April 18, 2012 at 7:51 pm #8558
Raúl Ilargi MeijerKeymaster
When the Treasury defense of TARP came out a few days ago, I happened to stumble upon a one paragraph summary of it from Dutch public broadcaster NOS.
[See the full post at: The Grinding Halt: Reality Falls to Bits and Pieces]April 19, 2012 at 2:17 am #2683
Thanks for passing through Hamilton earlier this week. Nice to have faces to put to names. I enjoyed (if that’s the right word!) Stoneleighs presentation despite it being a roundup/summary of what I’ve learned here the last 20mths. Had to get back to work during question time so wasn’t able to meet you – but thanks for doing what you’re doing. As far as the above craziness goes; well it’s pretty impossible to respect authority that doesn’t respect us. Lies = disrespect. We need leaders who are servants of the truth whatever the personal/professional cost to themselves.April 19, 2012 at 7:19 am #2684
But isn’t Mr. Mauldin just as deluded as Tim Geithner when he prattles on about growth? GDP/total credit market debt has been in recession for 40 years.April 19, 2012 at 8:31 pm #2690
Safe Haven?! In five years the yuan will be fully convertible. Who in their right mind would invest in dollars when yuan are available, as well as the other BRICS currencies.April 20, 2012 at 4:57 am #2692
steve from virginiaParticipant
Hmmm … interesting the masses (of analysts) are becoming frustrated by the lack of imagination on the part of administrators. At the same time, there isn’t much administrators are willing do without the masses having to (horrors!) give up something.
There are many reasons why the Titanic is the perfect metaphor for our times: the enterprise was (and is) gigantic, hubristic and overdone. The managers were (and are) greedy and stupid, the end had (has) the quest for the ultimate in luxury and decadence blowing up in everyone’s faces.
Reformers could re-imagine the Titanic today: load a giant cruise ship with entrepreneurs, bankers, auto company executives; innovators, politicians and hedge fund managers and send it out with Captain Jack Sparrow looking for an ice field. Sorry, five life boats. If no ice is to be found after a day or two (climate change) the Navy can fire a missile into the ship and the Iranians can be blamed. Any ‘complications’ and the lawyers would be loaded onto a giant cruise ship … etc.
Fixing what’s wrong with America is remarkably easy, if you put your mind to it.April 20, 2012 at 6:09 am #2693
In my latest text (in Finnish, of course) I laughed at precisely this “making profit” notion. Our current PM used essentially the same words two years ago saying “we (Finland) will earn from Greek bail-out”. Didn’t play out that well, did it?
Off-topic but still in a bit of similar note, not long ago Mr Krugman pointed out our PM’s hollow defenses about succesful austerity measures in Latvia and Ireland (there improved employment numbers are largely due to young people emigrating…). Of course no Finnish news picked up this poking as our dear leaders are unfallible. Oh well… (>_April 27, 2012 at 12:04 am #2809
Just a back of the envelope computation. $12.3T is about $40,000 per person. Or for a family of four, loss is $160,000. Octomom is behind more than $700,000 considering her other children.May 20, 2012 at 1:55 am #3409
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