The Differences Between QE and COVID

In 2008, to bail out the banks, they created a lot of extra money. But what happened was it effectively got trapped in the banking system. The difference there was the entire reason for printing the extra money was to give it directly to people because they were saying you can't go and work. And so if they're doing that, they have to give you money instead. It's how everyone's gone out and tried to spend this money on the same amount of stuff,. Therefore, inflation. This tends not to get mentioned by politicians who you hear a lot about - like we printed a load of money. That's what's caused the problem now.