Political Opinions and Politics is like Mixing Oil with Water

The first, (or was it the 30th?) thing I learned about the markets is never ever listen to somebody on a political soap box espousing any philosophy. Politics, especially today, would cloud the thinking of Einstein (E=MC3 or 4 would have been the result) or Aristotle. And so it is today with the rambling rants of "Mad Bull" Larry Kudlow who always sees that bull someplace somewhere being matched with the ultra Lefties are morons possessed with the "haunting fear that someone, somewhere, may be happy." making money without help from Washington. (H.L. Mencken via Paul Kedrosky via Slate)

It's hard to escape the sense that the current inflation fear-mongering is partly political, coming largely from economists who had no problem with deficits caused by tax cuts but suddenly became fiscal scolds when the government started spending money to rescue the economy. And their goal seems to be to bully the Obama administration into abandoning those rescue efforts." (Krugman in Slate)
The pissing contest is at Slate for a very informative read, but bottom line is the old password for the Markets: Greed.

1 comment:

Roux said...

Krugman and AlGore continue to show the worthlessness of a Nobel Prize.