Shorter Tim, Energy Edition: Commodity prices always come down in the end; except when I really want the price of steel to stay at 2007 levels because it harms the economics of wind power. Further, supply of manufactured goods always responds to price signals except when I have a bizarre ideological opposition to some particular…
Read More Bonus Tim Worstall Stupidity WatchWe’ve blogged before about the NHS’s computer project. So I’m not at all happy about this remarkably silly post at Timmeh’s. He takes issue with a post of Richard Murphy’s about bank nationalisation: Yup, the people who brought you the NHS Spine are to be put in charge of developing all banking software in Britain.…
Read More is there anything stupid going on at Tim Worstall’s?The Daily Mash is still making more sense about the economic crisis than the entire global conservative movement. ECONOMISTS WARN OF BILLY BRAGG: Professor Bill McKay, of University College London, said: “The core economic purpose of any Labour government is to prevent Billy Bragg. “If, as it appears, we are returning to a cycle of…
Read More Meet our intellectual mastersWhilst we’re at it; watch Tim Worstall claim that the banks don’t have any mortgage-backed securities on their books. Indeed, Tim, if you were right there would be no reason to nationalise them; but then, we wouldn’t be in this mess. As Molotov said to Ribbentrop, so if the British are finished, why are we…
Read More From the pony to the spherical cowCameron today outlined his plans for economic responsibility to replace “irresponsible capitalism and irresponsible government” under Labour. He began his attack by accusing the prime minister of basing his financial decisions on “false assumptions” that he said had left the economy in ruins. Among them were the ideas that a successful economy could be built…
Read More Attack Of The CamorsetSo, if World President Brown was to ask me what to do about the headless Viktor Bout empire, and the operators like it, what would I say? Here’s what I’d do: Let’s draw up a big list of dodgy airlines. Better, let’s use rules; ex-Soviet aircraft, or old 737s, based in the UAE, registration in…
Read More Operation Firedump – the great rampcheckMobile phone wars. Georgians complain they can’t get American submarine cable engineers to come back, for fear. And they sue. The Administrative Panel of the Tbilisi City Court has rejected an appeal filed by Russian cellco MegaFon against fines imposed by the Georgian National Communications Commission (GNCC) for unlicensed use of radio frequency spectrum within…
Read More GSM Warlord, againOK, so what about those identity cards for (some kinds of) foreign nationals? You’ll recall that the Government promised, back in the spring, to have them out and operational in 300 days. As late as July, there were no actual contracts for the job, but they did actually manage to bring in Thales to start…
Read More if you’re not on the list you’re not coming inthink I’ve said before that I find public sector accounts incredibly weird. Here’s a great example; it’s a very good FT story on the bank nationalisation plan and how it affects the national finances. Bizarrely, the £25-50bn of government bond issuance required to raise the money probably won’t count towards the public sector net cash…
Read More HOWTO: remove giant statue of Sir Fred GoodwinI am beginning to think I was a little harsh on Simon Heffer yesterday. After all, it’s got to be tough; not only has the entire structure of policies, assumptions, and style he’s devoted his entire working life to just been demonstrated to be utter drivel, but who else is even trying? Seriously. I’m sure…
Read More missing: 198 middle-aged men