Tuesday, December 9, 2008
Courtesy of LSH’s resident econ expert, Nagasaki. The rest can be found here. He says its the best explanation he’s seen yet for what happened with the mortgage crisis. Also, I’ve been reading a lot of people lately who wish to spread and water down the blame for our current economic predicament. Yes, the american consumer [...]
Monday, November 24, 2008
Curse those unions for bringing down Citigroup!
Tuesday, October 28, 2008
Everyone who knows me knows I do a lot of thinking about food and nutrition. A subset of those people have heard me beat the drum about how the Ethanol movement is an absolutely assinine, a claim that cannot be controversial to anyone with five minutes to spend thinking and a first-grade command of arithmetic. [...]
You think a lot about what other people have. You think about how they have money that you don’t, or screw hot chicks and you don’t, or how you have twenty pounds of ass fat that they don’t. At grocery checkouts this tendency is at its most garish. Think about it: what fucking sensible reason [...]
One of the principal troubles with a certain class of people is a staunch belief that markets are the Baby Jesus. Daniel talked about this yesterday, but this analysis on the implications of Greenspan’s ‘confession’ got me all riled up for another take: The failure of the Efficient Markets Hypothesis is, perhaps, an even more [...]
Saturday, October 25, 2008
With the credit crisis raging and the stock market crashing, it’s not surprising that some people are rethinking their approach to free-market economics. What is surprising is who some of these people are. Perhaps most surprising is former Fed chairman Alan Greenspan, a staunch opponent of regulation and a former member of the Objectivist inner [...]
From the LA Times – this breaking news seems troublesome: California Gov. Arnold Schwarzenegger, alarmed by the ongoing national financial crisis, warned Treasury Secretary Henry M. Paulson on Thursday that the state might need an emergency loan of as much as $7 billion from the federal government within weeks. The warning comes as California is [...]
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Monday, September 29, 2008
In light of the bailout bill’s failure today and the subsequent 777 point loss to the DJIA I find this HL Mencken quote quite fitting: Democracy is the theory that the common people know what they want, and deserve to get it good and hard.
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Tuesday, September 23, 2008
While we’re all trying to figure out just how great our contempt should be for the fucktards who played their parts in the current collapse, it’s good to keep the following in mind, from this short article: Resisting peer pressure isn’t pleasant. The banker who insisted on a 20% down payment for all mortgages got [...]
Monday, September 22, 2008
I don’t understand much about the big economic issues going on right now – especially the $700 billion taxpayer funded bailout of the fat-cats on Wall Street – but this article made me feel less dumb. These quotes in particular stood out but the whole thing was accessible to the layperson: Normally this would have [...]