Wednesday, November 16, 2005

It's worse than I ever imagined

Met today with the senior majority and majority staff of the Senate Banking Committee to express my objections to Bernanke's nomination. Felt like a visitor from Planet Earth trying to explain to Martians how economics actually works on the blue-green planet. On Mars the laws of supply and demand and Gresham's Law stating bad money drives out good money don't apply.

The Martians have it made because their gods provide them with an endless supply of free food and drink. No need for professors of economics at Martian University where the best and brightest compete for coveted slots in the theology program.

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