Financial devastation surrounds us, and SOG has said hardly a word about it. That’s because SOG, as will be attested by anyone who knows him, has but the flimsiest and shortest-lived association with finances. In more direct terms, I really don’t know shit about economics. Money. Finance. Banking. Investments.
(As for retirement plans, I’m with the late Molly Ivins, who said her retirement package was picking up a lottery ticket on the way out of the super market.)
What I’ve been reading in the media and on the topical blogs persuades me that I am not alone in this ignorance. As I’ve just admitted, I know very little about economics; therefore, I’m not equipped to evaluate others’ knowledge of the subject.
However, when the predictions, analyses, and prescriptions diverge so widely — and to so little obvious real-world result — I feel safe in concluding that at least two-thirds of those “others” also do not know shit about economics. About the academic discipline, yes. Legions of them could ace any exam. But about down on the street paying the bills scratching for a buck economics, nada.
Okay, so two-thirds of them are wrong. How in hell can we find out which third is right?
In fact, right now I can’t type fast enough — let along blog quickly enough — to keep pace with dire predictions and even direr news reports. Web sites of the major media feature pictures of worried-looking bankers and brokers making frantic phone calls and waggling their hands on the market floor. The gates of hell are open, apparently, and these guys are looking into the flames.
One thing about them does strike me though… none of these guys looks hungry or ill. They’re all well and (one infers) expensively dressed. They stand or sit or waggle in comfortable surroundings. One (what the hell, I) suspect that most of them have lovely homes. They are not, in short, people who will actually fall into those flames.
They’re just the ones who built the fire.
More on this later, when I’m in a fairer frame of mind.