If only Spudda had an education

The FT is continuing to face reality as it considers what to do in the face of the coronavirus crisis. It has an editorial today that concludes:

The scale of today’s downturn means even the most direct monetary financing, such as “helicopter money”, or handing cash to the public, should remain an option.

That’s pretty radical, and I rather strongly suspect suggests that this editorial reflects the views of Martin Wolf, who has always had sympathy with helicopter money, when I have had my doubts, believing it for government to manage our social safety net.

How bad do you think the apoplectic fit would be if you pointed out that helicopter money is a Friedman idea? Not, actually, MMT at all.

14 thoughts on “If only Spudda had an education”

  1. Richard Murphy – the Eeyore of the economics world, without having Eeyore’s charm, good humour or agreeable manner

  2. Richard Murphy – the Don Quixote of economics. Tilting at non-existent windmills on the back of Rocco’s donkey.

  3. Who said on April 2

    If the UK current trajectory continues – and as we run out of medical facilities that is a reasonable assumption for the next week or more – then deaths of more than 10,000 a day are likely in little more than a week if the rate of growth seen yesterday continues?

    How wonder how good he is at budgeting…

  4. The word “cunt” perfectly describes Murphy. It’s just that he’s the most appalling cunt.

  5. BlokeInTejasInNormandy


    Misuse of language. I have a soft spot (well, no; hard..) for cunts.

    But not Murphy.

  6. Off topic but “Data from China, where the pandemic began, also suggests men are at greater risk than women, although experts caution there could be factors other than gender, such as smoking habits, that could explain the link.”

    So if there’s a difference between outcomes for men and women there might be factors other than gender.

    Have to remember that.

  7. Bloke in North Dorset

    Andrew C,

    That looks like the anti-smoking zealots at PHE up to their usual tricks

    “ An evidence review published three weeks ago found no association between smoking and the severity of COVID-19. This is a rapidly evolving field of research and the results may change over time, but evidence from the 13 studies published to date ‘does not support the argument that current smoking is a risk factor for hospitalization for COVID-19’. On the contrary, it ‘raises the hypothesis that nicotine may have beneficial effects on COVID-19.’”


  8. Emotion has no place in Economics or Politics

    Europe may have reached peak infection rate as global deaths near 70,000

    Yes, 70,000 not 700,000 or 7 Million or 70 Million or 700 Million

    700 Million would be ~8% of world population, ~70,000 is Nothing

    Nothing? Yes, ~58 Million (58,000,000) die every year

    End these scam-demic panic mongering lockdowns Now, or China will rule world. Panic encouraging media fools needs shot

    Governments are ‘curtailing our cherished freedoms’ under guise of public safety

    Sick of these politicians who use projections to justify locking people up, What ever happened to facts

    Everyone is well within their rights to self isolate, no one however should be coercing with threats of harm to isolate Fear should not trump freedom

    Aspen Medical ‘working to roll out pop-up clinics’ across Australia

    Aus has had 37 deaths in the entire country. Why would you need pop up clinics?

  9. The Bank of England will buy some £4.5 billion of UK Gilts today and HM Treasury has issued some £3.25 billion. So in NET terms UK INC will buy some £1.25 billion rather than sell. This is a major reason why Gilt yields are so low #QE

  10. U.S. President Donald Trump offered help to treat British Prime Minister Boris Johnson, who is in hospital, saying he had asked “leading companies” to “contact London immediately” about solutions.
    “We’ll see if we can be of help. We’ve contacted all of Boris’ doctors, and we’ll see what is going to take place, but they are ready to go,” Trump said during a press briefing in Washington.

    Trump offering meds BBC, NHS, PHE etc pretend don’t exist as OrangeManBad

    China are now representing the Asia-Pacific region on the UN Human Rights Council

    Next up: Bernie Madoff to be head of the World Bank
    It’s becoming more of a joke everyday. Sick of my hard earned taxes funding this corrupt rabble


    Ritchie drivel – :Facepalm

  11. I made the mistake of reading a column by John Crace today. Obviously it’s stupid because what else could it be? But it’s the preening sanctimonious tone that just makes me want to retch. A stupid column, by a dim-witted man who thinks he is Freeman Dyson.

    Her Maj still hasn’t forgotten how she was used, and made a fool of, by Boris Johnson over the prorogation and pointless Queen’s speech. In Boris, she doesn’t trust. But then who does?

    Still hung up on something that never happened apart from in his underpants. And didn’t those fuckwits use that Supreme Court decision to advantage! And they have Keir snake face as their new leader! They can’t even invent laws from nothing and win

  12. @Diogenes

    John Crace will be one of those evil, evil people on Twatter wanting Boris to die and Hydroxychloroquine to be banned in UK

    – Doctors, not Bureaucrats or Cumou who’s banned it, should decide if we use Hydroxychloroquine

    Almost: The Patient should decide if they want to take it

    Imagine being so woke you think denying life saving medications from your own voters is a good idea

    Meanwhile in UK Gov, NHS, PHE, BBC etc all silent on Hydroxychloroquine and Pharmacies refusing to sell even though an OTC drug

    If I ever get sick with CV19, sign me up for this medication. Politicians lie while people die

    – The media ‘loves to have it both ways’ on coronavirus coverage

    – Senator Ted Cruz, R-TX, weighs in on Joe Biden’s gaffes and the media’s portrayal of COVID-19

    Mainstream media trying to get everything shut down so riots and looting start?

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