Abelson "can't help thinking that, perversely, the roaring stock market and the increasing volume of assurances by Wall Street, Washington and other suspect sources that you can kiss the recession goodbye and happy days will soon be here again only rub it in for Jane and John Q., who are in a real sweat over the prospect - or, worse yet, the reality - of loosing their livelihoods, their homes or both".
One can't mention Alan Abelson without thinking of his rigidly ideological (and ideologically rigid) colleague, Gene Epstein.
The Big Picture blog's own Barry Ritholtz, in a pretty heroic post, tells us just what he thinks of Mr. Epstein. Everything I've ever wanted to say about him is in there, only Barry says it more eloquently. The money quote:
"Of all the observers of the economic crisis of the past year, few have gotten it wronger than Barron’s Gene Epstein. This is directly due, in my opinion, to Epstein’s political ideology. He may or may not be a good economist, but we have no idea as to whether that is so, as his economic views are so dominated by his ideological rigidity and political perspective.
I would expect as much from Al Franken or Rush Limbaugh, but one hopes for more from the economics reporter from one of the nation’s pre-emiment weekly journals. One would be disappointed."
No comments:
Post a Comment