The excellent Liam Halligan gets stuck in to Jeremy Paxman, and the feeble-minded Ruth Kelly, on Newsnight, discussing the hobgoblin of 'deflation'. Go from about:
=> 13:36 to 22:06
What's really sad about this discussion is the accusation by Ruth Kelly that Liam Halligan is the 'only' person who refuses to believe that we face a 'crisis' of deflation.
In a sense of course she is right. Aside from his colleagues on the Torygraph, such as Iain Martin and Jeff Randall, Liam Halligan is just about the only person in the 'British Establishment' who is opposed to Gordon's horrific bubble reflation attempt and the subsequent massive inflation it is going to create.
This lonely stand does of course make Mr Halligan a hero, in the mould of Der SchiffMeister, so if you're watching Liam, AngloAustria doffs its collective cap to you.
But as Liam himself says, there are plenty of people outside Britain, such as the gold markets, and the bond markets, who know exactly what happens when you run money supply growth rates at near 20% rates.
(Thanks to Tom H for the link.)
1 comment:
What's really sad about this discussion is the accusation by Ruth Kelly that Liam Halligan is the 'only' person who refuses to believe that we face a 'crisis' of deflation.
This is a debating ploy that gets more annoying every time I hear it. It absolves the Keynesian putting it forward from any need to argue his own case in a methodical, logical manner. Its a cheap, baseless appeal to the crowd: "100 people agree with me and only 2 or 3 agree with you - and they are Tories so they dont count - so shut the fuck up". And yet I see no reason to assume that just because 100 people say milk comes from a carton and not a cow that that is true.
"The BBC - producing bollocks 'cos of the unique way it is funded"
Post a Comment