3 hours ago
Thursday, July 16, 2015
I signed up with an Economics group on Google+ and posts sporadically appear in my email. Some are good, some are from students, most are pretty dry. But today I got one entitled China’s Market Crash vs. Wall Street’s Cocaine Habit from Fiorenzo Arcadi and it's pretty entertaining. He uses a fair heaping of sarcasm and a bit of straight shooting. Not sure that it reveals anything we didn't already know: the big shots are lying, or they have no more idea how the economy works than anyone else. Regardless, they all seem to follow the standard capitalist mantra, whatever happens, appear confident.
He also mentions Fitch Ratings, which I had never heard of. Turns out it's another financial ratings company like Standard & Poor's or Moody's.
Isn't is weird how cocaine is such an entrenched part of elite culture, yet we have a veritable army of men with guns trying to stop it? But don't listen to me complaining, America is the greatest country in the world, right? Except maybe China. We are all going to hell.