Thursday, February 25, 2010

The mandatory Darius Guppy post

Now, I see Guppy has been in The Telegraph. The thing is, um... that is... eyes feel heavy... I ...


Hmmm? What? Ah. Sorry. I must have dozed off and fallen face first into the keyboard.

© P. J. O'Rourke


Tim Worstall said...

It was amusing seeing him discover fractional reserve banking really. All that "not mentioned anywhere" when it's part of every textbook and appears in the A level syllabus.

Peter Risdon said...

I only glanced at his piece, but yes it was very funny. Unless I skimmed too fast, he seemed to completely misunderstand this fiendishly hidden banking system. Banks can lend £90 for every £10 on deposit? Um... only out by a complete order of magnitude there, Darren.