Saturday, March 30, 2013

Loony Tunes no. 79

As the major indexes post multi-year highs, many investors credit the invisible hand of the Federal Reserve.”
The conflict of moral character and meritocracy
In Binghamton University’s “Pipe Dream by Mike Marinaccio
As stated by political philosopher John Rawls, “the invisible hand guides things in the wrong direction and favors an oligopolistic configuration of accumulations that succeeds in maintaining unjustified inequalities and restrictions on fair opportunity.” … “This invisible hand is human nature.”
Colombian Yields Fall Ahead of Surprise Rate Cut; Peso Drops  Andrea Jaramillo in Blomberg Business Weeks HERE 
“We aren't economists of the orthodox tradition who say the market should determine the exchange rate,” Cardenas said. “We believe firmly that you have to intervene. That is, it isn't the invisible hand of the market, but the visible hand of the state”.
GK: Surely it must be the reverse:  Very visible prices run markets, but the secretive lobbying and machinations of politicians and hidden interests run the state!


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