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Manning the ramparts — the MOUs don’t actually care about money

Manning The Ramparts

by digby

Krugman asks:

What I’ve never quite understood is why so many investors still loooove the likes of the WSJ editorial page, while they hate, hate, hate people like, well, me — when believing anything the former says has historically been a very good way to lose a lot of money.

Perhaps that explains why our economy is so fucked up. It’s not about capitalism and certainly not about rationality.

I think this may be better understood as a failing, reckless aristocracy protecting its prerogatives. These days, making and losing money is beside the point. They believe they have been ordained by God and the serfs are challenging their authority.

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Published inUncategorized