Manning The Ramparts
by digby
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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