Volatility

October 14, 2010

Question For Readers

Filed under: Uncategorized — Russ @ 7:41 am

 

I’m going to quote somebody, and I’m interested in what people’s impression is of the quote and the person who wrote it.
 
I’ll reveal who it is and give a link afterward, but first I want to see what people think before they know who it is. (It’s from May, BTW).

Now as for TARP, I have some background in economics. I took two years of econ as an undergraduate business major, including a memorable semester of macroeconomic theory from an anti-Keynesian young turk. I also had a semester course in corporate finance. So I probably had some sort of a handle on the crisis that hit the American financial sector in the summer of 2008. I believed that the economy would plunge into a deep depression if the major banks failed and credit virtually disappeared. It was difficult to imagine where the dominoes would stop falling as one sector after another collapsed. And I haven’t heard anyone who has criticized TARP acknowledge what would have happened if the government had not stepped in.

In the case of TARP, I’ve only heard of one economist who said the government should not step in. The experts seemed virtually unanimous, and what they said made sense to me. It was also true that the Bush administration, including the secretary of the treasury, and the Democratic nominee, Barrack Obama, and his economic advisers agreed TARP had to happen. True, most of the Republicans in Congress voted against it, but their reasons seemed short-sighted to me. I didn’t like the idea of bailing out the banks any more than Sen. McConnell did. But I thought it was more important to keep the economy from collapsing.

I think you’ll find, by the way, that a lot of the TARP loans have already been paid back, and in one way or another, most of the government investment will return to the treasury.

March 13, 2010

“The Front Fell Off” – A Funny Video

Filed under: Uncategorized — Russ @ 3:56 pm

I want to see if I now know how to embed a video, so here’s a funny one I saw the other day over at The Big Picture. 

Two Paintings

Filed under: Uncategorized — Russ @ 3:44 pm

 

Apocalyptic Landscapes, 1913

The Burned-Out Homeless Ones, 1912

These are two paintings from Ludwig Meidner’s Apocalyptic Landscapes series.

I just wanted to figure out how to put images in a post, something I’ve been procrastinating about learning. So we’ll see if this works.

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