Sunday, March 07, 2010

Government's Irrational Exuberance

When Alan Greenspan Declared there was irrational exuberance in the Stock Market around 1995, the boos and hisses soon got him to change his tune.

The lyrics were right, and we are now ready for another chorus of "It's different This Time."

It's not sock puppets and cannon fired hamsters this time. The silliness that had people proclaiming "the metrics of eyeballs looking at screens have changed the value equation," now has people believing that government is not a hindrance to progress. It's Irrational Exuberance for politics.

The enthusiasm for all projects governmental is a nice rhyme to the boom. Somehow ignorant and vain stooges with executive hair in Washington are authorities, specializing in everything. And people believe this is a good and enduring thing, negating history. "The metrics of ego enhancement have changed the bureaucrats are wasteful equation."

Not 'arf likely, says I.

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