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The Bottom-Up Bailout Solution
Tuesday, September 30th, 2008If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!We all know that the bailout plan failed because the public is pissed off and would rather take a short-term financial beating themselves than reward the power elite who have been fleecing us for decades. The public is [...]
The Republican Frankenstein’s Monster
Tuesday, September 30th, 2008I’m fascinated by the dramatic disintegration of the Republican party over the credit bailout. It was just a few short years ago that they dominated the wimpy Democrats with ease, and now their brand equity is falling faster than, well, the stock market. How did this all go so wrong for them? [...]
How Much of the $700 Billion Bailout is YOUR Fault?
Friday, September 26th, 2008Ah, I remember it well. It was September of 2004 and my wife and I were about to make an offer on our first home. I remember our real estate agent advising us, “Just pay whatever the seller is asking or someone else will come in and offer more.”
To which I replied, “This isn’t right. Real estate is over-valued and somebody has to hold the line! I need you to negotiate tougher”.
But she said with confidence, “It doesn’t matter what you pay. It’s just going to keep going up. Real estate never goes down”.
And then she uttered this vintage 2004 line (and I’m not making this up), “In fact, the more you pay the better for you, because you’ll make that much more from the appreciation.” Classic!
Will the Bailout Lead to the End of Civilization?
Tuesday, September 23rd, 2008So much is being discussed about the proposed $700 billion bailout of the financial sector as I write this that I don’t see much point in just joining in the chorus of blame and hand wringing. But I do see this development as so relevant to the topic of this blog (the end of [...]