We all know he wants us to invest our pension in Green Bonds. Green bonds that pay 3%.
Then there\’s this:
Planned inflation has to be part of the solution too. It is the only historically proven way to wash bad debt out of an economy. Which is why we need it at 4 to 5% now.
The thing is, I really cannot see how those two can be combined with this:
People want fair pensions – not ones that decline in value.
Do you think Ritchie realises that if inflation is higher than interest rates then people lose money as they hold bonds?
words fail me.
He does appear to have trouble with the meaning of symbols like , doesn’t he?
Oops. All the important bits disappeared into the HTML zone…
What a complete jerk!
Inflating away debt is the punishment of those who acted properly (didn’t accrue debt but saved instead) to cover up for those who didn’t.
It is the most unjust economic policy imaginable.
Truly the hashtag #wgce was invented for this man.
Tim adds: If only I knew what that meant…..hashtag, I mean.
“It is the most unjust economic policy imaginable.”
Apart from proscribing people and confiscating their wealth. As practised in the Late Roman Republic, Nazi Germany, and the EU.
The man is a lying charlatan.
That is a new high, even for Ritchie.
I believe that this contradiction was pointed out to him before. The contributor was met with the usual shower of insults, and then obviously blocked from commenting any further.
Quality guy, really.
Tim adds: “The contributor was met with the usual shower of insults, and then obviously blocked from commenting any further.”
Yes, I was…..
I don’t really understand economics. It isn’t my field. I’m an electrical engineer. But I get the impression that Richie is like an engineer who has no grasp of the fundamentals, like Voltage being a differential quantity, and current being a rate of flow.
You would think someone writing for such an august publication as Forbes would be able to keep a coherent argument from the start of an article to the end.
For an alleged accountant to simultaneously want high inflation and protection for pensioners, and not realise the conflict, is astonishing.
“Tim adds: If only I knew what that meant…..hashtag, I mean.”
Hashtags are things on Twitter. wgce means “Weapons Grade (male appendage with a name like like a Noisy early morning domesticated bird) End”