Froth.

Posted on May 18, 2013 by in Letters

This picture was published in the WSJ noting the sale of this immortal piece of art (Barret Newman) for $42M.  In the Journal, in black and white it was just two black blobs.  Here we see it better and realize it is two blue blobs.  What it means for market analysis is that froth and foolishness is entering the market.  This is good.  The more the merrier.  In addition farmland prices are going out of sight.  These are all signs of froth in the economy.  Somebody ought to tell those 12.3 M unemployed people to stay out of sight, lest they spoil the party by looking ragged and hungry.  Oh well Congress is on the case, working hard -- having passed 30 bills on abortion and repealed Obama care at least five times.  We once suggested that all the seats in Congress should be electrified (like the border fence) and constituents should be able to vote to give their representatives the hot seat, and when that vote reached 50% plus one the Congressman would be turned into a crispy critter.  But we digress.

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