Eugene David
...The One-Minute Pundit

Tuesday, March 15, 2011


The media's shortsightedness is underlined by the shortsightedness of our CASINOS. They too are prone to panics because if anything they're even more shortsighted than newshacks; they can only see numbers, and can easily be lulled to sleep by soothing fairy tales -- or else break out in hives at stories of calamity, however false. Media and the CASINOS have a great deal too much in common, mostly the need to preen, and to SELL; both entities exist in a bell jar, hearing nothing from the outside world. It goes without saying what happened in Japan is bad for its economy in the short haul, but it no more merits a 10.5 percent plunge in one day than our CASINO could justify doubling its money in two years.

And the worst part is that will eventually lead to the kind of mindless buying that led our CASINO to double its money in two years.

I'm not a Pollyanna but I lived through TMI, and in hindsight the news hacks' panic was a joke.

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