Highly recommended 20/20 piece by John Stossel – this originally aired on October 17, 2008. Summary of each video by yours truly.
What does this have to do with investing and markets? Everything. You can’t invest today without a thorough understanding of the idiotic decisions coming down the pike by our elected bureaucrats.
I’d recommend parts I, II, and V specifically – but the whole piece is great from start to finish.
- Part I – People who believe politicians can make society better are fools.
- Part II – Today’s economic problems were caused by too much government meddling, not too little.
- Part III – The comedy of errors by the government in rebuilding New Orleans – the best results were generated by volunteers who went around the government.
- Part IV – Making fun of bureaucratic red tape that prevents newbies from getting involved in politics.
- Part V – The farce that is farming subsidies.
- Part VI – We’re all screwed.