Sep 25 2008
Why the economy is messed up
I’ve been saying exactly this for years. I wonder if anybody noticed, or if Stewart worked it out independently. (Okay, I stole the line from MT)
We’ve got three financial networks on all day. The bottom falls out of the credit market, and they were all running around. On CNBC I saw a guy talking to eight people in [eight different onscreen] boxes, and they were all like, ”I don’t know!” It’d be like if Hurricane Ike hit, and you put on the Weather Channel, and they were yelling, ”I don’t know what the f— is going on! I’m getting wet and it’s windy and I don’t know why and it’s making me sad!
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6 Responses to “Why the economy is messed up”
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There is a guy going by “Mugwump” commenting on the last few Real Climate threads who thinks he is the smartest guy in the room. He commented on September 19:
“When climate sensitivity and its consequences, and the consequences of acting to drastically cut CO2 emissions, are as well understood as the current economic crisis and its consequences, then I will agree to act.” [1] [Reply: Linkified, wiki style.]
I thought I’d heard everything, but this wildly inflated confidence in economic theory and the free market is a new addition to the deny and delay arsenal.
Maybe those guys on CNBC should have blamed it all on aerosols.
Paul Middents:
New addition? That’s just late to the game, bro.
[2]
Frank bi
Is there nothing new under the sun?
Well actually there is–on the sun–an actual sunspot! Cycle 24 is underway. Back to a really old meme. If is warms, as it must, then it must be the sun.
Paul Middents:
When it comes to new things under the sun, I guess Lindzen’s latest, all-encompassing climate conspiracy theory is a possible candidate. The scientific consensus on AGW is caused by rogue greenies taking over professional organizations (that, and “political correctness”); and AGW belief caused the recent collapse of Lehman Brothers. No, I didn’t make this up. [3]
The fact that the so called economists did not see this comming shows that they are plain ignorant. At work here, we have been debating when this was going to happen for the last 3 years (not if). The fact that the average American can bearly service their debt, and the US economy relies on consumerism is all anyone should have needed to know to see this coming.