Tuesday, July 19, 2011

Wrong Focus (3): Hot Buttons


Hot button issues? Here are a few phrases from Noah Smith (I use his last name because I'm scolding him here)'s recent Now Ron Paul wants to debase the currency?

1. Now Ron Paul wants to debase the currency?
2. Oh dear sweet Jehovah.
3. Republicans ... recommend a U.S. sovereign default
4. hyperinflation
5. a huge step toward hyperinflation.

And I'm only seven lines into the text of his post.

Yes, it makes the post interesting.

No, it doesn't make it intelligent and worth reading. It doesn't solve the economic problem. It doesn't analyze the economic problem. It doesn't do anything but get you all agitated, and muddify the meaning of the word "seigniorage".

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