An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
Pages
▼
Pages
▼
Monday, February 25, 2013
Bill Mitchell — Ratings firm plays the sucker card … again
Bill excoriates Moody's for the UK downgrade and George Osborne for lying about it. Reinhart and Rogoff come in for criticism too.
We have incredible brain capacity but we are not clever understanding the longer term consequences of our own simple habits.
As part of the survival process we must be conditioned to perform important basic routine task, such as feeding, whilst ignoring longer term dangers and distant external threats.
We repeatedly scratch mosquito bites till they bleed, we say never again every time we get a hangover, we over eat to a premature death, we catch the fish in the pond until they are all gone... No we are not smart at all.
"And the politicians and everyone else goes along with this nonsense. We really are not a very bright race of people..."
ReplyDeleteHard to argue with Bill on this point here... it's humiliating to look at oneself as the same species (for me anyway...)
rsp,
We have incredible brain capacity but we are not clever understanding the longer term consequences of our own simple habits.
ReplyDeleteAs part of the survival process we must be conditioned to perform important basic routine task, such as feeding, whilst ignoring longer term dangers and distant external threats.
We repeatedly scratch mosquito bites till they bleed, we say never again every time we get a hangover, we over eat to a premature death, we catch the fish in the pond until they are all gone... No we are not smart at all.
I think this guy nails the human stupidly issue.
ReplyDeletehttp://www.prettyfedup.com/pfu/philosophical/whyarepeoplesostupid.htm