Man in a Shed: The Glasgow Rangers fiasco

Tuesday, July 17, 2012

The Glasgow Rangers fiasco

So what we've learnt is that Scottish football is willing to cut off its nose to spite its face.

The animosity, some of it sectarian, is a wonder to behold. As a result Scottish football will be robbed of a large amount of income and the world looks on in wonder.

Alex Salmond has a problem here also. What if the only thing Scots can agree on is that Westminster and the evil English are the glue that holds Scotland together ? If they can't run a football league without letting petty jealousies and vindictive revenge , what can they run ?

( In fairness the same question can be levelled at the civil service down here as the omni-shamles comes to 2012 .)

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The pound in your pocket

"We used to think that you could spend your way out of a recession and increase employment by cutting taxes and boosting government spending. I tell you in all candour that that option no longer exists." James Callaghan

“The trouble with theoretical economists is that they don't understand that when you have a deficit, you can only finance it by borrowing, and you've got to persuade people that it's worth lending money to you and that they'll get their money back... there's no way of escaping it.” Dennis Healey during the 1976 Stirling Crisis.

"Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens ... Lenin was certainly right. There is no subtler, no surer means of over-turning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose." John Maynard Keynes, 1920.

"To preserve [the people's] independence, we must not let our rulers load us with perpetual debt. We must make our selection between economy and liberty, or profusion and servitude." Thomas Jefferson, President of the United States of America,1801-1809.

Inflation is taxation without legislation .. Milton Friedman