Richard Murphy says:
September 29 2016 at 3:36 am
I have a feeling you may need to enhance your understanding: if there is a prospect of perpetual deficit then cash in the bank merely delays default but means continuing is reckless because of the indifference it would show to long term liabilities – and Jersey has ample of them
Jersey is going bust because of a deficit they never close.
The UK should run a permanent deficit because a surplus would be a near criminal idea.
Amazing how the same ideas can repose in the same brain really.
He’s in his Flash Gordon scorpion stump again…
“Do I contradict myself? Very well, then I contradict myself, I am large, I contain multitudes.”
Walt Whitman
Keeping on the SciFi theme,
“My name is Legion, for I am many”
/red dwarf
Surely the time has come to section him
Over generous use of the word brain here.
Use an argument, discard it when no longer useful for the moment, believe it again later when it becomes useful again.
He is a textbook case of Doublethink.
Doesn’t Jersey have reserves equivalent to eight years of income, though? That should keep them afloat for long enough to sort things out – unless it gets treated like the Scott Trust.
Jgh, did you forget the bit when Murph stated that a country could never be insolvent?
I think the time has come to cross-section him, with a bandsaw.