How did Bernard L. Madoff bilk upwards of 50 billion bucks out of thousands of dupes? How could investors really believe he could deliver and sustain a 10-17% return annually? Isn't it common sense, a truism, that if something seems too good to be true, it probably is?
2012: In the last four years, Tea Party adherents have dug in their heels on just about everything, making me wonder how they came to such numbers. The US has always endured its fair share of "the paranoid style," but the most recent manifestation is just pitiful. John Birch society fringe fifty years ago, Tea Party fringe now, injecting poison into political and philosophical discourse. Tea Party ideology sickens me. I salute moderate Republicans, those who can battle it out with the loony "right wing."
In the 1770s, a major slogan in pre-US North America was "no taxation without representation." Now that everyone has representation, the 21st century Tea Party shouts, "No Taxation" period. End of story.
How does one contain and effectively marginalize such fanaticism?
Today's Rune: Growth.