LOONY TUNES no. 167
In Nigeria Today (27 August) HERE
‘Sun Trust is the Bank for Small and Medium Enterprises’
“The invisible hand of destiny like in all things that produce good works, led him along the way. The same destiny provided a guardian angel who guided him as he walked down the path of progression. Today Muhammad Jibril’s dream of remaining a key player in the banking sector has become a dream come true. He first hinted this reporter in Abuja that his Sun Trust Savings & Loans Limited later a mortgage bank, was only a step in actualising that dream.”
Dream on! “The invisible hand of destiny …”!
Robert Romano, the senior editor of Americans for Limited Government, posts (26 August) on Investor’s Business Daily HERE
“For investors, the lack of growth here has meant a shifting of capital overseas, where all the production is. See how that works? The profit motive and the search for yield will always direct resources via the market's invisible hand. Here in the U.S. we're much better at buying things right now than selling them, and even then, the slowdown hurts as it restricts the resources available to consumers to spend.
So, what to do?
Fortunately for those who have had enough, it's an election year. We could keep doing what we've been doing, which is not working. Or if you prefer a change, there's always Donald Trump and Republicans.
Josh Guckert posts (26 July) on The Lbertarian Republic
In a video, Hasan Piker offers “Libertarianism Debunked” and Josh responds:
“The Young Turks Attempt to Debunk Libertarianism”
“Piker begins by non-ironically making this assertion just seconds after name-dropping the “invisible hand.” If he were more familiar with Adam Smith’s theory, he would know that what it means is that potential profiteers are required to do good, even if they do not have the best intentions. Otherwise, it becomes much more difficult for them to profit.
“The issue with the circumstances in the joke is that bartenders have an express profit motivation to please their customers. If they were to murder (intentionally or not) their patrons, they would be doing harm to their own pocketbooks. Word would quickly spread that their service was not reliable and that drinkers should look elsewhere. Therefore, the “invisible hand” motivates them to do well by their customers, even in the unlikely scenario that they wanted to poison them for some perverse reason.”
Robert Ingoglia, a writer in Hasbrouck Heights, N.J. email@example.com posts (26 August) on The Philadelphia Inquirer HERE
Don't say these things to your unemployed friends
“My layoff was, following this "logic," a golden opportunity to embrace the "invisible hand" (following Adam Smith) whose painful but deft touch would nudge me back into the upward track (following neoliberal Social Darwinism) by forcing me to update my superannuated skills.
My reaction is this: "Perhaps what I should really do is reinvent a society which eschews discarding individuals while assuaging the consciences of the discarders by throwing the unemployed negligible amounts of money and copious quantities of putatively impartial rationalizations.”