Friday, June 28, 2013

Trotter's Windmill

Some time ago, I promised I would read Gordon Dryden's Out of the Red, after Chris Trotter waved it about as an example of the lost art of journalism. I've only read about a third of it so far. For example, I haven't yet got to the part where my old man tells Norm Kirk to lose five stone weight in order to improve Labour's chances of winning the election.

However, Trotter is still harping on about the Greens dropping Quantitative Easing as we type. In the hope of getting him to stop plucking at this particular spent thread, here's what Gordon Dryden had to say about printing money (pg. 80):
"In our post-election interview almost a year earlier Mr Muldoon had listed West German Chancellor Helmut Schmidt as the world leader he most admired. Schmidt's well up on my list too. And the German leader had said just a few weeks earlier that the major cause of inflation in the world was the overwhelming majority of countries printing extra money that was unmatched by increases in goods and services."

Trotter's tilting at windmills if he thinks there's a snowball's chance to resurrect any lift for QE.That dirigible has crashed. Any chance Sancho Bradbury can pull the Don from that wreckage?