Thursday, September 29, 2011

The cavalry arrives

Over the years, there have been few moments in life more pleasurable than when I discover someone else has come to the same conclusion as I have only using a completely different path.  The video below provided me with my most recent such moment.

The reason I tend to be pretty skeptical about pronouncements from folks who have worked in the financial community is that I look at the whole crowd as a bunch of knuckle-draggers.  Excuse me, if you are famous because you got lucky on a string of trades, what sort of comments do you have to offer about the real economy where folks make absurdly difficult things and manage to market them to the far corners of the globe?  You are comparing being a gifted casino player with acts of staggering human genius.

Of course, most of these "market" players are also right-wing psychopaths so I really want to ignore them, but occasionally there is a self-styled "progressive" who wants us all to know that it is possible to sin at the casino while still being a good person.  Since at least 95% of the Democratic Party believes this and it is supposed to represent the working people (or once did) these folks are hardly as rare as one might believe.

So here we have Max Keiser—a libertarian (probably) who is a real full-blown financial type that ordinarily annoys me but is occasionally worth watching because he loves to reveal the scumbaggery of the Wall Street crowd—engaged in pretty sane discussions about the damage the casino crazies are causing the real economy.  It's wonderful!  And he has on Nomi Prins who has written what sound like a pretty interesting book on the Great Depression called Black Tuesday.  It's a novel.  I haven't read it.  But it sounds like she did some interesting research.

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