One of these days I will outgrow my susceptibility to analogies. Until then I will be charmed by quotes like this, coming from Chris Whalen:
The idea of the Greenspan Put was that lower interest rates would cure the market’s woes. Unfortunately, the FOMC has since fallen into a pattern whereby longer periods of low or even zero interest rates are used to address yesterday’s errors, but this action also leads us into tomorrow’s financial excess. As one observer on Twitter noted in an exchange with Minneapolis Fed President Neel Kashkari:
“Central Bankers are much like the US Forest Service of old. Always trying to manage ‘nature’ and put out the little brush fires of the capitalist system, while they seem incapable of recognizing they are the root cause of major conflagrations as a result.”
A traveler in the western states gets to experience a real forest fire every now and then.
I like the quoted analogy but purdy picture #3 took the prize in this posting.
ReplyDeleteSpeaking of purdy pictures, is this a record number to be included in one posting?
Purdy pichers constitute my "value added" to the quote, for today!
DeleteUS Forest Service of OLD??
ReplyDeleteWell supposedly, the modern forest service has accepted the idea that a certain amount of fire is healthy for the forest.
DeleteBest eye candy ever!
ReplyDeleteGeorge
And here I thought that readers would feel betrayed by me taking the eye candy route, the easy route!
DeleteIntention is everything.
ReplyDeleteGeorge