Wednesday, September 22, 2010

Fools and their money

Krugman has an interesting thought today:

Suppose you had spent the last five years actually believing what you read from the usual suspects — the WSJ opinion pages, National Review, right-wing economists, etc.. Here’s what would have happened:

In 2006 you would have believed that there was no housing bubble.

In 2007 you would have believed that the troubles of subprime couldn’t possibly spread to the financial system as a whole.

In 2008 you would have believed that we weren’t in a recession — and that the failure of Lehman was unlikely to have bad consequences for the real economy.

In 2009 you would have believed that high inflation was just around the corner.

At the beginning of 2010 you would have believed that sky-high interest rates were just around the corner.

Now, we all make mistakes and get things wrong — after this string of errors, wouldn’t you at least begin to suspect that the people you find congenial have a fundamentally wrong-headed view of how the world works?

Tom Degan has an excellent rant today. Hold your nose when you vote this year, but VOTE.

Once upon a time I was so disgusted with the two candidates for Mayor I stayed home on election night. I don't know if the guy who wasn't elected would have been better than the idiot who was, but what I learned was that they had played me for a patsy. They shut me up until the next election. You can't effectively complain about the government if you didn't vote. Hate negative advertisements, that's what they want. They want fifty to sixty percent of the electorate to stay home.

I vote in every election. That is what gives the right to call the Reptilian party thugs and thieves. I didn't vote for them. It gives me the right to criticize the spineless dims for folding every time the reptilians fillibuster. I voted for them. I'm not happy, but I will vote for the lesser of two evils than give the keys to the nation's economy back to the crooks that pillaged it for the last thirty years.

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