Free Republic

"Whether one is a conservative or a radical, a protectionist or a free trader, a cosmopolitan or a nationalist, a churchman or a heathen, it is useful to know the causes and consequences of economic phenomena." That quotation, from Nobel laureate George J. Stigler, is how Dr. Thomas Sowell begins the fifth edition of "Basic Economics." It's a book that explains complex economic phenomena in a way that many economists cannot. And, I might add, it provides an understanding of some economic phenomena that might prove elusive to a Ph.D. economist. "Basic Economics" is a 653-page book, not including the...

Economics is haunted by more fallacies than any other study known to man. This is no accident. The inherent difficulties of the subject would be great enough in any case, but they are multiplied a thousandfold by a factor that is insignificant in, say, physics, mathematics or medicine-the special pleading of selfish interests. While every group has certain economic interests identical with those of all groups, every group has also, as we shall see, interests antagonistic to those of all other groups. While certain public policies would in the long run benefit everybody, other policies would benefit one group only...

We feel your pain, my British friends. We're not there yet, but we're right behind you. Sadly, your feckless leader appears to be more of an assclown than ours...for a brief second or two. Loony Obugger Clown is learning, and he's catching on fast!

Go figure. Our arrogant supreme being of “super intelligence,” otherwise known as the President of the United States, also dabbles in financial advice. As the Dow Jones dropped yet again, particularly when b. Hussein spoke to reporters this afternoon after huddling with British PM Gordon Jowls Brown to plot a global economic resurgence (takeover?) with their naughty little fetish, the AmeriEuro, the Great Hypnotist proclaimed that stocks are becoming a “potentially good deal” for those willing to hitch up their britches (since they’re home, beltless and unemployed, anyway) and think long term. Like he (ahem!) is.