The U.S. Has Become A Nation Of Cheaters And Lottery Players

In yesterday’s commentary, I hope the following paragraph was not overlooked:

One thing I would like to know from the regulators is why they allow Talking Heads to say this market is going a lot higher from here without giving us (i) a three-month track record every time they make these pronouncements in the major media, and (ii) the factual basis on which they made their determination, and I don’t mean I want to hear that the Boys in NYC got together on the phone and said they could squeeze a little more out of this market.

If for a moment you reflect on the fact that Wall Street and Big Business in America pay homage to the application of statistics for purporting objectivity, and that, every business school in the country teaches statistics to their graduates, you would think the documentation of the logic behind a projection (i.e., market related call) would be standard operating procedure.

Truth is both business and government engage in practices that are a-scientific. E.g., why would any professional number cruncher elect or advise to report inflation with food and gas costs removed? Answer: it saved the US government a 5% increase in social security payments for the next year - and “compound years” to come. I have never seen a statement of facts as to why this is Fed policy.

The older you get, the more you realize the importance of social security as a needed core value in America. What the country has become, however, is indifferent to the poor, the elderly, the disabled, and the unemployed. It has become a nation of cheaters and lottery players.

http://en.wikipedia.org/wiki/Social_security

If you truly want social equity, you will have to fight for change.

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Comment by TradingHelpDesk

2009-09-17 07:37:43

Outstanding and true.

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