Tuesday, August 21, 2007

Day Trading With Kentucky's Nest Egg

Watching Kentucky's legislators rush to back questionable energy theories with hard (borrowed) cash reminds me of watching wild-eyed amateur stock market traders.

It takes a special brand of moron to blow his family's savings on a financial offering when he really thinks he is the first person in the world to see a particular opportunity. When all his money is gone, he realizes he was just another sucker.

The eagerness in Frankfort to be the first state to go all in on "energy independence" and "alternative fuel production" reminds me a lot of that.