Two videos on the bailout
Published on September 28, 2008
This first one is interesting but probably puts too much blame on the Democrats. It still gives a good history of how we got here:
Russ Page sent me this one:
Archive for September, 2008
McBama debate recap
Published on
I love this debate recap from Lew Rockwell’s site:
McBama favors the Billionaire Bailout.
McBama won’t say what programs have to be cut to pay for the Billionaire Bailout.
McBama thinks “we should never hesitate to use military force.”
McBama wants to escalate the other unwinnable “land war in Asia” (Afghanistan).
McBama is not sure about whether to start a [...]
Economic downturn = judgement day for Web 2.0
Published on September 27, 2008
I was wondering when it would all end for Web 2.0. Well the end has arrived. It’s 2000 all over again, but this time the nuke is pointed right at venture-backed, pageview-obsessed, ad-centric content plays. I just got an email from Jason Calacanis and its dead on. He states:
It’s my believe that the economic downturn will [...]
Understanding the bailout and how we got into this mess
Published on September 26, 2008
It appears that most Americans (including congress) are having a hard time understanding the current credit crisis. As I was mowing my lawn last night I was trying to work some things out in my head to help explain the situation better to people I know. Here’s the simplest explanation I can give, but it [...]
Dave Walker’s Op-Ed in the Financial Times: Washington must heed fiscal alarm bell
Published on September 24, 2008
David Walker for President:
What do AIG, Bear Stearns, Fannie Mae, Freddie Mac, Lehman Brothers and Merrill Lynch have in common? Some thought that these companies were too big to fail. They were wrong: all of these companies have either filed for bankruptcy, been “bailed out” by the government, or, owing to the sub-prime crisis, have [...]
FROM MINISTER OF TREASURY PAULSON [URGENT]
Published on
(This awesome play off the classic Nigerian scammer emails comes via TheBigPicture)
SUBJECT: REQUEST FOR URGENT BUSINESS RELATIONSHIP
DEAR AMERICAN:
I NEED TO ASK YOU TO SUPPORT AN URGENT SECRET BUSINESS RELATIONSHIP WITH A TRANSFER OF FUNDS OF GREAT MAGNITUDE.
I AM MINISTRY OF THE TREASURY OF THE REPUBLIC OF AMERICA. MY COUNTRY HAS HAD CRISIS THAT HAS CAUSED [...]
“A portent of stormy weather ahead…”
Published on September 21, 2008
It was the spring of 2007 when I started to notice something funny in the world. At the time I had a buddy who owned a mortgage company and we were talking about a consulting gig so I started to do dig into the industry. What I uncovered made me very nervous. I began to [...]
CAPITALIST WHEN IT IS PROFITABLE AND COMMUNIST WHEN IT ISN’T
Published on
I’ll try my best to bleep out the swear words:
I am probably going to curse a lot in this because I am REALLY F***ING PISSED OFF. I am so pissed off I am shaking with rage. Our C*** sucking Communist government “is working on a more permanent solution to absorbing bad debt”. WHAT THE F***!!! I [...]
Financial crisis: Default by the US government is no longer unthinkable
Published on
Here’s another good one from the UK Telegraph:
How much more can the US taxpayer take? It sounds insane, but the liabilities being taken on by the Fed and the US Treasury are now so enormous that the government itself could default. No?
Check out the chart showing the recent spikes in the US 10-year credit default swap. [...]