DailyKos doesn't know economics

To celebrate my 200th post on my new blog, I'm going to make fun of DailyKos.

I was browsing through the stories on DailyKos yesterday. I don't know why. I don't like Bush either but they blame him for so much, even things he has nothing to do with, that it reaches self-parody. There was a diary on the big drop in the stock market and the comment section was filled with the usual nonsense. Is it mutually exclusive to be a far-left liberal and have any understanding of economics whatsoever? I'm sorry to stereotype but I have yet to meet one. They all assume that every corporation is bad, the government single-handedly controls the economy as if it's a computer network set in the corner of the Oval Office, etc. And I know ovals don't have corners BUT YOU ARE MISSING THE POINT! Here's some of the "jewels" that were in the comment section.

The markets are reacting to the fact that he somehow SURVIVED his trip to Afghanistan: Yes because the market gets really happy when someone one heartbeat away from the Presidency is targeted in assassination attempt. That just buoys everyone's spirits. On most sites, I'd count this as sarcasm. But it's Kos, so I think the author is genuine.

If I had any money to speak of I'd be in gold and real estate: Yeah real estate is a great bet now as the housing market seems to look even worse by the week. It looks to me like real estate will be in a down market the next 2-3 years to unwind some of the ridiculous gains we've had. And gold is one of the stupidest investments long-term you can make (besides Social Security). I remember reading somewhere that if you invested $1 in gold 100 years ago, today you would have about 97 cents. And that doesn't even include inflation.

Peak Oil will tank the real estate market VERY soon: Just like it did the last two times peak oil was expected to hit. Oh wait it didn't. Because it's a flawed economic methodology and doesn't take into account reserves that haven't been found yet and severely underestimates the amount of reserves countries may have or be producing. But keep the doom-saying up guys!

Cash is king in a recession: Someone else countered this on the Kos forum but I thought I'd ask too...what kind of cash? Dollar? Euro? Yen? Peso? Currencies change value compared to others all the time.

Gold is real money: No it's not. It's a fucking element. It's a commodity. It's not real money. It changes in value. An ounce of gold today may be worth a vastly different amount a year from now. If gold is real money than so is helium.

In a recession, oil is king: Already been countered but yeah...oil demand goes down in a recession.

Wait till China puts the billions in the world stock market they are talking about doing First they take our manufacturing industry and our jobs. Then they make everything and sell it back to us so they can take our money. Then with our mone, they buy up our debt so we are really dependent on them to live. Next, they take the rest of our money to buy up the stock and own the corporations in the US stock market. I'd say we've been invaded and beaten without a shot. Good ol' free traders and neo liberals.: This sounds strangely familiar. I KNOW! The 1980s when the Japanese were doing the same. And then their economy went into a decade long recession.

Somebody should NAIL Bushco for private account talk NOW...!!!: For one day? It wasn't even that large a drop by historical standards.

There goes our wonderful economy...What will they point to now?: In truth, Bush & Co do point to the stock market a lot to prove the economy is strong. But just because there was aless than 4% drop today doesn't prove or mean the economy is in the toilet. It was a one day event. In 1987 it lost 1/4 of its value. Yesterday it lost less than 1/25. That's a bit of a difference.

And it goes on. Please liberals, start to understand economics. If we can get you to understand that and business and get the conservatives to actually care for individuality and stop thinking they should rule the world then maybe we would be in a little better place.