Alan Greenspan, STFU!

Ayn Rand's most successful apostle^* is back at it again saying that regulations are causing all of our financial problems, and gives us this bon mot:

The problem is that regulators, and for that matter everyone else, can never get more than a glimpse at the internal workings of the simplest of modern financial systems. Today’s competitive markets, whether we seek to recognise it or not, are driven by an international version of Adam Smith’s “invisible hand” that is unredeemably opaque. With notably rare exceptions (2008, for example), the global “invisible hand” has created relatively stable exchange rates, interest rates, prices, and wage rates.

With notably rare exceptions, Abraham Lincoln enjoyed the play Our American Cousin.

As Paul Krugman observes, the level out outright cluelessness shown here is mind boggling, though the best response comes from Henry Farrell, who holds a "With notably rare exceptions," contest that is hysterically funny.

^*No, really, he actually hung out with her and was a part of regular meetings in her apartment.