Thursday, January 26, 2012

Henry Blodget and Ariana Huffington on Capitalism

Oh yeah, Blodget and Huffington say they are all for capitalism. Then Blodget says it needs to be tweaked and Huffington comes out against the carried interest tax break. This means she is for higher taxes. We are all taxed too much, she shouldn't be calling for the elimination of a tax break, but more tax breaks for all of us.

Blodget seems to think supply and demand doesn't apply in the wage sector and out of the blue says Walmart should be paying higher wages.

Hey, Henry, when are you going to let me come in and set Joe Weisenthal's salary at BI?

Bottom line: Blodget and Huffington have no clue as to what capitalism is.

It reminds me of a gal I once took on a date to a Lakers game, who claimed she was a big basketball fan. The first half passed, then the second half came to a close and as I stood up and started putting my coat on she asked me what I was doing. "Time to head out," I said. She then said, "But aren't we going to stay for the third period?" She didn't know basketball from hockey, although she claimed she did.

Blodget and Huffington have no idea what capitalism is really all about, but are going to provide us with all kinds of interventionist advice that has nothing to do with capitalism. Will somebody please buy them tickets to the third period of a basketball game.


  1. What hubris - what egotism! Something that has evolved over thousands of years can be tweaked and fixed? The vanity of these people. This is an epidemic. When the crash eventually arrives they wont be so confident then.....

  2. Isn't a Laker game 4 quarters? Only college bball has 2 halves.

  3. Ugh! I always hate when business and finance people speak on the subject of economics as if they are some sort of authority on the science of economics. That's like saying that just because you can ride a bike that makes you a master at physics.

  4. Do you expect anything less from someone who got banned from the securities industry for fraud?

  5. great post, great message, but the nba is quarters

  6. @Peter:

    You said it, so I don't have to!!

  7. Guys two quarters make a half. There are two halves in basketball, just like in football. There are also four quarters.

    For the rhythm of this story it makes sense to talk about two halves versus three periods in hockey.

    1. Haha! It's pretty funny that you have to explain something so basic, as if nobody has ever heard an announcer say something along the lines of, "we're heading into the end of the first half" when talking about basketball or football.

  8. @Anonymous 11:02

    Is there not a halftime?

  9. Sounds like they -- like most people these days -- are talking about state-capitalism which doesn't need to be "tweaked", it needs to be abolished. When capitalism refers to a truly free market, then I'm a capitalist. But when capitalism refers to state-capitalism, I'm an anti-capitalist.

    I hate to say it but, just as Proudhon and Tucker failed at keeping the statists from hijacking socialism, the free market capitalists have failed to keep the statists from hijacking capitalism. It's statism 101. It keeps people fighting over things that don't matter. If you can get 2 people fighting over what a word means then it might keep them from noticing that they both see freed markets as a solution.

  10. Lady with accent... we need to bring morality into capitalism.... continues to talk about stealing more money from people.

    Nice logic.

  11. College bball plays in halves...NBA in quarters. Just fyi...