Alarming News: I like Morgan Freeberg. A lot.
American Digest: And I like this from "The Blog That Nobody Reads", because it is -- mostly -- about me. What can I say? I'm on an ego trip today. It won't last.
Anti-Idiotarian Rottweiler: We were following a trackback and thinking "hmmm... this is a bloody excellent post!", and then we realized that it was just part III of, well, three...Damn. I wish I'd written those.
Anti-Idiotarian Rottweiler: ...I just remembered that I found a new blog a short while ago, House of Eratosthenes, that I really like. I like his common sense approach and his curiosity when it comes to why people believe what they believe rather than just what they believe.
Brutally Honest: Morgan Freeberg is brilliant.
Dr. Melissa Clouthier: Morgan Freeberg at House of Eratosthenes (pftthats a mouthful) honors big boned women in skimpy clothing. The picture there is priceless--keep scrolling down.
Exile in Portales: Via Gerard: Morgan Freeberg, a guy with a lot to say. And he speaks The Truth...and it's fascinating stuff. Worth a read, or three. Or six.
Just Muttering: Two nice pieces at House of Eratosthenes, one about a perhaps unintended effect of the Enron mess, and one on the Gore-y environ-movie.
Mein Blogovault: Make "the Blog that No One Reads" one of your daily reads.
The Virginian: I know this post will offend some people, but the author makes some good points.
Poetic Justice: Cletus! Ah gots a laiv one fer yew...
Melissa Clouthier is complaining about that mindless repetitive dirge from the left, “The Mess That Obama Inherited” and gives concrete, detailed reasons, for those who require them and are somehow not yet aware of them, why exactly it is the minstrels can go stick it. Along the way she says “this piece is really, really good” and drops into our laps a rock of pure gold. Or, rather, a litany of reasons to think we probably won’t see gold for awhile. It’s a response from Brad Warbiany at The Liberty Papers to Richard Posner’s apologia and insistence that Hey, wouldja lookit that, capitalism failed, and the bailout worked!! Well, not so fast —
[President Hoover] was rewriting the rules of the game surprisingly similar to the way that Obama is today, showing all investors that their gains or losses were due to their ability to play the political markets. He was disincentivizing investment by constantly changing the rules, and thereby the odds of success in any given market play.
So Barack Obama’s policies are antithetical to investment, antithetical to sound business planning, and ensured to kneecap any attempt at recovery that our economy hopes for. If you’re looking for reasons to worry about the future of this economy — looking for justification that this is not a recovery and a bear market rally — you simply have to combine a few facts:
1. Fundamentally, the bull market of the late 90’s and early 00’s was partly due to an extraordinary increase in financial system leverage.
2. This bull market was pumped up by fractional reserve banking and a completely unsustainable rise in asset prices that fueled the above leverage.
3. We are now at a point where leverage is unwinding and asset prices are still declining.
4. Government props have supported a rise in financial sector stocks, but fundamentally the stress tests prove that banks need to raise capital based on even mild financial shocks.
5. Any continued weakness in the economy will skewer this current rally.
6. Asset prices, foreclosures, and jobs data show no signs of getting better, only (at best) signs of slowing their decline.
7. Obama’s financial system meddling (auto bailout, TARP shenanigans, etc) is sure to provide more weakness than expected.
Leave a Reply
You must be logged in to post a comment.
So…um…where’s the omelet?
- CaptDMO | 05/15/2009 @ 20:16