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Monday, June 6, 2011

"Hopium"- the new cool buzzword

Take one part irrational optimism and hope in a non-existent, BS recovery

Add one part the psychological effects one would receive from opium use- enhanced euphoria and exaggerative sense of well being

Blend them together and you have "Hopium"

How to tell if someone is on Hopium?

Usually these people will have a (D) or an (R) next to their name and based on who is President, will shift from being a Hopium-head to being awake to reality...   Many, many others with this condition tend to work as economists, journalists and those directly in the world of banking and finance.

They will also say outlandish and stupid things like..

"The $10 billion plus or minus the auto intervention will cost (taxpayer money lost) was a great deal for American taxpayers..." - US Auto "Czar" Steven Rattner

"One month does not make a trend and we are coming off three solid report payroll reports..." Neil Dutta,  economist at Bank of America Merrill Lynch responding to bleak news of only 54,000 new jobs in May.

"We are still inclined to believe that this is a temporary soft patch..."  David Greenlaw, Morgan Stanley also responding on May jobs report

Hopium addicts are also known to have exceptional amounts of hubris, and to tend to have a wonderous skill of placing their heads deep inside their posteriors.

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