Sunday, March 29, 2009

The Keynesians may be cracking...

The most intelligent Keynesian in this country, Ambrose Evans-Pritchard, who blends much of his crass Keynesian/Galbraithian idiocy with extremely penetrating insight, is beginning to crack under the onslaught of all of his 'hard-money' commenters.

In a shrill and tetchy think piece in The Sunday Torygraph, he claims heroism for the Bank of England in the way it 'saved' the credit system and that our only saviour is the printing press.

With many a back-handed swipe at the 'hard-money' crowd, many of whom pay his wages by buying The Torygraph, he paints a picture in which the one-eyed Scottish idiot is a hero, and people such as yours truly are attempting to destroy the world.

Well, taking this personally, I felt I was forced to retort (though it is highly amusing that even Ambrose, that most eloquent of the enemy, is so obviously cracking). He and his ilk no longer live on Mount Olympus. And we will keep dragging them down from their palaces until they live on the plains with us, the common people, who are being forced to pay for all of their arrant counterfeiting nonsense.

(Ambrose's article is particularly worth reading for all of the commenters who suggest he has been kidnapped and replaced by Gordon Brown.)

Jack Maturin on March 29, 2009 at 05:11 PM

Oh come on, Ambrose, can't you drop this Keynesian nonsense about what created the Depression in the 1930s? It's only when you become capable of doing that, that you'll be able to see what a mess the Keynesians are making of this situation now, in the current central-bank-created Depression.

You don't even have to spend any money. All you have to do is read the beautifully-produced online version of "America's Great Depression" at ScribD. Read it here:


UPDATE: It's good to see that not only do we have 'M.Rothbard' commenting on Torygraph pieces, but on Ambrose's we also have 'Ludvig Von Mises' and 'von Mises Jr'. Splendid work! Keep it up, chaps and chapesses, and soon we will have Ambrose running to the lunatic asylum for sanctuary, as Gordon Brown's chief economist. That, or he might actually read some Austrian books and finally realise why he has been wrong all of these years. What is it about senior politicians and journalists? Why are they so incapable of reading anything, longer than a think piece essay, beyond the age of 21?


Tom H said...

Ambrose's article is a real hoot today, damning us all as "ungrateful wretches". AEP is rattled.

Still, Liam Halligan's article on the deflation red herring more than makes up for AEP's rant. There's even a posting from a M. Rothbard at 09.21.

Jack Maturin said...

Yes, I did like the 'M.Rothbard' tag.

Obviously, it should be 'Uncle M.Rothbard', but what the heck! :-)