- Yves Smith: The focus initially is on the Economists….and the argument is that the Crisis is actually rooted in bad economic theory.
- Translation: Milton Friedman was a shill. They have been feeding us bullshit since this started in the 70s. It became a massively bigger pile of bullshit in the Reagan years. We are now at the pinnacle of the Himalayas of bullshit. Domestically speaking, we’re at the summit of the Mount freakin’ McKinley of bullshit.
- Yves Smith: Financial markets have no propensity to equilibrium. They fundamentally have a predisposition to boom-bust cycles.
- Translation: Financial bullshit always hits the fan.
- http: //outsidethe-cardboard-box.tumblr.com/post/439576967/yves-smith-for-dummies
Tribune Company CEO Randy Michaels has banned 119 “newsspeak” words and phrases from ever crossing the lips of anchors and reporters at WGN-AM. There’s a list here, but if you’d like them in a sentence, how about this:
In other news, stay tuned, because in our top story tonight, some really good (or bad) news: as expected, in a surprise move yesterday, informed sources say, a world class icon, diva, mother of all motorists, and famed undocumented alien, lauded for putting area residents at risk and in harm’s way, but at this point in time behind bars for allegations that — according to sketchy details that, to be fair, have officials and authorities under fire for speaking out — he reportedly engaged in shower activity with all of you folks at 5 am in the morning, underwent surgery, utilized an undisclosed vehicle in torrential rain in a near miss manhunt when it was time for a break, literally fled on foot, completely surprised his mother with a clash with bare naked police behind closed doors, definitely possibly completely destroyed a medical hospital under false pretenses, and is lucky to be alive …
(read the entire thing here.)

