Interesting financial logic

So, have a look at this:

Is this what immediately comes to mind?

First, note that it took a long time for people to stop saving after 2008.

No, read that again.


The rest of it is truly fun.

So, cash makes sense. But in that case let us put the cash to use by requiring that it be saved in hypothecated Green New Deal accounts. Paying fair (above current market) rates of interest these will lock cash up for several years and let it be used for the green transformation of the economy.

People, rationally, want to save in cash. So, instead, we’ll go nick the money to spend on our stuff.

11 thoughts on “Interesting financial logic”

  1. He’s currently up to over 140 of his dreary YouTube videos. Mostly watched by a few hundred people, which given that “Didga the Skateboarding Cat” has been watched by over 5.5m people isn’t so good.

  2. It’s hilarious. He reads that £70bn is put into ISAs each year so concludes he has £70bn each year to wazz into Green Tech.

    He takes no account of the fact that money is withdrawn from ISAs each year.

    There was in fact LESS cash in ISAs in 2018-19 than there was four years earlier. More money had been taken out than paid in.

  3. So in other words it is a compulsory government bond purchase scheme. I just read Ritchie’s post on his sight and some one asked what interest rate people would be given.


    For locking your money up for several years. And it is not market friendly as it is effectively by passing the bond market allowing the government to ensure that their bond issue is fully subscribed and they get to choose the interest rate rather than letting market forces decide on the rate.

    Frankly why is the toe rag looking at ISAs? Why not pensions? Pensions are almost compulsory now given the auto enrolment laws. Why not force people to buy his noxious toilet paper through the pension system? And why am I giving the little shit ideas?

  4. He’s a totalitarian – oh for sure one that makes an outward show of allowing people free choice (at least some of the time) but otherwise he’s basically Stalinist/ Fascist. A real piece of work whichever way you cut it

  5. Like a lot of people who feel their lives haven’t turned out right, Spud feels the need to “punish” and control others to make up for his own inadequacy.

    He is the sadistic gym teacher who thinks he should have been a premier league footballer.

    He is the carping book critic who thinks he should be a famous novelist.

    He the heckler at the comedy club who thinks his jokes are better than the popular comedian on stage.

    He is the politician who despises his colleagues who reject his ideas then sets up his own party – perhaps with a penchant for dark-coloured military styling.

  6. @ANNRQ


    I’ve always thought Spud would sound off in the pub on his expertise and experience about rugby based on the fact that he was once on the bench for his school 1st XV after a series of freak accidents and an outbreak of typhoid had so decimated the other players that the coach had no one else to pick.

  7. I’m often confused about ISAs. If the rate of return is fuck all, then the tax payable on it is fuck all. If the rate of return on (say) a cash ISA is less than the rate on any other form of saving minus the tax, then the attractiveness of that cash ISA disappears. One gets to this point effectively before the rates are actually zero, so that if the rate on a cash ISA is 0.01%, and for a bank account is 0.01%, you’d have to have an awful lot of money in an account for it to make a difference. For example, with £50k, 0.01% is £5, and as a 40% tax payer, we are comparing £5 to £3. Even with 0.1% interest, the difference is only pence per week.

    Apologies in advance if this is Diane Abbot arithmetic!

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