05 August 2009

Conspiracy of Optimism

Love this comment on a Zero Hedge article:

As near as i can tell forecasters don't forecast anymore than analysts, analyze or reporters, report. What they do is cheerleader. They all are all engaged in the conspiracy of optimism. Which leads to delusions of prosperity.

Seriously if loose monetary policy and rapid asset inflation were the route to economic prosperity, Argentina would be the richest country in the world by now.

On another matter, I find it interesting how misinformation/misinterpretation is propagated on the Internet. Example is the Adrian Douglas piece The Alchemist, which lodges itself in people's minds in simplistic terms, as evidenced in this comment on a Seeking Alpha article:

Delivery of futures contracts in gold and silver is allowed in bullion or GLD and SLV.

The statement is refuted by another commenter kohalakid. I would also recommend Tom Szabo's Exchange of Futures for Physical (EFP) Explained.

No comments:

Post a Comment