Government Can Assess and Quell Fears

Tuesday, August 21, 2007
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At work the other day, I tortured myself by listening to Bloomberg on satellite and watching some Bubblevision (CNBC) overhead. I call it “stupidity in stereo.” The commentators can’t contain their enthusiasm regarding the ‘genius’ of the Fed’s latest move (lowering the discount rate).

The Morning Bubblehead on Bloomberg asked, “To the extent that this was a crisis of confidence, is the crisis now over?” As the government is currently engaged in a war on “terror,” apparently, it is also responsible for individual confidence that can — amazingly enough — be collectively assembled and quantified, while the lack of confidence can be quelled.

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