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There is a massive need for new state investment, more even than private investment – and there is a shortage of that as well. Few seem to have any idea about how that will be delivered, but some mention tax increases on wealth and maybe land. None talk about turning savings into the national capital that we need to rebuild the economy. It’s as if the entire economics profession has completely forgotten that there is any link at all between savings and investment.

This from the man with a grand plan to increase the taxation of wealth – that return to having saved and invested. For of course if you lower the return on something you increase the amount of it, don’t you?

16 thoughts on “Great idea”

  1. Just checking….

    Has anyone ever spotted the guy contemplating actually putting his money where his mouth is?

    He’s pretty hot on spending someone elses’ money, real or imagined, but my Google-Fu came up empty on that one. But I might have missed something.

  2. “It’s as if the entire economics profession has completely forgotten that there is any link at all between savings and investment”.

    That’s it! The economics profession has completely forgotten about economics. Apart from one man, of course…

  3. If Spud were to admit that, like 95% of big state socialists that I’ve encountered over the last 30 years, that he is a manic depressive, I could maybe forgive his asinine rantings.

  4. Is Ritchie vaxxed and boostered and is he up to date with his rabies jabs?

    2024 begins. I am, at last, Covid-free. However, having had it over the whole holiday period, I feel in need of a break. I will be taking it quietly this week: I am hoping to avoid the curse of long-Covid, which lasted for eight months last time

    Ritchie was and is, predictably, a full blown Maskie and Mystery Jab nut. He wanted the British government to vaccinate the entire world. But the drugs don’t work, they just make him worse:

    Reading the FT annual survey of economists this morning this morning serval things stood out:

    Climate hardly got a mention, except for my Green New Deal colleague Andrew Simms, and Lydia Prieg from the New Economics Foundation. That was staggering and deeply worrying.

    We have no money but it’s “deeply worrying” the FT didn’t take the opportunity to promote more unaffordable Weather Charlatanry. In addition to the several trillions of pounds worth of Climate Cult we’re already signed up to.

    The gloom is nearly universal. Growth is not going to happen. Living standards will have fallen during this parliament, which is unprecedented. And few see much prospect for change but for those on the lowest pay and pensioners. Those with mortgages are universally accepted as being sacrificed on the altar of the Bank of England. Many think it is being overly aggressive with its policies. Almost all agree it is the cause of recession.

    Ritchie (correctly) groks that something is badly wrong in the British economy, which is ‘growing’ at less than half the rate of Replacement Migration. Which means it’s shrinking on a per head basis, which is the only thing that matters.

    As we know, there’s no growth in a Net Zero economy, because you can’t grow the economy while shrinking it.

    Naturally, Ritchie thinks it’s them bastard members of the Bank of England’s monetary policy committee who are to blame for not continuing the free money ride.

    There is a longing for some political stability that the Tories have so dismally failed to supply but only Andrew Simms mentioned electoral reform. It’s as if economics exists in a world entirely distinct distinct from the world of politics according to most of the respondents – almost none of whom seem able to connect the real world and the economy. It’s as if they think political economy does not exist. No wonder we’re in a mess.

    Very conservative of Ritchie to want stability, but – serious question, Blokes: where is stability going to come from?

    What would stability look like?

    It’d look very much like we shut our borders to all but the “tens of thousands, net” promised by Lord Pigfucker and co. since 2010. We’d have to ditch Net Zero immediately, of course. And we have to urgently reduce public spending, because running a £85Bn deficit isn’t stable.

    On the social front, we need an immediate cessation of all “culture war” activities, which means no more LGBTQ or Diversity in schools, hospitals or the armed forces.

    We are in no position to afford war or conflict. So we would have to stop doing those.

    So, sadly, I don’t think we are due any stability, do you? Because nobody in a position to do things that bring stability will do them.

    But first of all, Ritchie has a cold. And candidly, that’s your fault:

    But first of all, I need to get fit again, and am not there yet. If anyone tells you Covid is like a cold, politely tell them to stop being stupid. It is not, which does beg the question as to why a) I was given a vaccine last September that the government knew was out of date and ineffective and b) they are ignoring all World Health Organisation warnings on Covid now. We are living in a pandemic and are pretending otherwise, which just about summarises the entire problem that we face when it comes to tackling politics at present.

    For relaxing times, make it vaccine time.

  5. “None talk about turning savings into the national capital that we need to rebuild the economy. ”

    He seems to have this Scrooge McDuck delusion that everybody stores their “savings” in a chest under the bed (or in a pool). No comprehension whatsoever that “savings” are invariably being put to work – invested – somewhere.

  6. That raises an interesting point, Recusant.

    If he thinks that all the savings need to be forcibly invested into Green crap by government and all these uninvested savings are hidden under mattresses…

    How does he plan on appropriating these funds?
    Storm troopers going door to door, searching every nook and cranny in every house to find them?
    I probably shouldn’t give him ideas…

  7. Spud isn’t a detail person, so won’t have a plan of any sorts.

    He’s more of an ideas man – I think someone has more than me, so how can I steal it from them?

  8. Steve

    Is Ritchie vaxxed and boostered and is he up to date with his rabies jabs?

    Oh yes – he advocates cessation of public benefits and mandatory house arrest for anyone ‘unjabbed’ and is quite happy to curtail people’s freedom if they veer away from state advice

    – RM original post – 2024 begins. I am, at last, Covid-free. However, having had it over the whole holiday period, I feel in need of a break. I will be taking it quietly this week: I am hoping to avoid the curse of long-Covid, which lasted for eight months last time

    From recollection might have been Sam Jones or the Meissen Bison that said he had COVID seven times – and Long COVID doesn’t seem to have had too much impact on him – he’s put out thousands of bullshit blog posts and found time to put together a hundred plus page monograph, all at the expense of taxpayers, whether through his academic roles or via taxpayer funded sock puppets

    Ritchie was and is, predictably, a full blown Maskie and Mystery Jab nut. He wanted the British government to vaccinate the entire world. But the drugs don’t work, they just make him worse:

    As the most evil person extant in the blogosphere his support of lockdown and all the other COVID paraphernalia was rather along the lines of finding that Hamas terrorists (whom he enthusiastically supports) ‘like killing Jews’ – not exactly a revelation

    RM original post – Reading the FT annual survey of economists this morning this morning serval things stood out:

    Climate hardly got a mention, except for my Green New Deal colleague Andrew Simms, and Lydia Prieg from the New Economics Foundation. That was staggering and deeply worrying.

    Maybe the felt that COP 27 or 28 was overkill or the virtue signalling of the NYE fireworks or King’s Speech were sufficient?

    We have no money but it’s “deeply worrying” the FT didn’t take the opportunity to promote more unaffordable Weather Charlatanry. In addition to the several trillions of pounds worth of Climate Cult we’re already signed up to.

    Don’t forget there’s always Money – just print it, and to hell with inflation

    RM original post – The gloom is nearly universal. Growth is not going to happen. Living standards will have fallen during this parliament, which is unprecedented. And few see much prospect for change but for those on the lowest pay and pensioners. Those with mortgages are universally accepted as being sacrificed on the altar of the Bank of England. Many think it is being overly aggressive with its policies. Almost all agree it is the cause of recession.

    Not sure I get the second sentence here – even by his standards it doesn’t compute or run. I like the way that ‘many’ is a synonym for me as well.

    Ritchie (correctly) groks that something is badly wrong in the British economy, which is ‘growing’ at less than half the rate of Replacement Migration. Which means it’s shrinking on a per head basis, which is the only thing that matters.

    As we know, there’s no growth in a Net Zero economy, because you can’t grow the economy while shrinking it.

    Naturally, Ritchie thinks it’s them bastard members of the Bank of England’s monetary policy committee who are to blame for not continuing the free money ride.

    Spot on – as well as being directly responsible for inflation he is indirectly responsible for every other issue through enthusiastic support (and advocacy of imprisonment of opponents of)

    – Net Zero
    – The Replacement of the indigenous population

    RM original post – There is a longing for some political stability that the Tories have so dismally failed to supply but only Andrew Simms mentioned electoral reform. It’s as if economics exists in a world entirely distinct distinct from the world of politics according to most of the respondents – almost none of whom seem able to connect the real world and the economy. It’s as if they think political economy does not exist. No wonder we’re in a mess.

    The notion that electoral reform would provide stability based on Libdem, Labour and SNP support for Hamas is pretty wishful thinking

    Very conservative of Ritchie to want stability, but – serious question, Blokes: where is stability going to come from?

    What would stability look like?

    It’d look very much like we shut our borders to all but the “tens of thousands, net” promised by Lord Pigfucker and co. since 2010. We’d have to ditch Net Zero immediately, of course. And we have to urgently reduce public spending, because running a £85Bn deficit isn’t stable.

    On the social front, we need an immediate cessation of all “culture war” activities, which means no more LGBTQ or Diversity in schools, hospitals or the armed forces.

    We are in no position to afford war or conflict. So we would have to stop doing those.

    So, sadly, I don’t think we are due any stability, do you? Because nobody in a position to do things that bring stability will do them.

    But first of all, Ritchie has a cold. And candidly, that’s your fault:

    Spot on – ought to be emblazoned onto the brain (if any exist) of all MPs

    RM original post – But first of all, I need to get fit again, and am not there yet. If anyone tells you Covid is like a cold, politely tell them to stop being stupid. It is not, which does beg the question as to why a) I was given a vaccine last September that the government knew was out of date and ineffective and b) they are ignoring all World Health Organisation warnings on Covid now. We are living in a pandemic and are pretending otherwise, which just about summarises the entire problem that we face when it comes to tackling politics at present .

    If it is such an issue one hopes he might succumb to it if only to spare us more of his pontification.

    For relaxing times, make it vaccine time.

    KEK

  9. Climate hardly got a mention, except for my Green New Deal colleague Andrew Simms, and Lydia Prieg from the New Economics Foundation. and Erik Britton, Louise Hellem, Linda Yueh and Jagjit Chandha. And I didn’t mention that Simms and Prieg got 9 answers in between them as no-one else was interviewing them that day while the others were kind of busy. That is staggering and deeply worrying that the entirety of the visiting economics professorships of accounting practice profession (that’s me) can’t read beyond people I know I already agree with.

  10. VP – thank you and I hope you are very well this 2024.

    as well as being directly responsible for inflation he is indirectly responsible for every other issue through enthusiastic support (and advocacy of imprisonment of opponents of)

    What gets me is how dishonest it all is.

    These people, and the Spud is just one of them, lie as easily as breathing. To be part of Proggie World, one must leave one’s sense of probity at the door and embrace a rich tapestry of fantasy where Britain is some sort of right wing fascist state.

    Modern politics is mostly gaslighting. It takes a certain type of abusive personality to gaslight, and progressivism is full of antisocial personalities.

  11. Martin Near The M25

    “Those with mortgages are universally accepted as being sacrificed on the altar of the Bank of England”

    Well that sounds entirely sane.

  12. Dennis, Pointing Out The Obvious

    There is a massive need for new state investment…

    This is the place Richard Murphy always starts. He takes it as a given, rather than a debatable proposition.

  13. All Socialism is based on theft, ergo all Socialists are thieves.

    To take what isn’t yours (to redistribute) requires force, therefore all Socialists are also authoritarian.

    Richard and those like him are deeply immoral, evil people;

    O wad some Pow’r the giftie gie us
    To see oursels as ithers see us!
    It wad frae mony a blunder free us,
    An’ foolish notion:
    What airs in dress an’ gait wad lea’e us,
    An’ ev’n devotion!

  14. BIB

    Must admit I think that all socialists already know this. Indeed it’s the basic principle of government.

    The only thing that outrages them is that everyone else knows it too!!

  15. why a) I was given a vaccine last September that the government knew was out of date and ineffective

    What a stupid cunt.

    The question the said cunt ought to ask himself is why he trusted the government, which in all other spheres he claims to distrust and despise, and didn’t instead do a bit of reading for himself – there were plenty of very serious scientists pointing out way back then that the evolution of the virus was such that the booster jabs (which amazingly but truly were only ever tested on I think eight mice) were for a variant that no longer existed.

    It’s like locking your windows but leaving your door open and wondering why your TV has been nicked (except that the window locking bit never actually worked either and, to extend the analogy, you were actually putting the TV and everything else you owned, potentially forever, outside your front gate with a big sign saying ‘Please steal all my stuff’).

    Some Irish vaccine scientist called Dolores Cahill predicted back in 2021 that everyone who took these mRNA jabs would be dead three to five years after taking them.

    I hope she’s wrong – most of my family and friends took them – but I wouldn’t mind if she’s right in the odd case here and there.

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