Today\’s Ritchie

There\’s something close to fascistic about some of his ideas:

Let’s get over this fetish with rating agencies: the reality is the markets will provide the cash and if they don’t we’ll require that bankers do so by lending money to the government through Treasury Deposits.

Forced loans now….

5 comments on “Today\’s Ritchie

  1. ‘Close’ to fascistic? The man worships the State. He elevates its notional good above any pettifogging idea of sovereign entities pursuing their own rational self-interest. He wants it to be the first amd final arbiter of how businesses and we as individuals order the minutiae of our existence. That’s not close to fascism. It is fascism.

  2. Not surprising really. Old Mussolini himself left the Italian Socialists and founded the Fascist party because he didn’t think they they were Socialist enough. His motto was: “Everything within the State, nothing outside the State”.
    Oswald Moseley left the Labour Party to found the BUF because he didn’t think Labour were doing enough for British workers, or ” Hard working British families “, as his modern counterparts might put it.

  3. And if you try and put a reasoned argument or an opinion he doesn’t like on his blog…it doesn’t make it past the censor!

  4. Notice that any time Ritchie can’t think hard enough to come up with a realistic incentive to get what he wants out of people (which is near all the time), he falls back on compulsion.

    He isn’t so much a facist as a moron.

  5. There are some wonderful precedents for this kind of action – Argentina’s seizing private pensions last year and forcing them to have a portion invested in Gov’t debt (50% if remember rightly). Oddly enough, even though I did not see it at the time, there were articles like this one in the Telegraph saying that it was only a matter of time before G7 countries hit by ever decreasing tax revenues would try something similar.

    http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/5504137/Argentina_seizes_pension_funds_to_pay_debts_Whos_next/

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