Nobody Knows Anything

Cowperthwaite.  Sir John Cowperthwaite. An unlikely guru, to be sure. But at the end of the week in which the Republican Party lifted caps on discretionary public spending by $300 billion over the next two years, putting the US on what appears to be a path to permanent $1 trillion deficits; in which the era of austerity was said to come to an end; in which the Dow Jones Industrial Average swung wildly and declined sharply for no apparent reason: Cowperthwaite was the authority who came to mind.