Thursday, May 20, 2010

Merkel Mania

Angela Merkel, the current, but not for long, German Chancellor, is losing it. She is now urging world governments to basically try to regulate financial markets out of existence. Interesting view for a conservative political leader. This just shows that stupid economic policies come from both the right and the left. In fact, when policies are truly absurd, they tend to coalesce around them and support them.

Merkel should be quiet. Her comments are frightening the markets because it is so obvious that she doesn't understand what's going on. Investors do understand.