Illusion is the first of all pleasures.

For a while now I’ve been wondering about dollar’s appreciation against the euro. It seemed totally unwarranted – but hey, what do I know, I am not an economist.

Well, Dean Baker certainly is: In Europe, a sucker’s born every minute.

But, the European investors rush lemming like into the dollar. It’s a good deal for those of us in the US. We’ll get some cheap imports and good investment opportunities in Europe. We are all very thankful for the generosity of European investors.

The Dollar Bubble, ladies and gentlemen. This one without any apparent reason whatsoever.


  1. Posted October 29, 2008 at 9:48 pm | Permalink

    The economically-challenged consumer tends to think that economics must relate to the stock market, finance, business advice, vague “indicators” etc. Hearing “economics”, Jane Q. Pubic should not think of the stock market, but farms, factories, oil, gas, H20: commodities (tho’ not necessarily the marxist sort). Or fundamentals as some of the frat boy sorts call it.

    Academic frat-boy economists like DeLong want the abstractions of course: by number crunching ad infinitem, discussing “marginalism” (really just fancy name for profits), including many charts, equations, etc. econ. starts to appear like a science, when it’s really closer to anthropology or sociology (as even Veblen realized).

    In small scale situations (a warehouse, or town), yes, microecon.—supply and demand—, might work, but even then there are many unforeseen variables (say a hurricane, or war, or bad lending practices) that can and will tweak the supposed “laws.”

    Economics should not be that difficult, conceptually: it’s really just the stats that makes it so, and how the business and/or accounting depts teach it. Businessmen–money doctors!– want economics theory to be abstract and complex, but it’s not so much really. Massive and overwhelming, yes, but ultimately about resources, production, jobs. Monetarists are more or less soothsayers: really a more efficient, technologically upgraded bartering system could work (and prevent usury of various sorts).

    John Emerson wrote a few nearly interesting essays along these lines before deciding to re-dedicate himself to liberal xtianity, cheap vodka, and entertaining the floozies of unf’ed. .

    (part of the REAL trolling community since yr mama started dating Scooby Doo)

  2. Posted October 29, 2008 at 10:30 pm | Permalink

    Nah, John Emerson doesn’t sound like a vodka drinker. Definitely not cheap vodka, it makes you apathetic.

  3. horatiox
    Posted October 30, 2008 at 8:59 pm | Permalink

    Maybe he waters down his popov highballs with some cranberry juice or something, but someone that whacked is not just sippin brews or bordeaux. Probably got some decent chiba, which he shares with his mysterious “seester”, along with the popov; they jack up with mex mud–or maybe it’s like mondo doses of xanax or somethin’–he does some trollin,’ then returns to his chamber to read the wit and wisdom of Eleanor Roosevelt, etc .

    However f’ed up he really is, Emersan seems like Noam Nerdski compared to the sorry sacks of mierda who gather at the Weblog. Kwatsko’s irrational, sentimental pseudo-leftist noize site about the worst thing that ever happened to blogland, apart from like the UC Irvine Etiquette Mafia that hang at the Valve.

  4. Posted October 30, 2008 at 9:28 pm | Permalink

    Nah, c’mon, the Weblogies are nice fellas. A bit autistic sometimes, but in a cute sorta way.

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