Wednesday, March 10, 2010

Reich, Silverman

Robert Reich:
"Is Obama responsible for the meltdown of the Dow? The consistently wrong-headed Wall Street Journal's editorial page says so, as does Republican Fox News, CNN's reliably demagogic Lou Dobbs, and now CNBC (where, full disclosure, I frequently appear as a token liberal). CNBC's Jim Cramer, who bloviates nightly about stock picks, says Obama is pushing a "radical agenda" that's destroying investor's wealth. My friend Larry Kudlow, who rants nightly about nearly everything, says Obama is destroying capitalism. CNBC reporter Rick Santelli's ballistic nonsense about Obama's mortgage plan made him a pop-populist icon for a week or so."

Jack Silverman:
They have false theories.
What is the case if people dont know anything but they still want to talk? If people don't know what they are talking but still need, or want, to talk about whatever is the subject --- economics, for example --- they simply make up things. This is what Lou Dobbs, Jim Cramer, Larry Kudlow and others (I don't really know Santelli) are doing. They don't know anything about economics because NOBODY knows anything about economics. Except for you, if you read this blog.

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