Tuesday, 12 April 2016

What a load of Cobblers

Here, I quote:

"IMF Report: Brexit risks 'severe and permanent damage' to the world economy."

That really is the most stupid headline I have read for a long time. Patently it is absolute nonsense.

Did the 1930's depression create 'severe and permanent damage to the world economy'? No.

Did the rampant inflation of the Weimar Republic and (arguably) the consequential rise of Hitler create 'severe and permanent damage to the world economy'? No.

Did WW2 create 'severe and permanent damage to the world economy'? No.

Did the collapse of the Soviet Empire create 'severe and permanent damage to the world economy'? No.

Did the American Revolution (and its 'AMEXIT' from the first British Empire) create 'severe and permanent damage to the world economy'? No. In fact arguably the exact reverse. AMEXIT, together with implementing the recommendations of The Wealth of Nations (published at the same time - 1776), laissez faire and the repeal the Corn Laws ushering in an extended period of free trade, set the world on the greatest period of wealth creation (for everyone) in history, so far.

The IMF are liars. End of.

9 comments:

ageing man said...

The IMF should stick to what they know best, helping infertile couples have children....

The Stigler said...

Spot on.

It's also like when people talk about "10 days to save the NHS", like whatever a government did couldn't be undone by the next.

Mark Wadsworth said...

@ AM, I know they shut down their furniture stores a few years back, I forgot about the fertility treatments.

L, thanks, I couldn't be bothered skewering that article.

Some of the things you mentioned didn't even create "severe" damage to the "world economy", either they were positive, or the damage was localised.

DBC Reed said...

Don't care whether the damage is just temporary; I don't want to have to live through it on top of all the crap the British ruling class has come up with already. With the power surge of Brexit they will be absolutely uncontrollable, boosting land and house price inflation to ever more glorious heights.
Daniel Hannan, eyes popping with the certainty of the truly autistic, was quivering on Newsnight last night saying that after two years of Brexit there would be no change whatsoever .There we go then!That would be worth it.
@L Some of the things you talk about have become permanent. The Americans urge to liberate people from "Imperialism" has lately caused them to arm jihadis in Afghanistan to attack the Russians only for them to disrupt the Middle East, sending pitiful hordes of refugees fleeing for their lives while in the West they dumped the liberated (from Communism)Baltic states on the EU , causing massive problems with their cheap labour which, in the joyous spirit of Adam Smith British business has fallen on in an orgy of "whats the problem?" exploitation.
Don't keep dragging Adam Smith into it: the loony ruling class is entirely incapable of coping with his demands for LVT without which all his ideas just cause land prices to go up forever or till the next Economic Crash.

Bayard said...

"The Americans urge to liberate people from "Imperialism" has lately caused them to arm jihadis in Afghanistan to attack the Russians only for them to disrupt the Middle East...,"

That should be "The Americans urge to "liberate" people from "Imperialism"" America has, since the C19th, been an imperial state. The Japanese didn't attack Pearl Harbour for the hell of it, they did it because the USA's Pacific empire was threatening theirs. The Americans want to "liberate" peoples from other empires so that they can be brought into the empire of the USA. However, that is quite separate from any of Lola's examples (postdating independence and predating WW2).

Lola said...

B agreed. DBCR, Agreed to parts of that.

Mark Wadsworth said...

DBC, you are way off topic. I refer you to B and L's comments.

Robin Smith said...

And what you say is also "just your opinion". Ideological opinion.

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