Mandos

Is Smaug a follower of Glenn Beck?

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glennbeckdragon.jpg
This delicious image found after searching for “Glenn Beck Dragon”. Suffice it to say that he would never have been allowed out of the Blessed Realm.

Obviously I of all people have by now taken a gander at the new The Hobbit Plus Interpolated Bonus Material, part one of eleventy. I really do acknowledge my solemn obligation to review it, but real life and backlog of bloggy thoughts has caused me to defer this to some later time. I know. You has a sad.

So, I’m the sort of person for whom if such an investment product existed and I knew the first thing about actual practical investing and I wasn’t so habitually risk-averse (Vala of Doom, you know), I would go really “short” (that is a thing, right?) on the collective predictions of the economics profession, and “long” on their collective ill-effect. Suffice it to say; and it should surprise no one who knows The Mandos. But sometimes they write something rather funny and spot-on, when they aren’t being too serious.

Frances Woolley at Canadian econ blog Worthwhile Canadian Initiative writes a post comparing the arrival of the dragon Smaug to a major constricting economic event in Middle-Earth.

The interpretation of dragons as monetary phenomena is supported by the events occuring after the death of Smaug. Upon the great worm’s demise, the wealth it had stockpiled was shared between the dwarves and others who had contributed to the fight. Much gold was sent to the Master of Lake-town; followers and friends were rewarded freely. The result was an immediate increase in the money supply, and a rapid growth in overall economic activity.

Later in the comments she says,

Phil - Dragons just like gold - they’re greedy and avaricious, and like to sit upon their wealth. So one can think of this not only as a monetary shock, but as the diversion of wealth from potentially productive investments (an improved road through Mirkwood, for example), to unproductive uses (being sat on by dragons).

And I just can’t help but think of the poor old folks who people like Glenn Beck convince through fear-propaganda to invest in solid gold at unfavorable prices. But, as Frances says, in Smaug’s world, they can’t be by-passed by a government empowered to declare exchange-value tokens.

So a good chunk of the less-wealthy wealthy world is deeply angry that they are not Smaug, and cannot convert value to unproductive uses for as long as their whim demands.

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This page contains a single entry by Mandos published on December 30, 2012 3:42 PM.

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