Friday, May 4, 2012

Economics Is Easy, Politics Is Hard

I wrote to a friend expressing my frustration with the way economics is dealt with on TV. I was encouraged to copy what I wrote and put it on my blog. Those who have been reading my blog, MoneyThoughts, over the last 4 years, may find what I wrote a repeat, which it is, of my feelings about economics and politics. Here goes;
I listened to Paul Krugman on The Last Word last night on MSNBC. He is a Nobel Prize wining economist that teaches at Princeton University. Yes, he is MOT. The guy knows too much and yet he keeps trying to break through the ignorance out there about Keynesian Economics. I don't know how he keeps so cool about the level of discourse in the media when it comes to discussing economics. I get to a point where I wish I could just scream: "you all are a bunch of idiots and none of you talking heads on TV understand how economics works!!!" I don't write much on my blog, Moneythoughts, anymore because I have said it all several times and in every way I know how. Economics is easy, politics is hard. The Republicans decided after the presidential election that they were going to do everything in their power to make sure that the anomaly of a black president would not repeat itself in 2012. Fuck the country, and too bad if you were hurt badly by the financial crisis of the Bush years, but we Republicans have one and only one objective: stop that black president from being re-elected in 2012!!! When the Democrats had control of both the House and the Senate (2009-10), they should have passed larger stimulus bills and they did not have the courage to do it. The economy is coming back, but the trouble in Europe is not helping us either. That coupled with the Republicans who are hell bent to defeat Obama in 2012, will mean that any growth coming between now and the new congress of 2013, will be very little. If players in the commodity markets see the slowing economy coming, they will sell their futures and prices, such as oil, will come down. Oil is one of the most inflationary pieces of our economy as it is everywhere - it is up and down the system. Enough about the economy. Not enough people understand how the economy works, and there is too much misinformation out there on TV. Economics is easy to understand, politics is mean, bitter and sometimes cruel. Hope you all have had a good week.


LceeL said...

Well said Fred. Excellent nutshell.

winslow said...

Thoughtful expose'