Aug 29, 2022 16:43
2 yrs ago
32 viewers *
English term
more of it
English
Bus/Financial
Economics
Hello everyone,
In the BBC documentary The Decade the Rich Won three different people appear on the screen and talk.
Will Tanner: The way in which quantitative easing decisions are made is they’re made independently by the Bank of England err with formal oversight from the treasury. When the bank made that decision to extend QE that wasn’t a decision that Number 10 was directly involved with. What we thought was when the bank is making those decisions it needs to take much greater account of the distributional effects of those decisions and judge those trade offs perhaps a bit differently.
Mervyn King: The problem is that people have regarded now central banks as being the only game in town so that whenever there’s bad news then they have to ***do more of it***, that was a terrible mistake because there were lots of other policies that might’ve helped improve economic growth and so people tended to think we’ll just leave it to central banks.
Gary Stevenson: The massive thing to understand is that simply printing money is not anywhere close to as effective as economists thought it was gonna be. It’s a very very weak tool.
Is it possible to tell from the above context what is meant by "it" in "more of it"?
The QE? (Printing) money? Anything else?
Thank you.
In the BBC documentary The Decade the Rich Won three different people appear on the screen and talk.
Will Tanner: The way in which quantitative easing decisions are made is they’re made independently by the Bank of England err with formal oversight from the treasury. When the bank made that decision to extend QE that wasn’t a decision that Number 10 was directly involved with. What we thought was when the bank is making those decisions it needs to take much greater account of the distributional effects of those decisions and judge those trade offs perhaps a bit differently.
Mervyn King: The problem is that people have regarded now central banks as being the only game in town so that whenever there’s bad news then they have to ***do more of it***, that was a terrible mistake because there were lots of other policies that might’ve helped improve economic growth and so people tended to think we’ll just leave it to central banks.
Gary Stevenson: The massive thing to understand is that simply printing money is not anywhere close to as effective as economists thought it was gonna be. It’s a very very weak tool.
Is it possible to tell from the above context what is meant by "it" in "more of it"?
The QE? (Printing) money? Anything else?
Thank you.
Responses
+2
2 hrs
Selected
more QE (quantitative easing)
"printing money" is one way of quantitative easing. Central Banks can buy bonds held by the public as a way to do quantitative easing. Central Banks can lower their interest rates, thus encouraging more borrowing. These actions all cause money to "flow" into the economy.
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Note added at 4 hrs (2022-08-29 20:47:11 GMT)
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... whenever there’s bad news then they have to do more of it, ...
In the above, "bad news" means bad news for the economy, like slow growth or recessions. "they" means central banks. "do more of it" means do more quantitative easing to stimulate the economy back into healthy growth.
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Note added at 4 hrs (2022-08-29 20:47:11 GMT)
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... whenever there’s bad news then they have to do more of it, ...
In the above, "bad news" means bad news for the economy, like slow growth or recessions. "they" means central banks. "do more of it" means do more quantitative easing to stimulate the economy back into healthy growth.
4 KudoZ points awarded for this answer.
Comment: "Many thanks to everyone.
Thank you, Kiet."
1 hr
... then the Central Banks have to outdo themselves...
... to explain what is going on
2 hrs
Luciana Yury Mino
Brazil
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decisions and their distributional effects
I think that either extending QE or printing money are decisions that should be considered in a different perspective, so, "to do more of it" would be to keep taking decisions that will not help to achieve economic growth.
18 hrs
Yvonne Gallagher
Ireland
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right word, right place. everytime
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Works in: French to English, Spanish to English, English, and 1 more.
Related KudoZ points
:
12
more of whatever might work
"The problem is that people have regarded now central banks as being the only game in town so that whenever there’s bad news then they have to ***do more of it***,"
The major problem with this comment is that while Mervyn King is probably referring back to the previous remark about QE he is ALSO saying what the "people" want the central bank (government =No.10/Treasury) and that is
"to do more to offset whatever problems there are in the economy"
So "do more of it"= Do whatever is necessary to lessen the economic problems so that we "the people" can get back to normal.
Most "people" wouldn't have a clue about the measures needed and certainly wouldn't understand QE so it would be wrong to say that's what people are saying or want! The "people" really don't care what is done as long as "it" eases pressures.
These experts are apparently speaking off the cuff here as well so not a considered response.
so "it"= something, anything that might work
https://www.bankofengland.co.uk/monetary-policy/quantitative...
The major problem with this comment is that while Mervyn King is probably referring back to the previous remark about QE he is ALSO saying what the "people" want the central bank (government =No.10/Treasury) and that is
"to do more to offset whatever problems there are in the economy"
So "do more of it"= Do whatever is necessary to lessen the economic problems so that we "the people" can get back to normal.
Most "people" wouldn't have a clue about the measures needed and certainly wouldn't understand QE so it would be wrong to say that's what people are saying or want! The "people" really don't care what is done as long as "it" eases pressures.
These experts are apparently speaking off the cuff here as well so not a considered response.
so "it"= something, anything that might work
https://www.bankofengland.co.uk/monetary-policy/quantitative...
5 days
attoubata01
Morocco
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Morocco
Proofreader
Native in: English 
Works in: French to English, Arabic to English, English to French, and 6 more.
A simplified explanation of "More of it"
"more"
in addition to an amount or number.
"Of"
is a preposition.
Of commonly introduces prepositional phrases which are complements of nouns, creating the pattern: noun + of + noun. This pattern is very common, especially to indicate different parts, pieces, amounts and groups,
"It"
We commonly use the pronoun it as both a subject and an object pronoun:
Don’t drink the milk. It smells terrible.
Has anyone seen my phone? I can’t find it anywhere.
We often use it in question tags:
That furniture is lovely. It isn’t too expensive for us, is it?
You know the flat with three bedrooms by the supermarket? It’s the best one we’ve seen so far, isn’t it?
"more of it"
Say it when you want more than something
in addition to an amount or number.
"Of"
is a preposition.
Of commonly introduces prepositional phrases which are complements of nouns, creating the pattern: noun + of + noun. This pattern is very common, especially to indicate different parts, pieces, amounts and groups,
"It"
We commonly use the pronoun it as both a subject and an object pronoun:
Don’t drink the milk. It smells terrible.
Has anyone seen my phone? I can’t find it anywhere.
We often use it in question tags:
That furniture is lovely. It isn’t too expensive for us, is it?
You know the flat with three bedrooms by the supermarket? It’s the best one we’ve seen so far, isn’t it?
"more of it"
Say it when you want more than something
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