Category Archives: economic illiteracy

The moral and intellectual idiocy of Jeremy Corbyn

England faces another civil war

Dalrymple points out that the next British government might easily be formed by an admirer of Hugo Chávez, on the occasion of whose death Jeremy Corbyn stated: ‘Thanks Hugo for showing that the poor matter and wealth can be shared. He made massive contributions to Venezuela & a very wide world.’

Anyone who considers a man like Chávez worthy of admiration will not, says Dalrymple,

be alarmed—rather, the reverse—by any gulf in society that his ignorant economic policies will produce, a gulf far exceeding any within living memory.

Moreover,

his most fervent support comes from people so wedded to their own Original Virtue that they feel they are properly the arbiters of what may and may not be said and are therefore justified in resorting to violence to enforce their prohibitions.

Dalrymple warns:

One of the problems of this, apart from its sheer moral and intellectual idiocy, is that it will eventually call forth equal and opposite violence.

The sage of CMC Markets

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Michael Hewson: han är respekterad för sina öppna och direkta åsikter om vad som händer på marknaden

Dalrymple realises how foolishly he has frittered away so much of his time when he reads the following statement by Michael Hewson of CMC Markets:

Having had a couple of days to absorb the details of the new Greece debt deal, equity markets have continued to remain upbeat, despite the fact that the proposal is economically illiterate and probably doomed to fail.

Dalrymple comments:

Economically illiterate and only probably doomed to fail? In other words, the link between economic literacy on the one hand and success or failure on the other is uncertain at best. Economically illiterate but possibly will succeed? Economically literate but possibly will fail? Mr Hewson of CMC Markets clearly doesn’t want to put all his eggs in one predictive basket. Therefore I say, throw economics to the dogs.