No Value Added

I recently made a resolution to stop focusing so much on what delusional pundits, authorities, and the like say in the media. It’s not productive (except as a gauge on sentiment), my portfolio has performed quite well ignoring their hallucinatory ramblings and I’m not sure why I should get so riled up over mass cluelessness. Perhaps it’s too distressing to be confronted with evidence of the pervasiveness of mass mediocrity. Realize that these mediocre minds — the ones who can’t see housing bubbles bigger than the moon, who can’t see the fall-out from bad political policies and who can’t run a business — these people are fully represented in the highest echelons of government, business and bureaucracy.

I’m listening to some Fed governor, I think Donald Kohn, but really it doesn’t matter who it is and probably best not to fill your brain with the name of a a person who doesn’t have a clue. His speech so far: there were problems in the subprime market, housing market needs to correct and now this is causing distress in the financial markets. No f*cking DUH! Isn’t this last summer’s newspaper, much less yesterday’s?

He also mentioned some causes for the recent “disappointing” inflation reports, blaming it on emerging market demand, biofuels, adverse weather, EVERYTHING BUT EASY MONETARY POLICY!

Markets move on this tripe? Sometimes, the folly of humanity astounds me. If this guy says one thing worth listening too, I’ll be surprised and let you know. Nouriel Roubini will comment afterward on Bloomberg.

Ooooo….”inflation expectations appear to be reasonably well-anchored” — hahaha, good one!

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One Response to “No Value Added”

  1. john Says:

    Very interesting post. Thanks

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