KOO: QE HAS FAILED IN THE U.K. & THE U.S.A. IS ENTERING A SLOWDOWN

"The latest from Richard Koo has two really interesting points.  The first is the fact that QE has failed to boost the UK economy (shocking since its transmission mechanism is non-existent!) and the second is his opinion that the USA is entering a slowdown (not sure what that means precisely since we’ve basically been in one long stall for years).   On UK QE he says:

“Bank of England governor Mervyn King, a supporter of the Cameron government’s fiscal consolidation drive, launched a bold program of quantitative easing in mid-2011 that can be called a British version of the Fed’s QE2. But the easing failed to prevent the recession..."

at http://pragcap.com/koo-qe-has-failed-in-the-u-k-the-u-s-a-is-entering-a-slowdown