Be wise. Be brave. Be tricky. (slithytove) wrote,
Be wise. Be brave. Be tricky.
slithytove

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EconomicsFail09

Who's to blame for the current economic meltdown?

Brazilian President Luiz Inacio Lula da Silva says it's the fault of evil white folks.
White, blue-eyed bankers are entirely to blame for the world financial crisis that has ended up hitting black and indigenous people disproportionately, the president of Brazil declared.
Lovely. But wait! There's more. Almost a third of Europeans blame the Jews! Must be those blonde, blue-eyed Jews.

Paul Wilmott, a quant quoted in Barron's this week, blames the mathematicians, who...
...know nothing about finance. You can see this in the abstractness of their writing, you can hear it in their voices when they lecture. Sometimes they are incapable of understanding the markets, mathematicians are not exactly famous for their interpersonal skills. And understanding human nature is very important in this business. It’s not enough to say “all these interacting humans lead to Brownian Motion and efficient markets.” Baloney. Sometimes they don’t want to understand the markets, somehow they believe that pure mathematics for its own sake is better than mathematics that can actually be used. Sometimes they don’t know they don’t understand.
Yes, yes, our problem is socially inept mathmaticians!

Also, I blame the people across the street who let the plastic pool kill their grass. God, what an eyesore. They must be to blame. And the guy who threw me the finger in traffic yesterday. I'm trying to remember the color of his skin. Whatever it was, I'm positive it was people just like him who caused my 403b to lose half its value last year.

Tar and feathers for everyone!
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