I was out on the west coast last month, and one of the most amusing things I saw was the disclaimer on Oregon’s lottery billboards. “Lottery games should not be played for investment purposes.” O RLY? Considering that at the time the Dow looked like it was going to zero, the lottery didn’t seem like that bad of an idea, even though it’s just like any other investment approach that involves little to no strategy and a desire for instant gratification.

My corollary link of the day: this piece from Information Arbitrage on the ineptitude of quick fixes like TARP and our total unwillingness to endure pain, and the moral hazard and futility of quick fixes. Here’s hoping the next administration keeps this in mind.