Saturday, May 29, 2010

The wisdom (or otherwise) of Richard Murphy

Doing business, the Richard Murphy way.

Truly, Richard Murphy scales new heights of rampant stupidity and shows every statist moron the way to Utopia—has there ever been such a blind, ignorant, wilfully destructive man as this retired tax accountant?

Timmy points me to one of the great man's latest witterings—a particularly egregious extract from a severely deluded post...
Until multinational corporations are required to have non-execs from outside business they will not be brought to account.

And don’t argue the skills aren’t possible. We run governments on this basis - and it does work.

Right. So Richard Murphy thinks that we should run our businesses like we run our governments run themselves, does he? And Ritchie thinks that this will lead to more stable businesses and better finances...

Are you absolutely fucking insane, Murphy? Have you not noticed what's been going on recently, you utter, utter prick?

So, you think that businesses should be run on the Greek model, do you? Or maybe on the same basis as Gordon Brown ran our own economy, i.e. into the fucking ground.

This is a man who criticises the banks for taking on massive amounts of dodgy debt—piles of it are probably from the bloody, basically bankrupt governments of the Western world.

It has been an unedifying spectacle watching these clueless, social democratic governments slamming the banks for irresponsible borrowing and lending, for dodgy financial practices and dodgier balance sheets whilst it seems to me that the banks were simply following the governments' example.

Banks in Europe, most of which are holding billions of Euros worth of debt from European governments, are now under severe threat of collapse again—a crisis caused by the utterly irresponsible policies of the governments of the Eurozone countries—most notably Greece, Spain, Italy and Portugal.

The only thing that is keeping these countries afloat is massive bail-outs from the nations whose finances are not completely fucked (but which are, nonetheless, still racking up debt at an eye-watering rate—our own government, for example, is still borrowing at the rate of £0.5 billion per day).

The governments of these countries have borrowed without regard for ability to repay; when crisis has hit, they have shown no willingness or ability to stop spending like drunken sailors in port; and their irresponsibility is on the verge of collapsing the banking system (again).

One has the suspicion that the main reason that our governments bailed out the banks is because those institutions were the only ones big and stupid enough to continue buying government debt. If the banks collapsed, who would buy the gilds and bonds that enable the state to keep on spending money like it is water?

And this, ladies and gentlemen, is how Richard Murphy wants all businesses to run. So, dear readers, you decide...

Is Richard Murphy insane or is he just so stupid that he can barely tie his own shoe-laces?

4 comments:

Morlock said...

Wasted opportunity, DK.

You could have used this post to highlight LPUK's monetary reform policies, or those of the Cobden Centre that have recently garnered support from Douglas Carswell and Daniel Hannan.

Instead, you choose to merely bolster your chum Timmy's obsessive one-man campaign against Richard Murphy; bringing nothing new or positive to the debate <rolls eyes>.

Jock Coats said...

Dammit - I was going to blog about that post by Murphy too :=) I was going to argue actually that we should run our governments (if we have them, natch) like we do businesses with shareholders getting to sack incompetents at EGMs :-)

Pogo said...

... they have shown no willingness or ability to stop spending like drunken sailors in port

I saw a lovely comment from a retired Lt Commander recently, saying something along the lines of - "I think that it's apalling that you should compare governments to drunk sailors on payoff night! In my younger days I too was a drunk sailor, but when we ran out of money we stopped spending!".

Steveco said...

Having followed Timmy's fisking of his drivel for some time, I've come the conclusion that, intellectually speaking, Ritchie is bringing a fart to a shit fight.