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http://jessescrossroadscafe.blogspot.com/2009/05/red-pill-or-blue-pill.html
After weeks of what I'd call 'Mr. Smith Comes to Washington' moralizing (this can't go on because it isn't true, it isn't fair. etc.), Jesse makes the following admission:
"Can we delude ourselves to prosperity? Can a powerful nation and otherwise intelligent people be that venal, faithless and craven?
Yes we can. We have been doing it for years. And it can only continue if we gain more control over the real world and the people in it, and bend them to our increasingly irrational will.
The triumph of the will."
Of course the S&P has increased near-40% in the interim. If money is essentially a figment, why not strengthen the potion and prolong the spell? I find there's a lot of 'naughty banker' moralizing which misses the realpolitik at-hand: the bankers just might pull it off for one more go. What's morality got to do with it anyway? It's only money. Is this capitulation --a reluctant buy signal from the cafe?
In fairness, he's been posing the central question reasonably enough in recent weeks --is this a bear market rally or a new bull-- and leaning I'd say towards the former. There's just a hint of a conciliatory sigh in the current entry.
After weeks of what I'd call 'Mr. Smith Comes to Washington' moralizing (this can't go on because it isn't true, it isn't fair. etc.), Jesse makes the following admission:
"Can we delude ourselves to prosperity? Can a powerful nation and otherwise intelligent people be that venal, faithless and craven?
Yes we can. We have been doing it for years. And it can only continue if we gain more control over the real world and the people in it, and bend them to our increasingly irrational will.
The triumph of the will."
Of course the S&P has increased near-40% in the interim. If money is essentially a figment, why not strengthen the potion and prolong the spell? I find there's a lot of 'naughty banker' moralizing which misses the realpolitik at-hand: the bankers just might pull it off for one more go. What's morality got to do with it anyway? It's only money. Is this capitulation --a reluctant buy signal from the cafe?
In fairness, he's been posing the central question reasonably enough in recent weeks --is this a bear market rally or a new bull-- and leaning I'd say towards the former. There's just a hint of a conciliatory sigh in the current entry.