Farewell, low-hanging fruit and Blackberry

[synchronicity]

Hedge fund manager Andrew Lahde's resignation letter must be the best ever. The funniest, too! ;D

How many people do you know who have quit their job in order to spend more time with their... money? ;D

Even funnier are his references to the 'idiots' at the helm of financial insitutions and government. You've gotta love this guy! ;D

Below is a link to the full letter. Enjoy it, gems of this quality are rare!

images.nymag.com/images/2/daily/2008/10/20081017_lahde.pdf

[Tamrin]

To those of use who could barely comprehend the fundamentals of Keynesian Economics, the theory of Monetarism seemed an arcane mystery: Seemingly a mystery akin to that of the emperor's new clothes.

[maximus]

True free market capitalism is the only way to go. Keep the govenment's nose out. Thier convoluted rules and regulations are what set things up for abuse in the first place.

[synchronicity]

Oct 19, 2008 10:59:34 GMT 10 @maximus said:

True free market capitalism is the only way to go. Keep the govenment's nose out. Thier convoluted rules and regulations are what set things up for abuse in the first place.

I couldn't agree more, Maximus.

Let's face it, governments are not run like businesses, or else they would run profits rather than losses every year. Truth is, if by fortuitous coincidence (rare) a government department is able not to spend all of its allocated budget one year, you can rest assured that its managers will find a way to squander what money is left, lest the following year's budget might be reduced. So, on this basis governments are the least qualified to tell businesses how to operate!

In addition to that, even when they mean well, governments often end up achieving the opposite of what they intended. This is because government intervention usually ends up creating imbalances which, ironically, favour inefficient companies and penalise efficient ones, all of which is bad for the economy, bad for the consumer, and bad for the taxpayer. This is, in a nutshell, is Henry Hazlitt's theory, which he masterfully expounded in his seminal book, Economics in One Lesson.

Henry Hazlitt

You can read Economics in One Lesson online here: jim.com/econ/contents.html

A PDF version of the book is also available here: www.hacer.org/pdf/Hazlitt00.pdf or here: prawo.uni.wroc.pl/~kwasnicki/EkonLit/Economics%20In%20One%20Lesson.pdf

[Tamrin]

That's free enterprise, friends: freedom to gamble, freedom to lose.
And the great thing -- the truly democratic thing about it --
is that you don't even have to be a player to lose

Barbara Ehrenreich


We have always known that heedless self-interest
was bad morals; we now know that it is bad economics

Franklin D. Roosevelt

[Tamrin]

[synchronicity]

[Tamrin]

[Tamrin]

[Tamrin]

Linked by Bro. Maximum on the Political Freedom forum:

'Atlas Shrugged'
From Fiction to Fact in 52 Years

Excerpt - Article by Stephen Moore, Wall Street Journal, 9 January 2009 - Linked Above]

Some years ago when I worked at the libertarian Cato Institute, we used to label any new hire who had not yet read "Atlas Shrugged" a "virgin." Being conversant in Ayn Rand's classic novel about the economic carnage caused by big government run amok was practically a job requirement. If only "Atlas" were required reading for every member of Congress and political appointee in the Obama administration. I'm confident that we'd get out of the current financial mess a lot faster.