Thursday, 23 June 2011

Wisdom of Markets

I tweeted on this this morning and probably it came out trollish, but I'm somewhat genuinely puzzled by the fact that conservatives proclaim deep faith in the wisdom of markets and yet, completely contrary to what the market is alleging, conservatives are also trying to stir up deep panic about the US debt. If the markets, the wise, omniscient markets, are shrugging off such concerns, why aren't conservatives? Not that it's such a starting claim, but if forced to hypothesize, I'd say it's evidence that this "panic" about the debt has lots to do with politics and very little to do with economics.

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