Should right-wingers hail Lindsay Lohan tweet?


5:39 pm - July 3rd 2011

by Sunny Hundal    


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The editor of the Spectator magazine Fraser Nelson tweeted last week

RT@lindsaylohan: Have you seen food and gas prices lately? US$ will soon be worthless if Fed keeps printing money! >> We need her on the MPC

He then added:

I get better economic analysis from Lynsday Lohan than I do from the Scottish Parliament!

And then:

@lindsaylohan makes more sense on economics than @edballsmp. Mind you, same is true for most people on Twitter.

He was followed by right-wing blogger Paul Staines last week who shrieked with joy that a personality with such a economic credibility was endorsing their position.

He fawned on his blog:

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

Not so quick boys.

I know you get excited easily, but you should have paid more attention to the ‘#ad’ hashtag on that tweet.

MSNBC presenter Lawrence O’Donnell last week explained why she tweeted that: it was paid for by the National Inflation Association, a group that “pumps up tiny unknown stocks that deal with gold and silver.”

See the video

Maybe Lindsay Lohan does know more than economists like Danny Blanchflower. But I highly doubt it.

Update: This blogger has more info debunking the NIA.

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About the author
Sunny Hundal is editor of LC. Also: on Twitter, at Pickled Politics and Guardian CIF.
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Reader comments


Lindsay Lohan has plenty in common with the right. Rich despite minimal talent but still steals stuff. Cameron is well along her path to notoriety, his policies look like they were created by a substance abuser and he’s got George Osborne every time he wants to show a neatly shaved c***.

@1

Hilarious comment.

For people who think CBs are creating inflation, I urge you to read these:

http://www.debtdeflation.com/blogs/2011/06/11/dude-where%E2%80%99s-my-recovery/

http://www.debtdeflation.com/blogs/2009/01/31/therovingcavaliersofcredit/

Be more wrong about the economy, libertarians.

3. Richard W

Their economic illiteracy knows no limits. Assuming they still hero worship the left wing radical Milton Friedman and have not moved completely to the realms of crankery.

Friedman on what Japan should have been doing in 2000.

” David Laidler: Many commentators are claiming that, in Japan, with short interest rates essentially at zero, monetary policy is as expansionary as it can get, but has had no stimulative effect on the economy. Do you have a view on this issue?

Milton Friedman: Yes, indeed. As far as Japan is concerned, the situation is very clear. And it’s a good example. I’m glad you brought it up, because it shows how unreliable interest rates can be as an indicator of appropriate monetary policy. ”

” Monetary growth has been too low. Now, the Bank of Japan’s argument is, “Oh well, we’ve got the interest rate down to zero; what more can we do?”

It’s very simple. They can buy long-term government securities, and they can keep buying them and providing high-powered money until the high powered money starts getting the economy in an expansion. What Japan needs is a more expansive domestic monetary policy.

The Japanese bank has supposedly had, until very recently, a zero interest rate policy. Yet that zero interest rate policy was evidence of an extremely tight monetary policy. Essentially, you had deflation. The real interest rate was positive; it was not negative. What you needed in Japan was more liquidity. ”

QE is pure monetarism. Paul Staines and Fraser Nelson vs Milton Friedman. As someone once said you could not make it up.

http://delong.typepad.com/sdj/2010/11/milton-friedman-suppors-ben-bernanke-on-qe.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+BradDelongsSemi-dailyJournal+%28Brad+DeLong

As Scott Sumner says, Hayek would have agreed because QE stabilises nominal income and nominal income falling is always bad.
http://www.themoneyillusion.com/?p=7971

The British Chambers of Commerce another bunch of left wingers.
http://www.scotsman.com/economics/Start-printing-money-again-business.6703435.jp

QE is not ideal and targeting NGDP growth is better. However, it does not do what those two think it does. Scott Sumner had a paper published on targeting NGDP growth on that other bastion of lefties the Adam Smith Institute. Possibly all the aforementioned are too lefty for our intrepid pair.

4. Richard W
5. blackwillow1

Lindsay Lohan is a professional muppet, I doubt very much wether she has a political or economic opinion of her own. Bearing in mind her problems with drugs and alcohol, plus the state of her mental health, is this possibly a case of a vulnerable person being exploited for political gain? Then again, if you’re dumb enough to look to a fucked-up junkie for guidance on heavywieght issues such as the economy, you probably need some professional help yourself. As for this NIA group, they seem to be just another bunch trying to promote their own agenda, by any means. Nothing new there.


Reactions: Twitter, blogs
  1. Liberal Conspiracy

    Should right-wingers be praising Lindsay Lohan tweet? http://bit.ly/iWXNW8

  2. MerseyMal

    Should right-wingers be praising Lindsay Lohan tweet? http://bit.ly/iWXNW8

  3. Jeevan Rai

    Should right-wingers be praising Lindsay Lohan tweet? http://bit.ly/iWXNW8

  4. sunny hundal

    Funny but true: were @frasernels and @guidofawkes justified in praising Lindsay Lohan's on the economy? http://bit.ly/iWXNW8

  5. Peter Lyon

    Should right-wingers be praising Lindsay Lohan tweet? http://bit.ly/iWXNW8

  6. Soph Higgins

    RE Lindsay Lohan/Nelson/Staines thing, it's an article on LibCon: http://bit.ly/jaTdGk #headdesk

  7. George Readings

    Should right-wingers hail Lindsay Lohan tweet? | Liberal Conspiracy http://t.co/88QpGGw via @libcon

  8. Jonathan Davis

    Should right-wingers be praising Lindsay Lohan tweet? http://bit.ly/iWXNW8

  9. IdealA2

    Funny but true: were @frasernels and @guidofawkes justified in praising Lindsay Lohan's on the economy? http://bit.ly/iWXNW8

  10. JonNewX

    @GuidoFawkes That's put you in your place http://t.co/EX0dqcl

  11. Richard Blogger

    Should right-wingers be praising Lindsay Lohan tweet? http://bit.ly/iWXNW8

  12. John Nor

    #WTF #Spam news: @frasernels and @guidofawkes get all excited over spam-tweets from, err Lindsay Lohan http://t.co/NOB4HXY via @sunny_hundal

  13. Chris Page

    RT @libcon Lindsay Lohan & market fundamentalist fail tweet? http://bit.ly/iWXNW8

  14. sunny hundal

    Last week UK right-wingers were praising Lindsay Lohan (yes, that one) on the economy. But they got punk'd too http://bit.ly/iWXNW8

  15. LEE NICHOLSON

    Last week UK right-wingers were praising Lindsay Lohan (yes, that one) on the economy. But they got punk'd too http://bit.ly/iWXNW8

  16. Alison Charlton

    I'll tweet it for $50*. Lindsay Lohan, Spam Girl http://t.co/vATZKQv via @libcon *ad

  17. Derek Bryant

    Last week UK right-wingers were praising Lindsay Lohan (yes, that one) on the economy. But they got punk'd too http://bit.ly/iWXNW8

  18. Derek Bryant

    Last week UK right-wingers were praising Lindsay Lohan (yes, that one) on the economy. But they got punk'd too http://bit.ly/iWXNW8

  19. Web Lassie

    Should right-wingers hail Lindsay Lohan tweet? | Liberal Conspiracy http://tinyurl.com/3keez48

  20. Rep in the Region

    Last week UK right-wingers were praising Lindsay Lohan (yes, that one) on the economy. But they got punk'd too http://bit.ly/iWXNW8





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