Getting the correct perspective.

Over on Takimag.com, Tim Worstall has an insight it would do us all good to absorb.
Basically he argues that economists ( step forward your humble servant) start from a premise that their panaceas will be given effect by the politicians. He is referring to perhaps the foremost economist of today, Paul Krugman, who keeps telling the politicians what to do and then being astonished when they screw it up.
Worstall argues that the right way round is to assume that politicians " are indeed lying weasel felchers " and then a whole lot more makes sense and you have to understand "the slime and the mold that ... plans depend upon for implementation. ( Krugman) actually thinks that politicians are trying to do the right thing."
What politicians are trying to do is get re-elected. Between times, they screw things up. If they would only leave us alone....
One of Krugman's insights is that giving a group of people in an area extra money for their work will lead to better employees and better productivity. Giving everyone in the same area more money leads to absolutely nothing. To a certain extent, the minimum wage here in the UK and annual wage increases has led to little or no betterment of the quality of the workforce, nor of any productivity increases over time.
PS. Don't, under any circumstances, look up the meaning of felchers...

A load of Merchant Bankers....

I was taken with the statements from the various parties to do with bonuses at the Banks:
George Osborne: Banks should not misuse taxpayer support.
Vince Cable: The FSA needs to show real teeth.
Harriet Harm any man around:WE NEED MORE WOMEN BANKERS!
Not entirely sure what that would achieve, but as you know a Merchant Banker is a pejorative term for someone who is an idiot.
The other one I like is a LOMBARD: lots of money but a right Dick....

Taxi!

Taxi drivers always have an opinion, and one of our neigbours is no exception.
I was just returning from walking the dog when he hailed me and asked what I thought of the "bloody carry-on" over expenses.
I remarked that most of it was down to pure stupidity in the Commons expense office. After all, if they don't need to produce a receipt, how would they know the mortgage was paid off?
His take on it was illuminating.
Most of us regard all politicians as greedy conniving b******s, he said, but what this lot have done is piss on their constituents.
I don't mind so much them getting plasma TVs and the like, but I really object to the mortgage payments -tax free - for nothing.
If they want my respect back they will have to earn it. Get an accounting firm to audit every receipt. Bar any claim from the past or future without one. Lock up anyone who has committed fraud or stolen. Make them all seek reselection.
And call a general election.
I couldn't agree more. The only real problem - and it's a really real problem - is that in a court of law they will only need to say the money I took was approved by the body in charge. If it's approved it's automatically neither fraud nor theft.
So let's hope Harman's "Court of Public Opinion" does the needful.
He finished with a fine Glasgow expression.
" Aye, they need the Polis tae gie them aw' a sare kiss"*
*
Translation: they need a doing in Police custody.

Politicians?

I have some Irish friends staying at the moment, which means the tea consumption has gone through the roof, along with the cake, potato and cream.

I parked briefly behind a car to undertake a small commission, and when I returned my friend said:
" Do you think that's directed at all politicians?"
He was referring to the number plate which started L I B 1234.
Underneath, in the small space where usually there is an advert for the car selling company, the owner had had printed
" Lazy Ignorant Bastards, the lot of them!"