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Another Frightening Show About the Economy

In August, I posted an article to point readers to a public radio show This American Life where they had aired a program titled “The Giant Pool of Money,” focusing on the subprime meltdown. Recently, they aired Another Frightening Show About the Economy which goes into even more detail, this time focusing on the commercial [...]

A picture print by Currier and Ives

In the classic Christmas song Winter Wonderland there is a line, “it will nearly be like a picture print by Currier and Ives.” Well, the times we are in now, are in fact, just that. Just perhaps not the scene that song was alluding to. This print is from 1875. Will we ever learn? Joe

Another Subprime Link

For those who have read my page of links to articles on the Subprime Meltdown, I’ve added one more – “The Government-Created Subprime Mortgage Meltdown” by Thomas J. DiLorenzo. As the title implies, he holds the Government (not the treasury, nor the federal reserve, but the government itself) responsible and he cites the 1977 Community [...]

Paulson to the Rescue

Henry Paulson spoke today about the mortgage crisis and how the government was going to encourage a rescue. I suppose the cynic in me can ask what makes anyone believe that it’s going to be done right this time. The origins of the subprime meltdown are based in a remarkable combination of greed and ignorance, [...]

History Repeating?

This is from the “random thoughts before I fall asleep department.” As a society, will we ever learn? Two unrelated issues, similar timeframes. First, in the early 80’s we enjoyed the Savings and Loan Crisis. The origins and result of that crisis are beyond my ability to analyze on my blog, it’s easy enough to [...]