Tuesday, October 11, 2011
Need a new assumption
Lots of headlines this morning about how an agreement to fix Greek debt has moved "the market" upward, always with the unstated assumption that this is good for "the economy".
Come on, face facts. Everyone knows by now that "the market" has zero correlation to the real economy of goods and services.
It would be nice to see journalism based on this realistic premise, instead of constantly assuming that the Wall Street Cock Erection Index (commonly called The Dow) is the only valid measure of everything.
That mistaken assumption is a major part of our trouble, a major source of bubbles and TARP and all the other shit. That mistaken assumption enables insiders and traders to blackmail the public and the government into taking actions that will move certain share values up or down, on the false basis that these actions are needed to "save the Economy."
We're committing suicide to enrich a few obscenely rich people.
= = = = =
Couple days later: And one of those obscenely rich people has illustrated the point perfectly in last night's Dartmouth debate. Hellhound Romney called TARP "essential" and said: "I won't need to ask questions about the economy. I've been in the economy for most of my career." No you haven't, you monstrous Gaia-loving China-loving traitor, who should have been drawn, quartered and hanged for treason a long time ago. You've never been in the American economy for one microsecond. You've been in the Wall Street Mafia all your Satanic life. You're a Made Man in the Mafia. You've bought and sold companies and lives, and you've shipped thousands of jobs to your dear beloved loyal motherland China.
By contrast, Cain has actually worked in the American economy, managing a chain of restaurants that are good places for ordinary people to eat and work. And unsurprisingly, his plan for the economy makes sense, might even help ordinary people! I'm starting to appreciate Cain. Earlier he seemed to be just quoting the standard Repooflican mantras, but he's got some seriously good ideas. ¶ 4:21 AM
Come on, face facts. Everyone knows by now that "the market" has zero correlation to the real economy of goods and services.
It would be nice to see journalism based on this realistic premise, instead of constantly assuming that the Wall Street Cock Erection Index (commonly called The Dow) is the only valid measure of everything.
That mistaken assumption is a major part of our trouble, a major source of bubbles and TARP and all the other shit. That mistaken assumption enables insiders and traders to blackmail the public and the government into taking actions that will move certain share values up or down, on the false basis that these actions are needed to "save the Economy."
We're committing suicide to enrich a few obscenely rich people.
= = = = =
Couple days later: And one of those obscenely rich people has illustrated the point perfectly in last night's Dartmouth debate. Hellhound Romney called TARP "essential" and said: "I won't need to ask questions about the economy. I've been in the economy for most of my career." No you haven't, you monstrous Gaia-loving China-loving traitor, who should have been drawn, quartered and hanged for treason a long time ago. You've never been in the American economy for one microsecond. You've been in the Wall Street Mafia all your Satanic life. You're a Made Man in the Mafia. You've bought and sold companies and lives, and you've shipped thousands of jobs to your dear beloved loyal motherland China.
By contrast, Cain has actually worked in the American economy, managing a chain of restaurants that are good places for ordinary people to eat and work. And unsurprisingly, his plan for the economy makes sense, might even help ordinary people! I'm starting to appreciate Cain. Earlier he seemed to be just quoting the standard Repooflican mantras, but he's got some seriously good ideas. ¶ 4:21 AM
