In the middle of 15 thousand screaming lunatics, one gets a different view of the economy.  These enthusiastic participants spent on average well over $300 each to attend something with no prize money.  They made decisions with economic consequences but without regard to money or even taxes.  They didn’t have any Keynesian concern about stimulating demand.  Likewise, they didn’t have any Austrian desire to save their money.  Finally, they couldn’t care less about needing some Supply-Side tax cut.  The lesson re-learned is that economics isn’t as important to individuals as economists like to think . . . darn it!

The second lesson re-learned is that those 15 thousand screaming lunatics represent the American spirit, full of fight, sardonic wit, and a zest for life; none of which has ever been quantified by economists.  They were young, forceful, fit, and aggressive.  As I’ve said here many times, the American economy is stronger than it appears.  We are burdened with the huge uncertainty of Europe, intimidated by China, but mostly just hobbled by politicians of both parties.

As Moses said . . . “Let my people go!”