Newsnight 26th May: Hugh Hendry 'I would recommend you panic'

http://www.the-daily-politics.com/home/38-editorial/1595-newsnight-26th-may-h...

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News & Politics

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• Newsnight 26th May
• Hugh Hendry

[hellevonequities]

Hugh Hendry abandons free-market principles at the end when he calls for more regulation by politicians on the banks. Sachs, the blue-blooded elitist squirms gleefully.

[hellevonequities]

Jeffrey Sachs looks like a do-gooding busy bodied creep.

[ericobarrett]

god forbid Greece repaid it´s debt, the idea is that they just "service" it for n periods.

[vcdrob]

I don't think anyone could say it better; nor could it be a more ignored fact: "I recommend you panic."

For those of you absorbed by your material worlds, prepare for a quick end to the Great Complacency.

[diggyisking]

Omg Jeffrey Sachs you are the biggest **** that I know. People like you are exactly what is wrong with the world and who cause the worlds problems.

If there was a video game where i could punch a character that looks like you in the face all day I would!

[CurtHowland]

@hellevonequities I'm sure Hendry just thinks government can still "do good" if only the right regulations were in place or the right people in charge, or the right Constitution written.

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Actual anarchists who understand that evil means (coercion) cannot be used for, and are not justified by, good ends, are rare indeed.

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Tolkien summed it up well: "Yet the way of the Ring to my heart is by pity, pity for weakness and the desire for strength to do good."

[CurtHowland]

Sachs is such a perfect example of a politician.

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Keep in mind he's touted as an "expert", a professor and advisor to central banks and the IMF.

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So if things are messed up, this is one of the guys DIRECTLY RESPONSIBLE. He's avoiding the facts in order to save HIS OWN NECK!

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I'd love to own one of those voice stress meters, I'm sure it would be going nuts every time Sachs talks.

[CurtHowland]

@rayme4raw "The people" know that the crap is striking the impeller, while these psychopaths try to string the common men along long enough to rob them of everything.

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What is "government debt" other than promises of future tax revenues? It's all blood money. Yours, mine, not theirs.

[rayme4raw]

Jeffrey Sachs is a wonderful psychopath. The people will panic long before the government by buying gold and silver. Did the german people riot when they found out that their government would bailout Greece, No, they went out and bought gold.

[myopicrhino]

@atrickpay11 (2/2) But if it doesn't also include removing all the government backstops, the moral hazard brings the system to its knees and the economically ignorant general public blames the free market and begs for more regulation.

[myopicrhino]

@atrickpay11 (1/2) I think it's a complex issue. As Mises said, government intervention tends to create problems that lead to further government intervention. I believe the solution is to eliminate all government intervention, but it's not so clear to me what the road to that looks like - short of a total collapse. If bank leverage limits are removed, for example, we should cheer that as pro-free market, right?

[atrickpay11]

@myopicrhino right...but the question is then, is that gov't regulation in the transition to a free-market actually helpful? My hunch (and I could be wrong) is that gov't regulation always makes things worse off.