News & opinion on Greater China and the even Greater Beyond: by Biff Cappuccino.

Sunday, April 05, 2009

Cramer Says Recession Over

Looks like Obama has given up somewhat on morality-play economics
(i.e. the pursuit of fairness, social justice, and other hidebound
parochial populist nonsense) and turned (somewhat) to the real thing,
i.e. empiricism and ethics based economics (i.e. that what actually
works and makes the country a better place is ethical, regardless of
how immoral it appears to the shallow and fatuous glib Luddite). Thank
god. After the tedious distraction of medieval Islamofascism, the last
thing we need is another set of morons preoccupied with the pieties of
dark-ages thinking and repeating the antiquated errors of FDR and Wang
Mang (the latter a first century AD Chinese political progressive
(i.e. an anti-science pious economic conservative) who bankrupted the
Han economy with his own morality-play grand-idea based economics (ex:
he replaced the original currency format with a new one of 28
currencies; what a great idea! It's complex and abstruse. A work of
genius! It was like abandoning Copernicus for Ptolemy to explain the
solar system and calling one's detractors simpletons and
conservative-minded, when of course Ptolemy predates Copernicus and
Copernicus' system both worked and obeyed Occam's Razor, a rule of
thumb that possibly finds its greatest application in economics &
finance (two entirely different fields by the way; economics is to
finance as anthropology is to sociology). Much of economic
progressivism in fact predates capitalism by a couple of thousand
years and is in fact an attempt to complicate a simple system which
has been working better than any other for a thousand years now since
its inception in Europe care of the Catholic Church or in China during
the Sung Dynasty.

A simple thought experiment: were income gaps bigger or smaller prior
to capitalism? Smaller of course. The farther we move into the future,
the greater the gap becomes. Ergo the "progressive" demand for an end
to high executive salaries inter alia is not progressive but
conservative. Its a demand to return to the good old days when income
disparity was less. It's a demand made by a pack of economically
illiterate good ole' boys posing as futurists.

This sort of progressivism appears at times in all political parties
and of course always will.

Anyway, I found the following video at The Huffington Post whose
masthead might as well read: All the Ad hominems Fit to Print. Ignore
the bellicose comments below the article at the url below, as
opposition (principled or otherwise) to Dem talking points de jour is
typically interpreted by HP readers as treachery or the folly of the
useful idiot: failure to carry water renders one objectively an enemy
of the state-to-be. (And I'm fully familiar with the John
Stewart/Cramer circus)

I have no idea if Cramer is right about the economy, but if he's right
about Obama (who appears in three short clips) we can all breathe
easier. Somebody seems to have schooled him in Econ 101.

Cramer Huffing and Puffing over at Huff Post is here:

The past month's performance of the DOW is here:

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