LOONY TUNES NO. 110

11

1

NOAH BERLATSKY posts 17 February on The Atlantic HERE

“Adam Smith's invisible hand is a big paw of pleasure; the thing that pushes you willingly into capitalism's sacrificial maw is your own desire.”

2

Robbie Dinwoodies posts (19 February) HERE

"Handing out loyalty penalties”

“So why is it that that Adam Smith's invisible hand turns into a withered stump when it comes to so many suppliers of the other necessities of life such as financial services and public utilities?”

Comment

a.k.a metamorphising a metaphor!

3

Bloomberg View (19 Feb) on AZER NEWS HERE  and HERE 

“Oil Prices Set by Invisible hand”

“But the price of oil is another matter. That's going to depend on the headlines that reflect those national interests and technological advances -- or perhaps some new short term factors of the day. Traders rarely lack explanations for the numbers that skip across their screens.”

Comment

Yup! It’s the numbers, otherwise known as VISIBLE prices, that set the price of oil. There is no need for, and no such entity as “an INVISIBLE hand”. 

That’s just mumbo-jumbo speak from smart asses who make their money by getting between other guys with money and the VISIBLE prices in front of every bodys eyes. (Scottish proverb: “there’s none so blind as those who dinnae see”).