Saturday, November 01, 2008

20/20 - John Stossel's Politically Incorrect Guide To Politics

Highly recommended 20/20 piece by John Stossel - this originally aired on October 17, 2008. Summary of each video by yours truly.

What does this have to do with investing and markets? Everything. You can't invest today without a thorough understanding of the idiotic decisions coming down the pike by our elected bureaucrats.

I'd recommend parts I, II, and V specifically - but the whole piece is great from start to finish.
  • Part I - People who believe politicians can make society better are fools.

  • Part II - Today's economic problems were caused by too much government meddling, not too little.

  • Part III - The comedy of errors by the government in rebuilding New Orleans - the best results were generated by volunteers who went around the government.

  • Part IV - Making fun of bureaucratic red tape that prevents newbies from getting involved in politics.

  • Part V - The farce that is farming subsidies.

  • Part VI - We're all screwed.

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