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The credit crunch has squeezed lending, house prices are tumbling and building activity is in sharp decline.
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Like previous rounds of quantitative easing, the goals for QE3 included reducing long-term rates, in that way bolstering lending, housing and employment.
They trace their history to the early 1900s when small lending houses sprang up to offer loans to factory workers who otherwise could not get credit.
Rather than calling any of the major lending houses for purchasing golf courses such as Textron's financial arm, GMAC and GE Capital Korean buyers are going where language is not an issue.
But it's not even the interest rates that are most attractive: The debt-service ratio the amount a bank will lend per dollar of the borrower's cash flow is typically around 1.5 at these lending houses, compared with a lower rate offered at Korean banks.
People are out of work; purchasing power falls; businesses cut back; despite low interest rates, banks are reluctant to lend; housing values fall, and the cycle intensifies.
Fresh evidence of a slowdown in the housing market has come in new data showing mortgage lending for house purchases slipped back for the second month running in August.
People are on holiday, so lending and house prices genrally dip.
In contrast to the increased lending for house purchases, the number of remortgage loans declined markedly in May.
Nationwide's figures came 24 hours after Bank of England data showed that mortgage lending for house purchases had slipped back for the second month running in August.
Most importantly, he found a family, the Laysons, to serve as "life models" for the Dollys, lending their house, its contents and its stories.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com