Can we lock him up yet?

We need a revolution

Isn’t that one of the things you can be locked up for? Or is that only if it’s a call for a violent one?

Now, this is interesting:

It will have to commit to higher public spending – knowing that much of this will pay for itself by delivering tax paid, improved productivity and positive multiplier effects as state employees spend their wages.

How come we’ve got a deficit then? You know, with government spending at centuries long highs of GDP?

It has to commit to use quantitative easing to pay for this in the first instance – not much less than £200 billion will do, and maybe more. So far it has never been inflationary.

Snigger.

There will be a need for higher taxes on the well-off. Wealth will need to be taxed considerably more. This is not for revenue: it is time to reorder British society so that it is no longer structured to serve an elite, but everyone.

We don’t actually need it but let’s steal it anyway.

There may need to be tariffs on some imported goods to protect struggling UK businesses.

But if the pound’s collapsed then imports are already more expensive, no?

The financial markets will need a quiet revolution: the use of savings for speculation has to end if state subsidy for pensions and other savings is to be enjoyed.

People might be shocked by yesterday’s £65 billion intervention for pension funds, but they get that amount every year, with it all flowing into the City and not pension returns. That has to end unless the money is used for the public good

This is really, really, great. For of course the Tuberoso Plan is that we all invest in 1% bonds for our pensions. Which is exactly the part of the system that went screwy, 1% bonds, right?

9 thoughts on “Can we lock him up yet?”

  1. One of the small joys of a revolution would be to see the look on Murph’s face as he is wheeled off to the gulag. I’d laugh forever.

    He assumes the narcissist who takes over will give Murph (another narc) a seat at the top table and an open ear. Hahahaha

  2. We’ve spent twenty years ‘borrowing to invest’ and I can’t see any benefits. The whole idea is snake-oil, a way of parting people from their own money, only to give it back to whoever is in favour, less fees, administration costs and handling charges.

    More snake-oil is not the answer (unless you are one of the ones earning fees, administration costs or handling charges). And that’s why the media are up in arms – their masters have been rumbled.

  3. Dennis, Pointing Out The Obvious

    Murphy’s intellectual and emotional decline continues unabated.

    It’s only a matter of time before we have him wandering the streets of Ely proclaiming himself as “Richard Murphy, Poet, Tragedian and Twit” and reciting his 406 line rhyming poem, “The Disaster of Brexit, Neo-Liberal Economics and the Tories”, as well as his 113 line poem, “Where Are My Gilts?”.

  4. Dennis, I’m convinced his increasingly nonsensical & incoherent ramblings indicate a health problem, perhaps a TIA or some degenerative brain disease.
    What’s needed to help the poor fellow? Empathy or intervention?

  5. Can I steelman Murphy?

    《We don’t actually need it but let’s steal it anyway.》

    Why not make taxes voluntary, print the budget, and insure inflation using central-bank-supported COLAs and inflation swaps?

  6. I’d say to the above what I’d say Murphy lost sight of many years ago.
    Money has no intrinsic value. It is simply a token of value useful in the exchange of goods, services & assets. If you have a supply/demand mismatch, no pissing around with the money supply is going to make the slightest difference to that.

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