http://andrewsullivan.theatlantic.com/the_daily_dish/2009/07/why-did-economics-fail-us.html#more
The real danger in economics is that much of it's application - in my eye - appears to be treated as if it's in a bubble. Free-marketeers took the ideas of free-markets in black and white ignoring the caveats, and conditions that affect a markets ability to function pefectly. Fact is - as economics is taught - academics don't believe, and don't teach, market infalibility, and that some degree of regulation is needed. Markets, it seems, are run by people. People as we all know are not perfect, and will seek, and have sought, to manipulate and control markets.
I can't paraphrase it to do it justice. The entire article is here:
http://www.economist.com/printedition/displayStory.cfm?Story_ID=14031376
Monday, July 20, 2009
You gotta be kidding me!??!?!?!?!?!
http://www.nytimes.com/2009/07/20/business/20modify.html?_r=1&ref=business
So the subprime lenders that engaged in predatory practices - now that the subprime, and alt-a field has been picked clean (and then some) - are now selling themselves as the ones who can get you out of the mess, except they don't even intend to.
I know all my conservative and libertarian friends will say something to the effect of "Hey, they shouldn't have gotten themselves mess." or "The market will wash out all the bad players." And sure, on a macro scale, in enough time, the odds are most, of this will be cleaned up. What's funny is the whole world acted as if real estate would go up forever, and that these loans were sold on the premise that by the time the low intro/teaser rates re-set buyers would be able to re-fi with the new found equity. Of course many will also say - "investments always have the risk." How many of these were sold that risk in mind aside from the caveat "even real estate 'can' go down."
In the meantime - doesn't this sound like the guy who sold the elephant parade to the town, and then after the fact, the same person sells themselves as the best elephant poop cleaners ever.
So the subprime lenders that engaged in predatory practices - now that the subprime, and alt-a field has been picked clean (and then some) - are now selling themselves as the ones who can get you out of the mess, except they don't even intend to.
I know all my conservative and libertarian friends will say something to the effect of "Hey, they shouldn't have gotten themselves mess." or "The market will wash out all the bad players." And sure, on a macro scale, in enough time, the odds are most, of this will be cleaned up. What's funny is the whole world acted as if real estate would go up forever, and that these loans were sold on the premise that by the time the low intro/teaser rates re-set buyers would be able to re-fi with the new found equity. Of course many will also say - "investments always have the risk." How many of these were sold that risk in mind aside from the caveat "even real estate 'can' go down."
In the meantime - doesn't this sound like the guy who sold the elephant parade to the town, and then after the fact, the same person sells themselves as the best elephant poop cleaners ever.
Banned - for good reason - but I can't help but watch
http://www.youtube.com/watch?v=nquccBCNYpg&feature=player_embedded
Again and again and again and again........
Again and again and again and again........
Thursday, July 9, 2009
I got nothing
Enough said - I got nothing today. Planning to go up north for the weekend, so I guess the excuse is I am pre-occupied. Truth is - nothing to write about.
Wednesday, July 8, 2009
Jackson and Palin - Forgot all about Farrah & Ed
Fans of Farrah Fawcet, and Ed McMahon gotta be pissed. I know all these things happen in 3s. Too bad for Ed that the other 2 were the biggest sex symbol - ever, and (say what you will of his bizarre personal life) the greatest musician - arguably - ever.
That's really too bad for Ed, who of the 3 was probably the one who led the most selfless life. A Marine pilot in WWII, and Korea. That alone deserves undying respect. Add to that his career as the best straight man ever, and the 3 that we lost 2 weeks ago were tops in thier field.
As much as "being a sex symbol" is a field, Farrah was the best. Any super-model/pin-up type after her was compared to her - and that poster! A flip of the hair, and toothy grin with those blue eyes - to say nothing of the full-on nips in the swim suit. Forget it.
And Micheal - forget it. This is like Elvis passing. I never was a Micheal "fan" per se, but became one - like most of us - when Thriller came out. When I read the liner notes on the album, and saw that Eddie Van Halen played the lick, and solo on Beat It, forget it. Micheal fused hard rock, and R&B with Eddies lick, and that back beat.
Here's hoping it doesn't take 20+ years for Micheal's memory to live down the freak show persona, the way it took that long for Elvis' memory to live down the fat, jump suit Las Vegas shell of "The King"
On to Palin - who really cares? Can we please ignore the publicity whore she has become? She's retiring from Gov so the business of the state of Alaska is not otherwise distracted by the "unfair" media coverage of her. B00-fucking-hoo! Really. Maybe she should not have lied about "saying to to that Bridge to Nowhere." Or bitched about how the media payed too much attention to her family - then trotting out those kids on every whistle stop.
So while we're inundated with coverage of Micheal Jackson's passing, and Sarah avoids the unfair media by inviting them to go salmon fishing with her (huh?) - let's remember Ed.
That's really too bad for Ed, who of the 3 was probably the one who led the most selfless life. A Marine pilot in WWII, and Korea. That alone deserves undying respect. Add to that his career as the best straight man ever, and the 3 that we lost 2 weeks ago were tops in thier field.
As much as "being a sex symbol" is a field, Farrah was the best. Any super-model/pin-up type after her was compared to her - and that poster! A flip of the hair, and toothy grin with those blue eyes - to say nothing of the full-on nips in the swim suit. Forget it.
And Micheal - forget it. This is like Elvis passing. I never was a Micheal "fan" per se, but became one - like most of us - when Thriller came out. When I read the liner notes on the album, and saw that Eddie Van Halen played the lick, and solo on Beat It, forget it. Micheal fused hard rock, and R&B with Eddies lick, and that back beat.
Here's hoping it doesn't take 20+ years for Micheal's memory to live down the freak show persona, the way it took that long for Elvis' memory to live down the fat, jump suit Las Vegas shell of "The King"
On to Palin - who really cares? Can we please ignore the publicity whore she has become? She's retiring from Gov so the business of the state of Alaska is not otherwise distracted by the "unfair" media coverage of her. B00-fucking-hoo! Really. Maybe she should not have lied about "saying to to that Bridge to Nowhere." Or bitched about how the media payed too much attention to her family - then trotting out those kids on every whistle stop.
So while we're inundated with coverage of Micheal Jackson's passing, and Sarah avoids the unfair media by inviting them to go salmon fishing with her (huh?) - let's remember Ed.
Sunday, July 5, 2009
Day 1 - post 1. Nobody will read this.
It is July 5th. I have chicken in the oven, and iTunes is being a little bitch.
One of the things you do when you go through a divorce is reflect on things you didn't do - either in the context of the marriage, or in your own personal context. In other words personal things you put to the side because they were only for you, and not for the other person. Some may say that putting yourself to the side is on way to fail - you lose yourself. That's true to a degree, but on the other hand - aren't you supposed to be one of a pair, and your own personal wants and needs must be secondary? Who knows. All that really mattered from the second we decided to split, was becoming the person you want to be. Both as a newly single person, and as a former partner in context of your relations with marital friends, and in-laws, and especially (in my case) as a father.
I always wanted to be a writer. I guess it's ironic to a degree that I never pursued that either as a college student (majored in Psych, and minored in Marketing, and History). I spent 5 years after college trying to break into a career as a stand up. The best part was not the performing, although that got a pretty good high. The best part was coming up with a new bit - the writing. Sometimes it flowed like you were channeling. Other times you kicked against a wall, until you broke through to something good. I can't say which was a better feeling.
So here I am - starting a blog.
I stumbled upon bloggins in 2002. Being politically curious, and active - the web was a pretty cool, new thing at that time. Blogs at the time that I followed - Daily Kos, CalPundit, Atrios showed the power of instantly updating information, and the power of the link. Not only the story was in front of you, but the supporting material as well. Awesome! I don't know what my goal with this is. It'd be pretty cool to get something well read, and respected.
Here goes......
One of the things you do when you go through a divorce is reflect on things you didn't do - either in the context of the marriage, or in your own personal context. In other words personal things you put to the side because they were only for you, and not for the other person. Some may say that putting yourself to the side is on way to fail - you lose yourself. That's true to a degree, but on the other hand - aren't you supposed to be one of a pair, and your own personal wants and needs must be secondary? Who knows. All that really mattered from the second we decided to split, was becoming the person you want to be. Both as a newly single person, and as a former partner in context of your relations with marital friends, and in-laws, and especially (in my case) as a father.
I always wanted to be a writer. I guess it's ironic to a degree that I never pursued that either as a college student (majored in Psych, and minored in Marketing, and History). I spent 5 years after college trying to break into a career as a stand up. The best part was not the performing, although that got a pretty good high. The best part was coming up with a new bit - the writing. Sometimes it flowed like you were channeling. Other times you kicked against a wall, until you broke through to something good. I can't say which was a better feeling.
So here I am - starting a blog.
I stumbled upon bloggins in 2002. Being politically curious, and active - the web was a pretty cool, new thing at that time. Blogs at the time that I followed - Daily Kos, CalPundit, Atrios showed the power of instantly updating information, and the power of the link. Not only the story was in front of you, but the supporting material as well. Awesome! I don't know what my goal with this is. It'd be pretty cool to get something well read, and respected.
Here goes......
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