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« Horrors Of US Torture Of Children | Main | The Magic Of Zero And Goddess Of Inflation »

July 16, 2008

Climbing In A Blizzard To The Death

Paulson_as_gnomeThis weekend, some racers running up an Alpine mountain perished in a summer blizzard. The story is remarkable because it shows clearly how bizarre people think when they lose all sight of reality and limitations imposed by natural forces. The financial mess, obvious to anyone with half a brain some time ago, continues to worsen. But stocks go up because one bank is raking in profits via late payment fees! Whoopee. For several years now, bad news drives up stocks which hope to see big profits from lay offs, outsourcing and punishing fees due to looming bankruptcies. In reality, there has been precious little honest good news for years now.

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