Stimulus Folly
Stimulus attempts by bureaucrats most often are a folly. The antics that failed in the past always seem to be forgotten by academics despite the previous results. So they rehash them, as we see these days.
It is about time we make sure academics are not relied on so much, in the control of our destiny. How do we do this? Stop listening to the “geniuses” in the Treasury and the Federal Reserve trying to micromanage our government bailouts.
Notice that these folks all go to the same Ivy League schools? Schools which never give students bad marks? Schools which turn out famous students we hear about and see on TV? Which, as a result, hire fellow alumni at the drop of a hat because they are pretty much like-minded.
I can go on about their financial and business flubs but space is short. More in future comments.
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About Me
- Earl J. Weinreb
- I have been a senior Wall Street analyst, a top public company officer and director and independent business operator, as well as a past freelancer for such publications as Barrons® Trusts & Estates®, the Financial Analyst®, and a number of business and retirement journals. I am the only researcher to have studied and then further documented and individually investigated over 1600 strategies used on Wall Street. And I have looked at their pros and cons and other characteristics as they apply to professional and average investor use. What works best is the disciplined use of strategy with original purchase, not seat-of-the-pants decisions in midstream. In addition to being a senior investment analyst for a major Wall Street firm, I was an original investment researcher. To top that, I became a senior-level executive for public corporations, to see what it was like to be in actual business. Most Wall Street advisers have never operated a successful pushcart. A profitable publicly-owned firm I started from zero, grew to 74 coast-to-coast offices, by the time I sold my interests.
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