No surprises really

Hello all, first post of the new year (and in two months).

What has spurred me into posting again?  Well I have been shut up for the whole working day in a small room that very few people come to, operating an instrument non-stop for nine hours a day and Richard 'Hyperbole' Murphy is talking non-sense again.

My comment was thus:

Firstly, Richard you have called for QE time and time again which INCREASES inflation (which you now concede makes people poorer).

Secondly, it was not investment bankers that induced the crash, it was retail bankers who sold mortgages to people who they knew couldn't afford them.

Thirdly, speculation on food prices is a good thing.  If supplies of a foodstuff are going to decrease in the near future then increasing the price (thus lowering demand)and storing more for the future means that when the shortage does come then the supply of said foodstuff is better.

If you don't save for the proverbial rainy day then you are going to experience biblical feast and famine which is worse.

Fourthly, why make a villain out of Bob Diamond?

Barclays was the only British bank that took no money from the government.  Therefore, Mr. Diamond's bonus has nothing to do with Government Welfare payments AT ALL.

You are just using hyperbole to create outrage.

I was hoping that this may make it past Ritchie's stringent comments moderation but it took him less than five minutes to permanently delete it.  I am not really surprised and neither was Benzs who had the following to say:

You can't use sound economics arguments against Ritchie...

I wasn't the only person to spot Ritchie's hypocrisy, as ever the master of pointing out Ritchie's stupidity, Tim Worstall, takes Ritchie apart more succinctly than I ever can.