What has happened to The Times?

You read insanity like this and wonder. He claims to be a "non-socialist economist". I'd hate to see what a socialist economist comes up with that is worse that state confiscation of private individual savings. Kaletsky has been wobbling for quite some time and has finally wobbled Left into a deep hole.

The comments to the article sum it up nicely. People like Kaletsky are the reason why I despise people who blindly trust 'experts' to solve all their problems.

Two things, thankfully, which will work against any efforts by the state to do this:

One, the power of the elderly voting block. These people rely on savings to supplement the pensions that Brown destroyed in 1997. Labour would be massacred by the grey vote at a general election if they tried this.

Two, I and everyone else who isn't a cretin will be straight down to the bank if even a whif of this comes out of the Treasury. I will draw out my money with everyone else and f*ck the banking system.

Update:

One further comment - as far as I know, the British government didn't confiscate private savings even in 1940, when we faced the greatest crisis in our history. Yet Anatole "I'm a non-socialist economist" Kaletsky wants our very own lite version of War Communism applied because Woolworths and sundry other over-extended retailers have gone bust.

That little pop you heard was the last, tiny remnants of this man's credibility disappearing. He's only there for giggles now.