The arrogance of economists and the stupidity of politicians

Don’t you just love the arrogance of economists and their detatchment from anything remotely resembling reality. They’re all scum sucking crackfarts, they really are. Little Nicky Machiavelli has said this many times and today there’s a mainstream journalist taking up the theme in response to an economics academic who says that anyone who does not have a PhD in economics should not be allowed to express an opinion on the subject as only verrrrrrry highly qualified economists can understand economics. (Of course this could be a conspiracy of academics and The Thought Police to silence bloggers).

Very highly qualified economic professors, now let’s see, aren’t they the people whose crackpot theories dumped up in the shit mess we’re in? Well it’s no wonder, these people are really stark raving bonkers in the head. For a start there is nothing hard about economics. As the Dickens character Wilkins Micawber put it: Annual income twenty pounds, annual expenditure nineteen pounds and 95p, result happiness. Annual income twenty pounds, annual expenditure twenty pounds and five p, result misery. That’s economics sorted.

Unfortunately politicians are stupid enough to listen to the self worshipping imbeciles who have spent their entire working lives cocooned in the unreality bubbles of University faculties. Nobody should ever listen to economists, particularly the ones who run the US Federal Reserve and who are now advising the Imbecile In Chief Obama to pawn America to loan sharks and raise money for “stimulus spending” (aka pork barrel politics and vanity projects).

Ambrose Evans Pritchard, economics writer for The Daily Telegraph says:
“Like a mad aunt, the Fed is slowly losing its marbles. Kartik Athreya, senior economist for the Richmond Fed, has written a paper condemning economic bloggers as chronically stupid and a threat to public order. Matters of economic policy should be reserved to a priesthood with the correct post-doctoral credentials, which would of course have excluded David Hume, Adam Smith, and arguably John Maynard Keynes (a mathematics graduate, with a tripos foray in moral sciences).”

Read full article
Time To Shut Down The US Federal Reserve? by Ambrose Evans Pritachard of the Daily Telegraph

The Daily Stirrer: More Stimulus

The G20 And Deficit Reduction

The G8 and G20 summits of financial leders running simultaneously in Toronto are both revealing deep divisions among governments about how quickly publid spending deficits should be reduced. This has caused uncertainty in financial market jover the past few days, with the American “broow and spend” economists of the Obama administration warning that reducing deficits too quickly will push the economies of developed nations into the double dip recession governments have feared.

Leading European economies, particularly the Germans, are emphasising the need to curb government spending, and it is a possibility a G20 communique at the end of the conference will set out a timetable for how far and fast countries should retrench spending.

Read full article: G20 20 Divided On Deficit Reduction by John De Roe at The Daily Stirrer

Cameron Shoots Himself In The Face

Ed Bollocks talks balls about VAT

Ed balls (small b for small balls) says:

“Next Monday – the day before the budget – George Osborne must come clean to parliament about the impact of his budget plan to raise the standard rate of VAT on the poorest households, pensioners and families with children.”

Now while I am totally horrified at suggestions that in his budget next week Chancellor “Let’s do another line” Osborne migh be considering putting VAT on food as that would really hit the poor very hard, a 2.5% increase on goods liable for VAT at the moment will not hit the poorest households hard at all.

The thing about VAT is the less you spend the less you pay. Truly poor people tend to buy mostly essentials and many essentials, food for example, are zero rated.

An extra 2.5% on a bottle of wine will not make me buy one thimbleful less wine just as the 2.5% reduction did not persade me to run out and buy anything I would not have bought anyway. All Ed balls has done here is show once again how out of touch the would be leaders of “the peoples’ party are with the people.

If Osborne’s proposed increase is on VAT liable goods only it may make some people think a little more carefully about how they spend their money.

On the other hand if Osborne does put VAT on food we must fill his pants with VAT liable custard.


Curbing Public Debt

Deepwater Horizon or Deepwater Abyss

It seems that after managing to pass off several weeks of dithering indecision about how to react to the catastrophic oil spill that has resulted from the explosion and sinking of the Deepwater Horizon oil rig in the Gulf of Mexico, Barack Obama in asking whose arse should he kick has provoked the same reaction from the oil industry and the American voters, “Your own, Mr President.” …..

Deepwater Horizon Oil Spill – The Tide Turns

History Today #1

“There are two overriding objections to modern culture’s eagerness to put labels on people. The first is that, often intentionally and sometimes merely carelessly, a label diminishes the complexity, nuance and uncertainty of the person on whom it is stuck. The second is that the label provides a lazy excuse to stop thinking about what the neatly labelled person is actually saying.”

With No Common Culture A Common History Is Impossible

Martin Kettle make a argument for teaching an English history curriculum instead of framing our children’s historical knowledge within the distorted and totally inaccurate narrative of Martin Luther King and the U. S. civil rights movement which has little to do with British history.

The Peterloo Massacre, the Napoleonic Wars and the birth of the Trade Union movement are British history so why erase these things but retain a very subjective view of slavery in the USA?

We must decide it is time to say, “Look, this stuff happened, it was a long time ago and nobody involved is still alive. Get over it.