Friday, October 17, 2008

Psychic powers return (or, "even a blind pig...")

Once upon a time I bragged of my apparent psychic powers: posting comments that later turned up in the news as real events or real people's policy proposals.

Yesterday I hinted that you'd be a fool to accept my economic advice.
Today I have cause to reconsider that opinion.

Last Thursday I published Free financial advice (worth every penny), suggesting a "buy low, sell high" market strategy, and advising that now or not-too-distant future might be a good bet for "low".
Today's NYT Op-Ed page features "Buy American. I am", by Warren E. Buffett, with the boxed summary
"History suggests that this is a smart time to invest in U.S. equities.
You heard it here first!

Also on today's NYT Op-Ed page is Paul Krugman's column, "Lets Get Fiscal", suggesting that balancing the budget is the wrong approach to getting us out of current mess, and that investing in infrastructure might not be such a bad idea.
"... It's politically fashionable to rant against government spending and demand fiscal responsibility. But right now, increased government spending is just what the doctor ordered, and concerns about the budget deficit should be put on hold.
...
And this is also a good time to engage in some serious infrastructure spending, which the country badly needs in any case."
Again: you heard it here first!
"you can't put a value on human life"
"... the cost of McCain's mortgage plan would employ 6Mn Americans - perhaps employ them doing something useful, like rebuilding our infrastructure. - Gainfully employ 'em!!! Make 'em useful citizens... which might not be such a bad thing after the economy has shed 750,000 jobs since Jan!!!"
and
Balanced budget???
"... We're facing an economic meltdown.
Restricting government spending to balance the budget is NOT the Rx.
(I believe someone has referred to this prescription as "neo-Hooverism.")

Senator Obama has acknowledged this - if not tonight, at least in a previous campaign speech. He suggested government-funded public works projects to rebuild the nation's infrastructure."
Yes, indeed: I do have psychic powers...
(... and maybe you should pay attention to my economic comments!)

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