Thank you Simon, we\’ll have that knighthood back now…..

What seventh circle of lunacy is this?

Simon Jenkins seems to think that the car scrappage scheme was a good idea. No, it was a destruction of wealth. To give you an idea of his level of economic analysis:

America\’s \”cash for clunkers\” consumed $3bn and is reckoned to have rescued Ford, Chrysler and General Motors from what had been near-bankruptcy in March.

He\’s entirely failed to note that 1) Cash for Clunkers started in August and 2) both Chrysler and GM did indeed go bankrupt before it started.

So how does one start a petition to have an honour rescinded?

4 thoughts on “Thank you Simon, we\’ll have that knighthood back now…..”

  1. The three things cash for clunkers actually accomplished are as follows:

    1) waste $3 billion,
    2) demonstrate that the federal government could fuck up a cash for clunkers program, and 3) depress auto sales for months after the end of the cash for clunkers program.

    All told, it was a smashing success.

    In the meantime, Fiat has crawled into Chrysler’s books and received the fright of its life…

    And in other news, GM’s still going to right itself selling oodles of $40K electric Chevrolets.

  2. “Otherwise, policymakers are snobs. …Credit is toff economics, demand is for proles.”

    I’d say he’s taken leave of his senses, but I’m not sure that he ever had any.

  3. I remember him writing an article arguing that we should save the planet etc by not travelling anywhere. It reminded me of the Duke of Wellington’s concerns about the railways, that they would encourage the common people to get about.

    What an arse. Funny, isn’t it, how all these various toffs (Porrit, etc) are such dolts. What are they teaching them in schools?

  4. Simon Jenkins has for a long time been one of the more reliable reverse barometers, as in, you read what he writes and automatically assume the diametric opposite to be the case (q.v. Toynbee, Monbiot, Richard ‘Rhyming Slang’ Murphy etc.).

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