Tuesday, February 19, 2008

Quote of the week

By Libby

I meant to put this up yesterday. Michael Linn Jones wrote an really good post on pundits and our economy and this has my vote as quote of the week.
In the economic funhouse that set up its tent in the 1970’s, lip service is paid to the vast pool of unwashed consumers. The REAL decisions; the true engine of the economy, are those of the “investing class” who are better-educated, and therefore wiser, than a bunch of chocolate cherry-chomping chumps watching TV.
Read the whole thing. Michael's right. As far the "experts" are concerned, all that matters is the velocity of money for those who already have it. I doubt they even understand the concept of living paycheck to paycheck. Those of us in that boat are all just collateral damage in the culture wars.

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