Friday, December 14, 2012
No, it doesn't make sense either.
Public Radio's Marketplace program started today quite properly by not joining the media blitz on the latest school shooting. Media blitzes tend to create more dramatic events. But the way they did it.....
"There's no way to make sense out of this massacre, so we won't try. Instead, we'll go on to Ben Bernanke's latest announcement." They looked at Bugsy's latest Zero-Interest massacre, and all agreed it makes perfect sense.
No, it doesn't. It's the same sort of thing as a mass shooting. Both are types of magic, aimed at "solving" a problem that exists mainly in the mind of the magician. If a shooter could just wait a few days or weeks, he'd find that the problem in his mind would fade. But he feels the need to ACT NOW! Same with Bugsy. He feels (or at least claims) that his zero-interest massacre will create more jobs, though it's impossible for rational people to see the connection.
In fact Bugsy's ZIRP will cause vastly more deaths than any one shooter. Bugsy is ruining the savings and pensions of everyone in the world, leading to shorter lives for people who counted on their savings. He's causing pension plans to go bankrupt, bringing down cities and states with them. He's causing insurance companies to seek new ways of overcharging and underpaying (compared to what they could do with NORMAL interest policies). This in turn causes most people and companies in America to lose money that they would otherwise have available.
One shooter can injure and kill dozens. One ZIRP gangster can bring down the world.
¶ 4:29 PM 
