atonement
October 10, 2008 Economics, Historic Districts Comments (0) 1430
Yom Kippur is the Day of Atonement. World financial markets responded with a belated atonement for a decade of make-believe profits fed by gypsum-and-pressboard McMansions. McMansions with the life expectancy of a McNugget. Now the spoiled spoon-fed MBAs – the real welfare moms – are queueing up for the dole. That’s not really a fair comparison: actual welfare recipients only get their checks monthly while the MBAs show up every week or two. And they get more in one day than Health and Human Services or Social Security get in a year.
But it seems like the atonement isn’t done until the banks are nationalized.
Are U of C economists going to have their Nobel awards revoked?
Tell me again why we are rescuing these people, who never rescued anyone.
Finances and the End of the Free Market
September 23, 2008 Economics Comments (0) 1313
The recent revelation of George W. Bush as the leader of the new United States of Soviet Socialist Republicans has been an historical shocker. Heir to a political legacy based on opposition to Franklin Roosevelt’s New Deal, the serial federal bailouts of the last week made Roosevelt look like a libertarian by comparison. It doesn’t seem to disturb those who have trumpeted free markets or put onerous free market deregulation requirements on the Asian bailout a decade ago. It does disturb people like me, who never bought a building with less than 20% down or even tested half the depth of my credit card limit. I was raised on fiscal responsibility and it has been more than a bit sickening to watch the drunken frat party on Wall Street for the entirety of my adult life. Not to mention the pretend conservative blowhards on TV and the radio. They should spend the rest of their lives eating their false words. And getting a real job – how long can you be a carny, after all? Continue Reading