The card, the card!

Having produced information on government borrowings and repayments over a seventy year period, and in the process shown that curtailing the analysis after 62 years would not change the outcome, I have been challenged to produce further variations.

One, oddly demanded only by those of a right wing persuasion it seems, wanted the first eight years of data lopped off to match my ignoring the last eight. Those making the request seemed to think that the economic environment of the immediate postwar period might have given a result biased to Labour. I have to say I think that absurd: the contention is that Labour was as unable to manage this post-war environment in a way that it is suggested (by implication) that George Osborne has been unable to manage the last few. When the Attlee government transformed the economic environment forever in this short period the hollowness of that suggestion will be noted.

So how did Attlee manage to transform matters? But running a budget surplus, right? The very thing that Ritchie is calculating, who ran budget surpluses.

But Ritchie insists that no one should ever run a budget surplus, right?

Stump thinking.

21 thoughts on “The card, the card!”

  1. Well he certainly doesn’t want a government surplus just now, does he, given his recent post on the multiplier that he seems to think applies to all government spending now?

  2. It is almost pointless but at least it has kept him from other, much worse mischief over the past three days.

  3. And it has also had him passionately defending Labour (the party he isn’t associated with in any way) as being better implementing a policy he thinks is terribly wrong and terribly right-wing.

    Chuckle.

  4. It’s a bit scary that a complete and utter moron, a cretin who contradicts himself 5 ways before breakfast, can actually attain some public recognition and make a decent living from spouting the utmost drivel.

  5. The question is – who the fuck actually cares? As MMT shows, it isn’t an issue. The last time the UK was in the early 90s (broke down on Black Wednesday.)

  6. Immediate postwar period:

    Rationing of basic staples until 1954
    Capital controls – households moving abroad limited to £5,000 from 1945, and slashed to £1,000 in 1948 before rising to £5,000 in 1950 for emigrants to Europe.

    I daresay that if Osborne was able to lock money in and charge tax at punitive rates of 99%, the deficit would shrink.

  7. Does anyone think the blog gets a bit Murphy-heavy sometimes? It can be entertaining but surely there are more important issues nowadays. Or is he still really given enough credibility by some to matter?

  8. Ken…I guess Murph thinks that the quality of life was better in that 1945-55 period than in the last 10 years. The man is a total moron who contradicts himself from post to post and doesn’t realise it, even when an Italian porn star points it out to him.

  9. oblong

    The astonishing thing is that this total moron is on speed-dial for a number of mass media outlets. He needs to be debunked as ruthlessly and as regularly as possible.

  10. Based on the latest exchanges on Murph ‘s ego worship blog, govt spending only works if it is a labour government doing the spending. How would Ken mark that piece of Murph reasoning?

  11. John M>

    He’s either a complete cretin, or a very clever and absolutely evil antisemite. He continues to make it pretty much impossible to tell which it is, although I find it stretches credibility even more to believe that he’s endorsing comments about ‘the tribe’ and ‘the you-know-whos (it rhymes)’ in ignorance than that he’s got where he is despite being a weapons-grade idiot.

    One of the most damning pieces of evidence is that anyone who disagrees with him gets banned, but even when he does eventually moderate a comment for being too overtly antisemitic, that commenter is allowed to continue posting: that suggests very strongly (to me, at least) that what he objects to is people ruining his message by making it too obvious what he’s really talking about.

  12. Any evidence, Dave. I think I am now banned despite not being Jewish as you can tell from my films

  13. Running a budget surplus in 1945-50,was a guarantee of hardship. Murph can only dream and wank about those levels of hardship

  14. So Much For Subtlety

    Dave – “He’s either a complete cretin, or a very clever and absolutely evil antisemite.”

    Too easy. The very clever and absolutely evil anti-semite obviously.

    “One of the most damning pieces of evidence is that anyone who disagrees with him gets banned, but even when he does eventually moderate a comment for being too overtly antisemitic, that commenter is allowed to continue posting: that suggests very strongly (to me, at least) that what he objects to is people ruining his message by making it too obvious what he’s really talking about.”

    Or … it might suggest he only cares about his ego and so people who disagree with him get banned? But no, that is too easy. Clearly it is the anti-semite thing.

    Dave, you are the only person I know who makes Ritchie look sane and sensible. You need help.

  15. One of the most damning pieces of evidence is that anyone who disagrees with him gets banned…

    Right – because it’s only antisemites who ban commenters who question their pronouncements. Or is that neo-antisemites – I get so confused.

  16. Still there are other people and events in the world besides Ritchie.
    China exists.
    The native population of erstwhile britain still are there to some degree.
    Religion plays intermittent havoc .
    So it is not all Ritchie. And , please note , not all -totally about money.

  17. I put his figures into a deficit-reduction test to see how often governments reduced a nominal deficit, if there had been one the year before.
    Labour – 12 out of 23
    Conservative – 19 out of 34
    So Conservatives have a better record on deficit reduction.

    But an oddity came up – if treating the IMF-Lab, the Lib-Lab pact and the Con-LD years as coalition governments, the deficit was reduced in 6 out of 7 years.

    So if coalition governments of different sorts are included separately, they do best in the analysis.

  18. Ken

    Murphy is in favour of 90% base rate and 99% top rate so if Osborne touted that policy he’d (presumably) be in favour

    Oblong

    I can see your point but all that is required for evil to triumph is for good men to do nothing – as Murphy is as close to pure evil as you will see on the blogosphere he needs to be opposed fully at all times….

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