tag:blogger.com,1999:blog-22974616.post8876287295682011091..comments2023-10-02T14:33:18.136+01:00Comments on The Very Fluffy Diary of Millennium Dome, Elephant: Day 3670: "An extremely simplistic and partisan economics lesson"Millennium Domehttp://www.blogger.com/profile/08430269096817934037noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-22974616.post-88298132938586929512011-01-21T18:34:43.931+00:002011-01-21T18:34:43.931+00:00Dear Mr Gladstone,
I think that there is a "...Dear Mr Gladstone,<br /><br />I think that there is a "History of the World in 100 Objects" about that!<br /><br />Though to be honest, I am just AMAZED that anyone managed to read that diary all the way through!Millennium Domehttps://www.blogger.com/profile/08430269096817934037noreply@blogger.comtag:blogger.com,1999:blog-22974616.post-33504037131623252102011-01-21T13:57:13.448+00:002011-01-21T13:57:13.448+00:00There is NO school of economics – not classical, n...<i>There is NO school of economics – not classical, not Keynesian, not monetarist, not laissez-faire, not voodoo Reganomics – that subscribes to the theory that you can run a deficit forever.</i><br /><br />There was one that said a king could borrow as much money as he wanted and never pay it back. The king involved was Philip II of Spain.<br /><br />Of course, the reason he didn't pay it back was that he borrowed it from Jews and then told the Spanish Inquisition to go and surprise them when they asked for their money back.<br /><br />He still ended up defaulting four times. In spite of all the gold and silver mines in America (no, not Americaland, the other bit) that his conquistadors had taken over for him - so much gold and silver that importing it was causing inflation right across Europe.Richard Gadsdenhttps://www.blogger.com/profile/10545595590359552775noreply@blogger.com