More Ritchie

But nothign else pensions do creates jobs – or manufacturing or anything else. Credit does that – and Davis shows himself to be economically ignorant (sorry to be so blunt – but it seems like a statement of truth to me) to argue otherwsie.

No wonder we have no manufacturing then – we’re clueless about how to fund it, and repeat that cluelessness on television to ensure that people remain in ignorance.

Agreed that credit allows you to expand production, create jobs.

But you just try getting some credit without any equity.

Indeed, we don\’t actually want anyone to get creidt without equity there to absorb at least the first chunk of any possible losses.

And that\’s the bit that The City/pension funds/stock markets provide.

The equity which underpins all credit allocations.

9 thoughts on “More Ritchie”

  1. Every time I see Murphy accusing someone of being “economically ignorant” I imagine a siren going off in Worstall Mansions and our gallant hero sliding down the brass pole, changing costume en-route, to do battle with stupidity (OK, OK, putting his slippers on and making a nice cup of tea, but work with me here, people.)

  2. So, in Ritchie world, a nation consistently in the top ten manufacturing nations in the world has “no manufacturing.”

    Is there no start to the man’s knowledge?

  3. Apologies if Mr Murphy covered this in his article but I haven’t got the energy to find or read it. Doesn’t credit have to come from somewhere, for example a saver or pension investor? Someone who wants to build a factory can’t just magic the wealth required from nowhere, after all. Similarly, building fabulous factories is entirely pointless if nobody has the wealth to buy their produce.

  4. You are missing the whole point of Social Credit wherein you get a National Dividend of dosh to spend how you like ,secured on the capital asset value of the entire country.Can’t see the problem myself: can’t be more of a mess than modern Keystone Cops Capitalism.

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