Blog and Run: Brad on Dobbs, and Why I’m not an Economist

 

Two quick items.

Brad Friedman of BradBlog will be on Lou Dobbs tonight, and possibly tomorrow as well, discussing e-voting machines and the recent Busby mis-election. Brad has literally owned the e-voting story in left blogistan, and has documented time and time again the irregularities and opportunities for fraud. Lou Dobbs has picked up [...]

Commentary By: Richard Blair

Two quick items.

Brad Friedman of BradBlog will be on Lou Dobbs tonight, and possibly tomorrow as well, discussing e-voting machines and the recent Busby mis-election. Brad has literally owned the e-voting story in left blogistan, and has documented time and time again the irregularities and opportunities for fraud. Lou Dobbs has picked up the scent of voting machine fraud recently, and with him as an advocate, Brad’™s job can only become easier.

Also, the Federal Reserve Board raised interest rates again today. The quarter-point hike is going to have a significant ripple effect throughout the economy. Already, those who have adjustable rate mortgages are feeling the Greenspan / Bernanke pinch. Rates were hiked ostensibly (according to business reports) to ‘œstem inflation’. I have a clue for the Fed – check oil prices – that’™s what is driving inflation, and going to literally cripple the economy in the next few months (this from a trucker acquaintance of mine). And how did Wall Street respond to this hike? Like a drunk sailor finding a $20 bill lying on the sidewalk. Wheeeee!!

Like I said: that’™s why I’™m not an economist. I don’™t understand how a piece of financial news that seems so inherently bad is viewed as good, and sends the market into euphoria. Perhaps Wall Street’™s response was to the public expectation setting of the past few days that the hike would be a full half of a percent.

But what do I know?

Thursday, June 29th, 2006 by Richard Blair |
Category: General,Permalink

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