Friday, March 09, 2007

Larry Kudlow and the Angry Hedgehog

As I have repeatedly argued, the one good idea from the hedgehog always wins the race against the many small ideas of the fox.

This one great idea is the global spread of free market capitalism.

It is producing a record amount of new billionaires around the world, according to the Forbes magazine list of billionaires published yesterday. There are now 946 billionaires circulating the globe, up more than a 150 from last year.

That is cocaine addict Larry Kudlow spinning the new Forbes Some People Have Too Much Shit List.Larry Kudlow runs the Free Enterprise Fund with Arthur Laffer. Laffer was that moron who created the Laffer Curve on a cocktail napkin, apparently after getting hammered. Their goals are to attack Move-On, repeal the estate tax, and re-open Studio 54 I think.

Wealth is being concentrated by now 946 billionaires instead of 796 last year. This is great for those extra 150 billionaires, but how does this prove that things are going well? One guy in Mexico is worth tens of billions, does this mean that poverty has been eliminated in that country and everybody is going to turn around and head back?

A few weeks ago, a study reported that 16 million people, a record, were living in extreme poverty in the US. That means that they earned less than half the figure of the poverty line. This amounts to about $5,000 for a single person.

Maybe the billionaires will cough up some new equipment at the local hospitals near where these poor souls live. I am suggesting new prostate screening equipment, so they can trickle down faster on the rest of us.