Thursday, June 04, 2009

The Savants Of CNBC Tutor Us On Inflation

I flicked on the tube today literally as this goat rodeo was unfolding. What I saw was a freak show where vacuous Melissa Francis lectured Joe Lavorgna over his understanding of economics. Now, I don't really know anything about Lavorgna but I do know he is the only person in this rodeo that has a clue what is going on. When Melissa Francis brazenly ridicules a guest from a perch of utter and complete ignorance with complete surety, those believing the future threat is inflation should start to squirm in their seats.

Francis's inaccurate understanding of fundamentals is pervasive in the financial industry. It's no surprise that the other four people on this panel were deer in the headlights before this crisis.
posted by TimingLogic at 12:21 PM