Monday, June 28, 2010

Quote of The Day

Bonddad aka Hale Stewart:

The continuation of the recovery is dependent on politicians doing the right thing. Last week's debate about unemployment benefits was without a doubt one of the most Kafkaesque events I have ever witnessed in my lifetime. Not since someone floated the idea that we can win a land war in Asia has Washington done something so mind-numbingly stupid.

What I find most disturbing is how incredibly stupid and ignorant Washington is about simple economics. I have posted the GDP equation several times to illustrate how incredibly ignorant the "government spending can't help" argument is; it is purely counter-factual and exists only in a the realm of political dogma. Yet that does not stop this incredibly idiotic argument from gaining traction in political dialog.

I am Frank Chow and I wish I said this

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