It's Teflon Versus Gold

In recessionary times, the economics pundits have all but disappeared from the same TV screens they used to hog all along.

Simon Jenkins lambastes this “Teflon Profession”:

“Controlling the agencies of credit has proved beyond the finest professional minds in the game. Where now are the effortless pundits of the Treasury and the Bank? Where now the gilded ones of Moody’s and Standard & Poor’s, credit raters to the mightiest in the land? They should have stuck to goose entrails... “

Read excerpts from this article here.

Indeed, our very own Teflon-coated economist PM is going gung-ho on various fronts – from the nuclear deal to the opportunistic “vote trading” with the Samajwadi (Congresswadi?) party – but is totally quiet on all economic matters.

On this economist the pronouncement from London reported today is that he has been a “crashing disappointment”. I could not agree more.

In the meantime, the simple-minded common people of Vietnam have found the way out: conduct all deals in GOLD.

That is, of course, what all the good economists have been saying all along – only they are never seen on TV.

So out with the Teflon-coated economists, and let’s bring on the gold-plated ones.