One of the biggest issues I have with the political blogosphere is the placement of politics before economics. This is clearly putting the cart before the horse. It's nearly impossible for government, regardless of which party is in control, to make sound economic decisions. At best, the government can reverse prior bad economic decisions (this is the essence of most tax cuts).

In the long run, the importance of politcs pales before the importance of sound economic policy. Therefore, one's education should be in economics first, and politics second. Sadly, most people would prefer to play 'team sports' rather than switching teams (or deciding to look for a new team) based on rational economic decisions.

The Tea Parties are wonderful in this regard, but only so long as they remain essentially non-partisan. This doesn't mean that one party cannot respond to them better .. that would be fine. However, the movement should be ideologically (and economically) pure. The fact that pretty much all of the political establishment (from CNN reporters to GOP politicians) got their fair share of derision was very encouraging.

One of my current goals is to re-educate myself in the field of economics. This can not be done through conventional channels, unfortunately. From the idiotic boosterism of a clown like Cramer on CNBC to the various political arguments, one is constantly innundated with utter nonsense. One must scour the internet for independent voices.

The single best piece I came across today? This weekly analysis from an obscure fund manager. I'm not going to bother highlighting what I like about it. One should read, think, and decide for themselves.

Posted by: Hermit Dave at 08:30 PM | No Comments | Add Comment
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