Ritchie squiggles himself over the issue of England's dismal World cup performance:

Markets misprice: fact.

Just look at the fact that some enormously overpaid footballers have been humiliated over the last couple of weeks by a succession of teams staffed by people who are paid less.

Congratulations to all England’s opponents for pointing this fact out so graphically.

What Ritchie's trying to tell us is that paying workers less makes them work harder.

So let's apply the same logic to public sector workers and help reduce the deficit at the same time.

By the way, it's nice to see that Ritchie won't let a crisis go to waste.  The corpse of England's World Cup campaign is still warm, and he's already trying to peddle his shoddy economic dogma.

People who read this post also read:

• Quote of the day: Budget 2012, the Ritchiebollocks edition
• Ritchie is still lying about why he got banned from Oxford
• Bad news for the audit-bashers
• You filthy, filthy hypocrite!
• Ritchie got it wrong over Switzerland

Filed under: Economics, Other blogs with tags deficit, idiots, pwned, richard murphy