Thought for the Day

From Arnold Kling:

My take on the mortgage finance boom/bust, TARP, the stimulus, health care reform, and the global warming crusade is that they represent a series of ruling-class mistakes. From my perspective, these mistakes are in the tradition of such ruling-class mistakes as World War I and Vietnam.
I attach paramount importance to resisting the ruling class at this time. I view ethnic and cultural controversies as devices used by the ruling class to keep the resistance divided. The ruling class wants you to think that if you don’t support their entrenched power, the country will be over-run by a bunch of anti-intellectual racists and homophobes. I call baloney sandwich on that one.

If there were a stock or ETF tied to the public policy of “libertarianism for the rich/paternalism for the poor,” I’d rate it a very strong long-term buy.

Posted by on April 5th, 2010 at 11:06 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.