Thursday, January 24, 2013

George Osborne looks a Gift Hearse in the Hoof in Mouth!

commentary by Roger Erickson

'He said at the World Economic Forum in Davos that Britain had built up credibility with harsh measure to reduce its massive deficit which allowed him to borrow [fiat] from markets at the lowest rate "perhaps of any Chancellor before me".'

Borrow fiat? Lowest rate?

The only real thing that's lower about this Chancellor is his functional IQ. Word's completely fail me. It's the foundation of ignorance.

'Hop in boys. The rear view mirror's broken, but this thing really flies in reverse! Watch while I stomp on us!!'

There should be a museum for all to see how dumb George Osborne is.

There aren't enough people left in Britain to bear adequate witness to he who is witless.

"Through the floor!!!"

Who on earth elected this piker?

Up against the wall UK teachers! This time you've really blown it.


Matt Franko said...

Conspicuous absence of references to any borrowing here:

Critical Tinkerer said...

On the side note, did anyone notice Krugman mentioning relation of private sector to public sector corectly?
He must have been reading MMT articles.

PeterP said...


Krugman is going MMT big time. He is super smart after all. He gets it. He got monetary sovereignty, he recently wrote the was no money multiplier etc. He can only afford to change his views at some pace though. And he still doesn't get banks at all.

As to Osborne, it was none other than Krugman that killed his argument: US had no austerity and it can *also* "borrow" the cheapest in history, so what was that austerity good for now?

Unknown said...

George Osborne looks a Gift Hearse in the Hoof in Mouth!

funny title, made me laugh