Anyone got a calibration of his past performance?
the Treasury bailout plan (the mother of all moral hazard bailout) is socialism for the rich, the well connected and Wall Street; it is the continuation of a corrupt system where profits are privatized and losses are socialized. Instead of wiping out shareholders of the two GSEs, replacing corrupt and incompetent managers and forcing a haircut on the claims of the creditors/bondholders such a plan bails out shareholders, managers and creditors at a massive cost to U.S. taxpayers.
If the chosen solution to the fire is to pour oil onto it, surely we can expect an ever greater conflagration?
How can "consumer sentiment" recover if consumers are even more impoverished by inflation and a net transfer of resources to Oil producers?
How can the US recover if the escalating costs of Iraq are compounded by increased oil prices.
I don't see the basis for recovery in his analysis... "It's a mystery to me - the game commences, For the usual fee - plus expenses, Confidential information - it's in my diary..."
But I agree that he does not acknowledge that the recession from Japan had pretty much the same origins and was a real catastrophy. He does acknowledge it however in what he thinks the correct solutions are: no bail outs. Rien n'est gratuit en ce bas monde. Tout s'expie, le bien comme le mal, se paie tot ou tard. Le bien c'est beaucoup plus cher, forcement. Celine
they're bailing out the richer at the cost of inflation, which punishes the poor.
whose patience and capacity for submission is finite. ~Government budget deficits are not nearly as dangerous as the deficits we have created in vital and complex natural systems.~ Naomi Klein.
The real problem with Paddy O'Bama's anodyne centrist campaign is that it contains no analysis of the roots of the problem and thus it will all be his fault as soon as he takes office. "It's a mystery to me - the game commences, For the usual fee - plus expenses, Confidential information - it's in my diary..."
Obama's Irish roots found to be Protestant - Telegraph
New research has traced Mr Obama's maternal family tree back to his great-great-great-great grandfather Joseph Kearney, a well-to-do shoemaker from Moneygall, Co Offaly, who lived from 1794 to 1861. Mr Obama's roots were uncovered by Canon Stephen Neill, a Church of Ireland rector, who found baptismal and marriage records in the house of a late parishioner, Elizabeth Short.
How the hell am I supposed to be able to vote for him now? Nil aon leigheas ar an ngra ach posadh
It's tragic that he's not also gay and a former fighter pilot, but I suppose you can't have everything.
- Jake If you only spend 20 minutes of the rest of your life on economics, go spend them here.
As Maher pointed out one night: "Oh, Congress looks like America -- we've got blacks, Asians, Hispanics, and whatever else is in Barack Obama." Conservatives want live babies so they can raise them to be dead soldiers. - George Carlin
you forgot he has a grandmother in kenya living in a mud hut!
roots, baby! ~Government budget deficits are not nearly as dangerous as the deficits we have created in vital and complex natural systems.~ Naomi Klein.
The Irish were the blacks of the modern western world before the Muslims ever were.
Oh, quit your whining. We gave you Boston, didn't we? ;)
Actually, one of my family members has an old (very old) sign that used to hang over a pub somewhere. It reads "No Dogs or Irish". It's hanging in his garage somewhere. Being partly of Irish descent, he gets a kick out of it. Conservatives want live babies so they can raise them to be dead soldiers. - George Carlin
I don't mind bringing bad news (in the energy or financial fields), but I really can't be moved by the feeling of glee that some may have when reporting bad news.
I personally much prefer the alternative project attitude, like underlining the progress in wind energy (thanks to Jérôme) for example.
Isn't there any good perspectives to emphasise? Actions taken in front of the finance crisis that may be efficient? That's one of the drawbacks of bringing only bad news: you risk turning up as a prophet of doom. A free fox in a free henhouse!
We are being hit by a financial hurricane. The response is like that towards Katrina. Turning away from the ugly truths on display only gives the shock capitalist boys and girls more scope to operate. Paralysis by revulsion only abets those to whom revulsion is not possible--the sociopaths who have been in charge. As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
What I'm feeling more comfortable is: what's happening is due to washington consensus policies during the last thirty years, now, if you don't want it to continue the same way, costing money to everyone, it's regulation time, and let's keep at it. A free fox in a free henhouse!
but it's therapeutic!
doom porn i mean...
kidding aside, i love the mix here. we don't ignore the worst, and we use vicious, nasty, black humour to try and cushion the shock, lashing out at shadows...
i agree about the positive stuff tho, it's great to see how and when things change for the better. i try to do this with solar, and jerome's successes with wind are welcome fodder after our tireless deconstructions of what's wrong with the world.
Yes We Can! ~Government budget deficits are not nearly as dangerous as the deficits we have created in vital and complex natural systems.~ Naomi Klein.
