“Bureaucrats in Brussels make the government in the U.S. look like an organization of geniuses”
This is Mish on a tear. He runs a video of the wit who coined this headline, Marc Faber. Faber is right, by the way. A few years ago on a tour in Switzerland of companies investing in and universities studying nanotechnology, IFO met a low level bureaucrat from Brussels. Total idiot. Nice person, but clueless. Wrapped up in tiny details of regulation of the European Union. Not a genius.
Here is Marc Faber, in his usual bad mood, on the topic in a Bloomberg broadcast: Marc Faber