Thursday, March 5, 2009

Something I'm sick of.

What, you may ask? The "armchair economist". This creature is similar to the Internet Libertarian in general weirdness. However, it seems to be much more widespread these days. Look, I'm as guilty as the next in stating my economic opinions during political campaigns. Like many of you, I get carried away. Just look back a few months and you'll see. But here we are taking a course of action, and still everyone is the expert. I always hear on MPR people claiming to have the answer. By people, I mean random callers, not guest experts. What are the experts saying? All the fancy words seem to amount to a shoulder shrug.

No one knows what's going to happen; least of all, some bumpkin from Alabama. Obama is taking a particular course of action, and no amount of complaining is going to change it. I guess I'd just prefer we gave it some time before we judge one way or the other. It might not be the best way to go, but it's the way we're going.

Many wanted to bury Keynesian economic theory in the last few decades. And they may have even had a point, until a few months back when the Federal Reserve lowered the funds rate to basically 0%. Nowhere else to go there. So here we are... no one can lay out the immediate economic future in a neat bullet-point list, but at least something's happening. So how about we all stop being so self-righteous, and see how things go for a bit?

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