Whereaminow Year in Review: Top Ten of 2010
This could be fun. Let's look back at my 10 most rec'd blogs of 2010, if nothing else but to feed my ever expanding ego.
It doesn't appear that I made any predictions that were off the mark. Then again, I played it safe. I predicted that this would be the worst year for US forces since the wars began. That turned out to be true, both in body count and embarrassments. I also predicted stagflation, and though I admit that the CPI is lower than expected (not that it matters much), all the pieces are in place for this prediction to be correct (higher PPI, commodity prices, unemployment).
But let's get to what I enjoy the most, blogging away on the topics of sound money and liberty. Here's the top 10 most rec'd for 2010:
10 (tie). Perhaps Sometimes Water Flows Up, March 25th and The Answer to DragonLZ is as easy as ABCT, June 1st, 46 recs.
That's a terrible title for a blog. How about "Maybe Possibly Often Water Flows Up?" Well, they can't all be winners. Anyway, the blog was about the differences in methodology employed by economic schools. It produced a lively discussion. Didn't see that coming.
The ABCT blog was a pretty solid explanation of Austrian Business Cycle Theory. I think it'll hold up pretty well.
9. A Letter to Bulls Part Two: Extending the Olive Branch, October 14th, 48 recs
Besides the egregious typo in the 7th paragraph (both market cap totals should equal $10M), this one turned out ok. I think I ruffled many feathers with these two posts, and that's a good thing. I was trying to explain to people that the total money in the stock market can't change in the long run unless the total money in the economy changed. This shouldn't be that hard to understand, but some of our fellow Fools took offense. Oh well. F*ck em! =D
8. I Have My Limits, March 4th, 49 recs
I took a closer look at the Keynesian Great Depression story, in particular, the narrative that describes Herbert Hoover as laissez faire and FDR as the maestro of the stimulus. It turns out the story doesn't stand up to scrutiny, just like all Keynesian stories. Along the way, Brad DeLong gets insulted. So that was fun
7. A Letter to Bulls: Please Stop Cheerleading our Destruction, October 13th, 50 recs
Boy was this a hoot. 50 recs and 81 comments. Needless to say, it was a tad controversial. I stand by every word. (Well, almost. The tone was a little harsh.) But the theory is sound. The market rises when new money is printed and put into play. Since that's the primary way that the American money supply expands, you can bet that long term rises in total market cap are primarily driven by money printing. In other words, the stock market indexes have become measures of inflation, and little more. Cheering a rise in market prices across the board, therefore, is cheering inflation. That's just dumb. Well, if you've been a Bull you're whole life, that's not going to sit well. Get over it.
6. If Inflation is Good, America Should Be Poorest Nation on Earth, April 19th, 52 recs
This one's a rant, admittedly. But it struck a chord with people. We keep getting told over and over again that inflation helps our economy. Yet, historically, America has had the lowest inflation of any nation. In fact, America had deflation for much of the period during which it pulled away from the rest of the world in terms of material wealth. So figure that one...
5. Random Thoughts for an Upside Down World, October 6th, 53 recs
Another rant. I question why the SEC exists, why people are so willing to give each other electrical shocks for science, and how you can cherish both limited government and a global empire.
4. Ben Bernanke: The Best Man for the Job, November 10th, 56 recs
This blog answers the timeless question, "why does a smart guy with a great beard suck so much at his job?"
3. Say it with me: "Unemployment Benefits are Evil", July 21st, 59 recs
Yes, they are. Egalitarianism is a revolt against nature.
2. When It Comes to Deflation You Are Walking Into a Trap, February 22nd, 83 recs
I think the reason this post hit home with so many people is that they could see that the deflation myth was pure propaganda. America never had deflation (at least not anything close to 'textbook' deflation.) With the talking heads screeching about a 0.1% drop in the CPI (as if that was something terrible), it was rather obvious that Pravda was shoving this in our face as part of a propaganda strategy.
1. The Greatest Lie Ever Told, September 29th, 89 recs
Man, that was a fun post. I'm glad you enjoyed it as much as I did.
So that's the year in review. Unfortunately, this had the opposite effect of what I was hoping. Instead of boosting my ego, this actually made me feel pretty small. My blogging isn't all that great. What makes it popular is that I talk about things CAPS readers want to talk about. In other words, I got lucky and found a niche. You guys wanted to hear more and it just so happened that it matched up with my hobby.
Instead of patting myself on the back, I want to thank everyone on CAPS for making this a great year. Here's to a great 2011. May all your returns beat the market!
David in Qatar