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October 17, 2008
Friday
 
 
Samizdata quote of the day
Brian Micklethwait (London)  Slogans/quotations • UK affairs

There is no "responsible" route out of recession - we need radical action to rescue the economy. We need a growth package and we need it fast, the sooner it is in place the quicker we will be out of recession.

- Guido Fawkes was underwhelmed by David Cameron's latest speech

Comments

I quite agree. We need radical action.

I suggest sacking three or four million public sector parasites, with forfeiture of their pensions and no redundancy payments or benefits thereafter.

The economy would boom.

Radical enough for you?


Posted by Brian at October 18, 2008 08:56 AM

Yes, that works for me Brian.


Posted by Perry de Havilland at October 18, 2008 11:52 AM

What is needed is no action at all.
The best analogy yet came from a commenter on these pages a few days ago about the players in a poker game with no money, but nobody knowing who they are.Failing banks should have been allowed to fail.
Of course it would have been painful, but it's going to be painful anyway.
But by bailing out institutions and individuals who have made imprudent, unwise or just plain stupid decisions the likelihood that this will all happen again is increased.
The only uncertainty now is WHEN it'll happen again.

Slashing the public sector as Brian at 8.56am wants is a timeless good idea, not particularly relevant to where we are now though.


Posted by Kevyn Bodman at October 18, 2008 03:19 PM

Hmm. I was sober when I posted that.

Having lunched well I am starting to doubt the wisdom of not hanging them. Perhaps a civil servant could care to make the case? (Assuming any civil servants touch this estimable website with a barge-pole.) But it would be a good start. Not that either policy is in the realm of practical politics.

Sigh.


Posted by Brian at October 18, 2008 06:15 PM
Having lunched well I am starting to doubt the wisdom of not hanging them. Perhaps a civil servant could care to make the case?

At first I was going to offer a calm and reasoned explanation as to why "Sunfish-rope-tree, some assembly required" is a bad idea.

Then I had a change of heart. Big talk on teh intardwebz usually means lots of hat but no cattle.


Posted by Sunfish at October 19, 2008 07:54 AM

No, no - we must have lots of action, we must "recapitalize" the banks. We must deal with the credit money bubble by producing more credit money.

Or as Neil Cavuto (no Austrian School economist - but still a man with some common sense) put it:

"I must dealing with being overweight by eating more - and I must make you all pay for the extra food".


Posted by Paul Marks at October 22, 2008 04:26 PM
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