Search This Blog

Tuesday, October 26, 2010

"If I'm gonna get busted, it is NOT gonna be by a guy like THAT"

"For mere oppression may make a wise one act crazy" - Ecclesiastes 7:7, The Bible

I realize that some of my comments in the twitter stream may have sounded somewhat ... harsh ... lately.

As I have mentioned, on more than one occasion, that forms and tools of social media that are used to network one's 'presence' across the net come with their own unique sets of aggravations.

One of the biggest aggravations is that someone will remember something that I wrote or said ... say ... a year ago. I am then somehow pigeon-holed into a particular 'camp' or ideology that I do not belong to. For the record ... I am not a 'deflationist'. I still maintain that we have been crawling out of a deflationary trap. But good grief, an economic trap is a scenario, or type of environment. It does not describe with full detail what will occur with the mark in asset prices. Since September 25th, I've been discussing the return of inflation, possibly sooner if you count some of my earlier side comments that I had my eye beginning to turn in that direction.

Another aggravation of social media, is the tendency that people have to self-assign criticism that was not intended for them. So at times, I'll see something completely stupid, and comment on it. And I'm sorry, but when you see something completely insane? It's pretty hard to keep your mouth shut. Especially if you are as naturally gregarious, as I am. Unfortunately, for some reason, people tend to believe I'm talking about them, or something they said.

Chances are ... I'm not. Many times, it may be a media piece that I saw. So please rest easy on that route.

But I'm sorry, it never ceases to amaze me, and probably will never cease to amaze me ... how many absolutely stupid people are given millions and millions of dollars in this industry, to pursue equally idiotic economic concepts that were mathematically and scientifically proven false decades ago. I try to remember the Christian admonition that knowledge puffs up, whereas love builds up. But at times, it's hard, and I'm only human.

So for the record, and just so I can get this off my chest in a blogging venue, rather than 28 separate tweets ...

Dan is not a deflationist.

Dan is not an inflationist.

Full utilization has never been the intention of stimulus, from the foundation of Keynes work. Every economist since Keynes, and including Keynes knew this.

Dan is not a Keynesian.

Dan is not an "ian" anything, other than a "Christian", or hold to any form of 'ism'. To borrow a line from Ferris Beuller ... "isms in my opinion are not good. person should not believe in an -ism, he should believe in himself. I quote John Lennon, "I don't believe in Beatles, I just believe in me." Good point there. After all, he was the walrus."

There is a difference between supply, liquidity and volume; and if you are going to comment on economic metrics with the intention of advice or commentary then you should know the difference.

If someone states that "The United States is Zimbabwe" then they can be completely ignored. This should be self-evident to any individual with the powers of observation available to a 5 year old. They are not more intelligent. They don't have special insight. They are merely parroting what they heard someone else say because they were so unoriginal they could not comment with their own thoughts on the economy ...

* * *

Note: This is not an investment or trading recommendation. The losses in trading can be very real, and depending on the investment vehicle, can exceed your initial investment. I am not a licensed trading or investment adviser, or financial planner. But I do have 14 years of experience in trading and investing in these markets. The Challenge accounts are run for the education of other traders who should make their own decisions based off their own research, and tolerance for risk.

Search Investing and Trading Articles and Products