Whine, whine, whine.
It seems like every 4th post on SI is a rant, blaming the Fed for the decline in their portfolio. Mass whining.
3000 years ago, when there was plague or war or the crops failed, the peasants blamed the capricious Gods. Now, when BadThingsHappen, we blame the Fed. Sometimes, for variety, we blame the IMF or the World Bank. Mass whining.
This is what the Fed's job is like: Greenspan is driving a car on a narrow, twisting mountain road. But, when he turns the steering wheel, the wheels don't respond, until the car is another mile down the road. But he can't see clearly that far ahead. It's hard, with his "delayed-response steering wheel", to stay on the road, avoiding the rock wall of recession on one side, and the dropoff of inflation on the other side. But, if he doesn't do it perfectly, everyone whines.
It's so hard to look in the mirror and say, "I'm poorer now, because I bought the wrong stocks at the wrong prices. I have no one but myself to blame." It's so much easier to whine. |
