The coronavirus measures could be called a farce, but nobody’s laughing. From Bill Bonner at bonnerandpartners.com:
SAN MARTIN, ARGENTINA – What joy for a cynic! Here is proof that the human race is every bit as stupid and as cupid as he always thought it was.
Two of the biggest public policy humbugs in human history have come in the last 90 days. Today, we look at the first one.
On their own, people are passably competent and tolerably intelligent. They drive down highways at 70 mph. They balance their checkbooks. They get along with each other.
But give them “public policy,” and they immediately shed 50 IQ points… becoming delusional, vainglorious, and aggressive.
Everybody knows, on his own, that if he makes a copy of a $1 bill, it is worthless. But he thinks that the feds can create trillions of them… and they will magically represent real wealth.
On his own, he realizes that he knows nothing about China, Russia, or Iran. (As for the latter, he is not even sure where it is… or what language they speak there… And he believes, vaguely, that it is full of Arabs.) But as a matter of public policy, he is sure they are up to no good.
Personally, he avoids getting into conflict with his neighbors. But let the feds and the press come up with a woebegone war – against small countries… drugs… poverty… terrorism (even though he has no idea who qualifies as a terrorist)… and now, a molecule – and his national pride is engaged; he’s ready to back the war with all his heart.