Ignorance is Bliss at 30.99% interest

As a leading middle of the night pundit (it isn't bragging if it's sad) I know little of economics. That's what happens in college when you take a course pass-fail. I did the same thing with Spanish, which is why I can confidently say "the beer is in the bathroom, please?" in Mexican. Pass-fail, it does a GPA good.

I try to read knowledgeable people like Krugman or FDL's Ian Welsh. Then, I am glad I also took Home-Ec pass/fail because I don't know how effectively put my head in the oven.

Of course, if I want to see the effects of self-baking done halfway I'll just watch stock-whores try to interview actual economists.

So I go by what complete morons think. Those who cannot admit they know little about economics, but know what they know because they know they know.

Ladies and Gentlemen, David Brooks on Bank Buyout II: Electric Boogaloo:

But another part of the administration’s economic strategy is being unveiled today by Treasury Secretary Tim Geithner, and at first blush the news is much happier. Geithner’s plan is huge but also disciplined. It’s designed by someone aware of government’s limitations.

I guess it's time to finally read those oven instructions.

[cross-posted at Firedoglake]