I agree with mg. His/her four points are a cut to the quick.
Central banks in the UK and US are actually currently in a process of re inflating their economies through the process of QE. The problem is it’s not working. Banks, companies and institutions are hoarding cash instead of increasing the money supply. Lenders are now risk averse causing economies to stagnate. There is a strong fear factor causing am economic log jam.
Things cannot continue as they are without further massive damage to western economies.