Corbynistas Board Outrage Bus Over Toby Young Appointment

It seems the way to virtue signal that you are a Tory-hating lefty in 2018 is to jump on the outrage bus about Toby Young’s appointment to the Office for Students board. Some of the abuse and whinging from Corbynistas upset that someone with right-of-centre views has got the job is just unhinged. Paul Mason for example is claiming Toby “despises working class kids”. Not a great attack line given he has helped set up four state schools educating 2,000 children, with more than a third at his secondary school eligible for the pupil premium. What has Paul Mason done to help working class kids?

The next moan is that Toby isn’t qualified for the job and that he is unsuitable because he is of the right. Danny Blanchflower, the economist who always gets everything wrong, has even suggested universities should refuse to have anything to do with the Office for Students until he is fired. Guido supposes he is entirely unqualified apart from having worked at Harvard and Cambridge, being a visiting fellow of the University of Buckingham, a Fulbright Commissioner, co-founder of four free schools and director of the New Schools Network.

And as for being political, lefty tweeters don’t seem to have a problem with the chair of the Office for Students Michael Barber being a former adviser to the last Labour government. Quangos are stuffed with lefties and Labour supporters across the board, it is just hypocritical for them to oppose a mainstream centre-right educationalist taking a position. Philip Blond makes a sensible point:


Almost as if it’s all faux outrage just so Owen Jones, Paul Mason et al can get some retweets…

Blanchflower on Wage Cap

“If I was still an adviser I would have told him it’s a totally idiotic unworkable idea.”

McDonnell Adviser Savages “Silly” Corbyn

Guido readers will know derpy Danny Blanchflower as the economist whose predictions are reliably wrong. Well, for the first time Guido can remember, Blanchflower may have a point. He is currently advising John McDonnell on Labour’s economic policy, and has written a scathing attack on Corbyn and his team in the New Statesman:

“These are early days and the new Labour Party still doesn’t have many economic policies to speak of. The problem is that opposition to austerity on its own is not enough. It is time to start thinking about how Labour can become a credible opposition – and that requires getting real about the economy.

The new Labour leaders are not economists and are going to have to learn fast. They will have to accept the realities of capitalism and modern markets, like it or not. No more silly stuff about companies not being able to pay dividends if they don’t do X or Y. If companies are not allowed to pay dividends, share prices will potentially rise instead. If you raise corporate taxes too high, companies may move to Ireland or elsewhere, where they are lower.”

This is a direct attack on Corbyn’s new policy to ban businesses from distributing dividends unless they agree to certain rules on pay. And an attack on McDonnell’s desire to hike corporation tax. If Labour’s top team are too out there for Danny…

Blanchflower Gets It Wrong Again

Guido readers will be greatly tickled to learn that David Blanchflower (above right), he of the hapless economic forecasts, has been appointed to Corbyn’s new team of economic advisers. Yet derpy David hasn’t always been a fan of Jezza…

Earlier this month, Blanchflower successfully secured an apology from the BBC for saying he supported Corbyn, insisting: “I made clear I wasn’t backing Corbynomics“.

Fed up with people accusing him of backing Jezza, Blanchflower spelled it out in City AM: “I am not a Corbyn supporter and don’t share many of his views“.

He said he was opposed to Corbyn’s flagship economic policy of ‘People’s QE’.

And he even described claims he supports Corbyn as “ridiculous“.

“How much clearer can I be”, moaned Blanchflower when he was accused of being “pro-Corbyn“.

Weeks later Jeremy Corbyn announces his new economics adviser: David Blanchflower. Guido knows David has had trouble predicting the future before, though surely he should have seen this one coming?

Danny Blanchflower Does it Again

Guido has in the past reflected with some scepticism on Danny Blanchflower’s economic forecasting.

There’s been an election and we have a new government, so it’s only fair to offer him fresh start and a chance to prove us wrong.

Last month derpy Danny wrote in the Indy that, despite wage rises in the previous two months, “Chances are next month we will see a big drop again. I will keep you posted”.

Well?

This month’s figures out today show that “Comparing February to April 2015 with a year earlier, pay for employees in Great Britain increased by 2.7% both including and excluding bonuses”. Here is the continuing rise in wages in graph form from the ONS:

Keep us posted, Danny…

Danny’s Balls

dannys-ball-forecasts2

Guido has in the past reflected on the accuracy of Danny Blanchflower’s economic forecasting. How have his more recent forecasts of doom and gloom fared?

“Pay is going nowhere,” said the sage of Dartmouth last month, warning “we won’t see real wage growth until 2016 at the earliest”. Dopey Danny was following up on his June prediction that there is little likelihood of real wage growth rising in the months ahead”. He also made the same warning in May“I wish the MPC good luck with their forecast that real wages are set to rise in the second half of 2014”.

Lo and behold, today’s ONS data shows that “average earnings are now definitely rising”. He really should throw away his crystal ball…

Danny Blanchflower is Wrong Again

Poor Danny Blanchflower. Gordon Brown’s favourite former appointee to the Bank of England’s Monetary Policy Committee has proved he knows as much about libel law as he does about predicting unemployment:

Unfortunately for derpy Danny, Tory MP Ben Gummer’s tweet was not libellous, because Blanchflower did say it:

blanch

Blithering fool.

Quote of the Day

David Blanchflower finally admits

“I was wrong, I hadn’t expected the economy to grow as much as it did last year or for the welcome drop in unemployment.”

Blanchflower Wrong Again

Poor Danny Blanchflower is at it again. The man that predicted three of this year’s triple dip recessions and said in May “I nearly fell over laughing when I heard Mervyn King say there’s a recovery in sight”, has turned his brilliant mind to pay. Taking to the Indy, Blanchflower has bluntly claimed: “Take if from me: wages are not going to rise much over the coming years”. Just like his predicted 5 million unemployed under Osborne, it turns out Blanchflower is wrong. Again.  According to a survey by KPMG for Markit, pay growth has hit a six year high this month

Quote of the Day

David Blanchflower concedes he got it wrong on unemployment…

“The unemployment rate ticked down to 7.6 per cent this month, much to my surprise. It’s down from 7.9 per cent when the Government took office in May 2010.”

Blanchflower’s Bizarre Rant

blanchflower

Now that he’s promised to spare us of his ill-fated predictions David Blanchflower is having to scrape the barrel for copy. Yesterday’s Indy column by Gordon’s favourite economist was just plain bizarre:

“I am aware of no pilots that were done to suggest that the Work Programme was ever going to work – this is policymaking by guessing. It’s the equivalent to introducing a drug that was not fully tested. It is the labour market equivalent of thalidomide.”

Yeah, just the same. Stay classy…

Twitter Bitch Fight of the Week: Blanchflower v the Treasury

You know you’ve lost an argument when you threaten to consult your learned friends over a minor twitter spat.

Last night David Blanchflower, Gordon Brown’s favourite former appointee to the Bank of England’s Monetary Policy Committee, had a meltdown his old friend would have been proud of:

Guido reminded Danny that, actually, he had made the unfortunate prediction:

If only…

David Blanchflower’s Terrible Tips

Whenever Gordon Brown’s favourite former appointee to the Bank of England’s Monetary Policy Committee, David Blanchflower, makes a prediction, it’s probably a safe bet to expect the exact opposite to come true. Back in 2009 the out-of-luck economist looked into his evidently faulty crystal ball and predicted that unemployment would top 5 million if the Tories came into power. As of yesterday it stands at 2.53 million and falling. David is very nearly 100% wrong – quite a wide margin of error.

He forecast that unemployment would surge past 3 million to 3.4 million in 2010. It peaked at 2.5 million in 2010.

On Tuesday Blanchflower was at it again, wagering that the new set of unemployment figures would bring bad news:

Lo and behold once again the opposite happened, with unemployment dropping by 50,000 to below 8%. Keep trying David, you might get one right eventually…

Inflation Outlook: Lindsay Lohan on Monetary Policy


Monetary policy arguments can sometimes seem other-worldly, the modern equivalent of the medieval intellectual battle over how many angels can dance on the head of a pinhead? Guido (neo-Hayekian) has been rowing with Will Straw (neo-Keynesian) for years – our latest skirmish is here. It is a difficult subject to popularise in an accessible way. Straw often cites David Blanchflower, formerly of the MPC and a favourite of Gordon Brown, to back his case. Blanchflower it was who predicted a year ago that if Chancellor Osborne didn’t undertake a £90 billion stimulus package, unemployment would hit 4 million. Osborne ignored him and unemployment is down as we undergo an expansionary fiscal contraction.

In turn Guido cites the noted American actress and legendary redhead bad-girl Lindsay Lohan. She has a manifestly clearer grasp of the inflationary dangers of quantitative easing than David Blanchflower:

Lohan’s analysis is right…

Hat-tip: Fraser Nelson

Deluded Deficit Deniers Try To Draft Gordon

Even the Guardian’s readers don’t think Brown should go to the IMF. Their poll agrees with Cameron, despite the loaded question. Most of Labour are being very quiet about the whole affair, bar a couple of comedy endorsements. Discredited campaigning “economist” turned Labour activist David Blanchflower, he of backing Balls fame, said “This is the most vindictive thing I’ve heard from a Prime Minister in 50 years. It looks to me to be extremely small-minded.” Small-minded like flogging the gold at the bottom of the market? Small-minded like borrowing and throwing money away like a sailor in a knocking shop? As small-minded as creating, then denying, a structural deficit? As vindictive as bullying and smearing your way to the top? Give it a rest David…

There are 170 billion other reasons why Gordon shouldn’t get the job, but that hasn’t stopped Alex Hilton trying to get a campaign to draft Gordon going. Though given his track record we shouldn’t have too much to worry about there.



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Quote of the Day

Tory MP Nick Boles says what everyone thinks…

“There is a timidity and lack of ambition about Mrs May’s Government which means it constantly disappoints. Time to raise your game, Prime Minister.”

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