A bold claim

Let’s see if it comes true, shall we?

Amongst those impacted there will be several million households that will be out of cash soon – and where starvation will be the issue to be faced as April progresses.

Actual starvation, eh?

This is also fun:

Unless something as big (at least) as the Marshall Plan is in the pipeline we’re not going to come out of this for a very, very long time.

Sunak’s already spending very much more than the Marshall Plan. Just his loans to business are more than 5 times the size of it.

The Marshall Plan’s accounting reflects that aid accounted for about 3% of the combined national income of the recipient countries between 1948 and 1951

9 thoughts on “A bold claim”

  1. Bloke in North Dorset

    Spud advocating free markets again, wonders never cease (my emphasis):

    The Marshall Plan
    This account has not mentioned the Marshall Plan. Can’t West Germany’s revival be attributed mainly to that? The answer is no. The reason is simple: Marshall Plan aid to West Germany was not that large. Cumulative aid from the Marshall Plan and other aid programs totaled only $2 billion through October 1954. Even in 1948 and 1949, when aid was at its peak, Marshall Plan aid was less than 5 percent of German national income. Other countries that received substantial Marshall Plan aid exhibited lower growth than Germany.

    Moreover, while West Germany was receiving aid, it was also making reparations and restitution payments well in excess of $1 billion. Finally, and most important, the Allies charged the Germans DM7.2 billion annually ($2.4 billion) for their costs of occupying Germany. (Of course, these occupation costs also meant that Germany did not need to pay for its own defense.) Moreover, as economist Tyler Cowen notes, Belgium recovered the fastest from the war and placed a greater reliance on free markets than the other war-torn European countries did, and Belgium’s recovery predated the Marshall Plan.

  3. Bernie G.

    “Amongst those impacted there will be several million households that will be out of cash soon.”

    Am acting as bank of last resort for neighbours with questionable health issues – who regard cash machines as petri dishes (the local economy has a small but important cash-only component). They deposit a personal cheque in a box on the porch and help themselves from the wad of notes therein. We’re a trusting lot.

  4. MC

    In his defence, Ritchie is referring to the Carrie Marshall Plan, which requires trillions to be spent on cock removal surgery, size 24 ball gowns and Veet.

  5. Theophrastus

    “…starvation will be the issue to be faced as April progresses.”

    So he’s never heard of the UK’s obesity ‘epidemic’?

  6. Andrew M

    Bernie G. – Bloody hell, where in the world do you live that’s that safe and trusting? I thought places like that only existed in Enid Blyton stories?

  9. Pcar

    @Bernie G

    I did some shopping for (not online) oldies yesterday, bought everything requested and added some 95% off fruit & veg. Left in one of their multiple wheelie bins. Cash came through letterbox today

  10. Chester Draws

    Actually, I think there will be people literally starving by the end of April. Not starving to death, but with so little to eat that they are constantly hungry.

    Anyone who had a decent job but who was close to the border financially, say with car repayments on top of rent etc, and who has lost their job is in a world of hurt. Many of them won’t have any friends or family in much better positions to borrow from. If they lose their car then they won’t be able to get work in when they get out of lock-down so they will try to keep up payments as long as possible. Food will be one area they will but back.

    And then that’s people who were coping before. There’s plenty who were barely coping before who will be going very hungry, very soon.

  11. Bernie G.

    @Pcar… Am more facilitator than the altruistic sort. Others round here are putting themselves out a lot more than yours truly. From what I can see the biggest burden falls on those obliged to welcome young adults and not so young adults (and their children), back to the family home for the duration. Having to feed more mouths, cook and clean up after them, listen to their moans.

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