Unworkeable Stimulus, Diminishing Returns and the Flat Yield Curve

Well, well, well, bet this wasn't in The Guardian!

@49m in Dr Lacy Hunt says The Bank of England has just crossed the Rubicon, by advancing to the British Treasury 'half a trillion' dollars, which he says the FED cannot yet do:

https://www.youtube.com/watch?v=kJEvuaHyPlQ

Dr Hunt also mentions the returns on the recent stimulus package for the real economy: for every dollar of stimulus (10T$ and counting...), spending in the real economy (velocity of money) equals: 40c (US); high thirties (Europe); low thirties (China); mid twenties (Japan). He predicts a fall in the US to 25c, down from 40c, with even greater collapses in China & Japan.

Gresham's Law indeed, and collapse it is, then!

"Economics is not accounting"

"You'll force a return to barter..."

Me: that explains the appearance of cart-horses in the fields around here recently...

PS Interview starts at 23m in, and ends at 1h12m. Worth forty minutes of your time.