Worthless Trivia: American Idol to Lose Home
Wednesday, December 10th, 2008Fitting squarely in the “who gives a shit?” category: ‘American Idol’ Winner Fantasia Barrino May Lose Home: From The Associated Press: “American Idol” winner Fantasia Barrino is again finding that, like the title of her autobiography, life is not a fairy tale. Court documents obtained Tuesday show one of Barrino’s houses in Charlotte is up [...]
News Flash: Fannie Mae Knew it was Screwing Up
Wednesday, December 10th, 2008And let’s not forget that Fannie Mae and Freddie Mac are essentially government agencies, and contributed greatly to the financial crisis: Fannie Mae Internal E-Mail: Warnings Ignored: The House Oversight and Government Reform Committee held a hearing Tuesday to explore the collapse of mortgage finance giants Fannie Mae and Freddie Mac. And, as usual, Chairman [...]
The Financial Crisis in a Nutshell
Friday, December 5th, 2008If you’re looking for a clear, cogent description of how the current financial crisis happened, The Objective Standard has it: The High Cost of Washington’s Price Manipulation Policy: For decades Washington has been manipulating prices to encourage homeownership and “steer” the economy. To “incentivize” you to buy a house, it made mortgage payments tax deductible, [...]
New York Times Does Its Best to Create Sense of Maudlin Panic
Tuesday, November 25th, 2008Oh, for Pete’s sake, this is pathetic on so many levels: Come Christmas, McKenna Hunt, a gregarious little girl from Safety Harbor, Fla., will receive the play kitchen and the Elmo doll she wants. But her mother, Kristen Hunt, will go without the designer jeans she covets this season. if (acm.rc) acm.rc.write(); For Ms. Hunt [...]
Government Intervention Costs to Exceed $7.5 Trillion?
Tuesday, November 25th, 2008And so, apparently, the bailout costs most commonly discussed and mentioned in another post as approaching $2 trillion once Obama takes office, are really just obfuscations of the real costs of this round of government intervention. In fact, they’re only some of the tactics in play or planned: The government’s financial bailout will be the [...]
Obama Administration-Elect Loves a Crisis
Sunday, November 23rd, 2008Here’s Obama’s new Chief of Staff, Rahm Emanual, speaking on the opportunity to exploit the current crisis to expand government power. Rush Limbaugh had some analysis of the clip that’s worth a read: RUSH: Okay, so where is Obama? He’s not acting like Abraham Lincoln, that’s for damn sure. He’s acting like James Buchanan who [...]
No, Boing Boing, It’s Not Testosterone That Caused the Financial Crisis
Sunday, November 23rd, 2008Via Boing Boing, here’s a prime example of where a lack of valid principles creates all sorts of intellectual havoc: Forget behavioral economics — the Naked Scientists science podcast interviews a scientist who is investigating the hormonal basis for bubbles and crashes. It’s endocrinal economics! John – We found that the traders, if they had [...]
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