the Bank of England, the past four years have seen £325bn pumped into the British economy to kickstart growth, with another £50bn now on the...