Thursday, October 15, 2009

Thought For The Day

Paul Krugman wrote this today at his blog The Conscience Of A Liberal:

[Jim Rogers] was asked whether he was predicting that capital will start flowing into Asia — which he certainly seemed to be implying — and responded

“Well, capital has already been flowing into Asian economies, as you can see by the fact that they’re the world’s biggest creditors.”

Your homework assignment is to explain — in English — what’s wrong with that sentence.

Jim Rogers Makes My Head Hurt

If you're not an economist, this one might take a moment, but ...

Rogers is listed in the conference program as being CEO of Rogers Holdings. I no longer wonder how things like the bank and securities collapses of the last few years could happen. With guys like this and Jim Cramer providing us financial advice, it's a wonder we know anything about the financial sector. In my more paranoid moments, I think that the financial sector likes it that way. In those same paranoid moments, this serves to explain their continued existence on our TV screens and in the editorial pages.

[BTW, if you're still at sea as to what the joke is, think about which way money flows between a debtor and a creditor.]

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