Aaand Krugman wins econoNobel.
I just saw that! I love his blog reaction.
(I guess they also figured now was not the year to give it to someone at the U. of Chicago.)
― Ned Raggett, Monday, 13 October 2008 12:47 (fifteen years ago) link
Soros on Bill Moyers Journal last Friday:
http://www.pbs.org/moyers/journal/10102008/profile.html
Probablu the best analysis of the crisis that I've seen on TV.
― o. nate, Monday, 13 October 2008 15:20 (fifteen years ago) link
Probably
― o. nate, Monday, 13 October 2008 15:21 (fifteen years ago) link
Soros's bailout prescription (from the FT):
How to capitalise the banks and save financehttp://www.ft.com/cms/s/0/55b32b9e-9888-11dd-ace3-000077b07658.html
― o. nate, Monday, 13 October 2008 15:52 (fifteen years ago) link
but nothing, I see, on how to regulate so we don't end up right back here.
― Dead Cat Bounce (Ed), Monday, 13 October 2008 16:00 (fifteen years ago) link
Minor details.
― Ned Raggett, Monday, 13 October 2008 16:15 (fifteen years ago) link
At least he's having a go. Instead of the Robert Peston OMG IT'S A ANOTHER FUCKING CATASROPHIC DAY!!! nature of so much so called business comment.
― no amount of cajolery (Ned Trifle II), Monday, 13 October 2008 16:17 (fifteen years ago) link
God, for the past week Radio 4 has sounded like it's on repeat.
― Tracer Hand, Monday, 13 October 2008 16:18 (fifteen years ago) link
but nothing, I see, on how to regulate so we don't end up right back here
I think he must have ideas on that too, but this particular piece is more focused on crisis management to get us through the immediate situation, not on long-term fixes. In any case, he is clearly in favor of common-sense regulations. In the Moyer's interview he lays the blame directly for the crisis at the feet of "free market fundamentalists" who believe that markets can regulate themselves.
― o. nate, Monday, 13 October 2008 16:21 (fifteen years ago) link
Yeah, and not just the news, every bloody programme. Or they introduce something with "And now to take your minds of the crisis in the city here's Ian Hislop*". I know it's big sodding news OK, I know it's momentous times, OK, but as a lowly citizen with no political or financial clout my whole life is not spent thinking about this. OK?
*not a real example but you get my drift.
― no amount of cajolery (Ned Trifle II), Monday, 13 October 2008 16:33 (fifteen years ago) link
As a renter with no savings the whole thing fascinates me and in a way I am kind of rooting for it all to continue. :/ sorry guyz
― Tracer Hand, Monday, 13 October 2008 16:34 (fifteen years ago) link
this is good: http://www.slideshare.net/eldon/sequoia-capital-on-startups-and-the-economic-downturn-presentation
― joseph sixpack (ice crӕm), Monday, 13 October 2008 16:38 (fifteen years ago) link
A rather interesting piece by Fareed Zakaria:
There Is a Silver Lininghttp://www.newsweek.com/id/163449
― o. nate, Monday, 13 October 2008 16:38 (fifteen years ago) link
More signs that the Treasury is converging on a UK-style "capital injection" plan":
Treasury to Invest in `Healthy' Banks, Kashkari Sayshttp://www.bloomberg.com/apps/news?pid=20601087&sid=aevZYw1yDiuA&refer=home
― o. nate, Monday, 13 October 2008 16:58 (fifteen years ago) link
Interesting article that goes to show that being a short-seller in a bear market is still no guarantee of success:
Lehman collapse puts hedge fund in dire straitshttp://money.cnn.com/2008/10/10/news/economy/river_boyd.fortune/?postversion=2008101012
― o. nate, Monday, 13 October 2008 20:15 (fifteen years ago) link
http://media3.washingtonpost.com/wp-dyn/content/photo/2008/10/13/PH2008101300186.jpg
"Soytenly!"
― Ned Raggett, Monday, 13 October 2008 20:18 (fifteen years ago) link
http://www.salon.com/politics/war_room/2008/10/13/mccain_acorn/index.html
lul
― Every Day Jimmy Mod Is Hustlin' (Jimmy The Mod Awaits The Return Of His Beloved), Monday, 13 October 2008 20:41 (fifteen years ago) link
rong thred
― Every Day Jimmy Mod Is Hustlin' (Jimmy The Mod Awaits The Return Of His Beloved), Monday, 13 October 2008 22:24 (fifteen years ago) link
yay inflationary gonzo market bounce (936 pts?) - no, not like 1929 at all. safe to vote for mccain now, whew
― Vichitravirya_XI, Monday, 13 October 2008 22:35 (fifteen years ago) link
And the winners are HSBC, Mitsubishi UFJ and Santader, plus the Chinese, Dubai and Singapore.
― Dead Cat Bounce (Ed), Tuesday, 14 October 2008 09:25 (fifteen years ago) link
As a renter with no savings the whole thing fascinates me and in a way I am kind of rooting for it all to continue
me too! is all this good for us broke-renter guys in some way?
― NI, Tuesday, 14 October 2008 13:27 (fifteen years ago) link
Who do you work for?
― Dead Cat Bounce (Ed), Tuesday, 14 October 2008 13:31 (fifteen years ago) link
That's a good point - I work for a fairly recession-proof company right now
― Tracer Hand, Tuesday, 14 October 2008 13:53 (fifteen years ago) link
it could be really bad if the buy-to-let mortgage on the flat you're renting defaults and you come home to find yr stuff on the kerb, tho.
― stet, Tuesday, 14 October 2008 13:57 (fifteen years ago) link
Love that the big board is crashing this morning.
― Eric H., Tuesday, 14 October 2008 13:58 (fifteen years ago) link
it could be really bad if the buy-to-let mortgage on the flat you're renting defaults and you come home to find yr stuff on the kerb, tho.― stet, Tuesday, 14 October 2008 14:57 (2 minutes ago) Bookmark Suggest Ban Permalink
― stet, Tuesday, 14 October 2008 14:57 (2 minutes ago) Bookmark Suggest Ban Permalink
See above the cook county Sheriff refusing to evict tennants where the banks have foreclosed on landlords.
― Dead Cat Bounce (Ed), Tuesday, 14 October 2008 14:00 (fifteen years ago) link
is all this good for us broke-renter guys in some way?
probably not. harder-to-get mortgages = more people in the rental market.
― tipsy mothra, Tuesday, 14 October 2008 14:13 (fifteen years ago) link
+ more people renting out unsellable properties
― Kondratieff, Tuesday, 14 October 2008 14:17 (fifteen years ago) link
+ more people return home after losing employment
― Kondratieff, Tuesday, 14 October 2008 14:19 (fifteen years ago) link
a shitty economy is generally good for almost no one - at least short term
― joseph sixpack (ice crӕm), Tuesday, 14 October 2008 17:01 (fifteen years ago) link
Roubini still preaching doom non-shockerhttp://bloomberg.com/apps/news?pid=20601087&sid=a0AZ3ECSkvwc&refer=home
― Dandy Don Weiner, Tuesday, 14 October 2008 17:35 (fifteen years ago) link
you have to admit that unless we are very careful this is doom delayed, rather than doom averted.
― Dead Cat Bounce (Ed), Tuesday, 14 October 2008 17:39 (fifteen years ago) link
im totally going to ride the next bubble to riches ive decided
― joseph sixpack (ice crӕm), Tuesday, 14 October 2008 17:41 (fifteen years ago) link
do we know what its going to be yet btw
woops
― Every Day Jimmy Mod Is Hustlin' (Jimmy The Mod Awaits The Return Of His Beloved), Tuesday, 14 October 2008 18:17 (fifteen years ago) link
I don't think anyone is saying that we can avert a fairly painful recession. I think that the fear of imminent global financial collapse has receded a bit though.
― o. nate, Tuesday, 14 October 2008 18:27 (fifteen years ago) link
yeah the current plan seemed obv but now the hard part is creating a new regulatory framework.
― ******* (Lamp), Tuesday, 14 October 2008 18:38 (fifteen years ago) link
meanwhile, rejkjavik fap?
1.00 USD = 110.037 ISK United States Dollars Iceland Kronur 1 USD = 110.037 ISK 1 ISK = 0.00908786 USD
― goole, Tuesday, 14 October 2008 18:41 (fifteen years ago) link
yeah the current plan seemed obv but now the hard part is creating a new regulatory framework
Buffett's partner Charlie Munger has some interesting ideas on that score:
http://www.nakedcapitalism.com/2008/10/charlie-munger-leash-and-collar-wall.html
― o. nate, Tuesday, 14 October 2008 18:44 (fifteen years ago) link
A pint in Iceland is about 500IKR, so prob not.
― stet, Tuesday, 14 October 2008 19:11 (fifteen years ago) link
less than five bucks a pint? sounds fine to me
― goole, Tuesday, 14 October 2008 19:14 (fifteen years ago) link
yeah word. do vikings expect tips
― El Tomboto, Tuesday, 14 October 2008 19:14 (fifteen years ago) link
― joseph sixpack (ice crӕm), Tuesday, October 14, 2008 5:41 PM (2 hours ago) Bookmark
green
― BIG HOOS aka the steendriver, Tuesday, 14 October 2008 19:52 (fifteen years ago) link
soylent green?
― joe 40oz (deej), Tuesday, 14 October 2008 19:53 (fifteen years ago) link
as in weed btw
― BIG HOOS aka the steendriver, Tuesday, 14 October 2008 19:54 (fifteen years ago) link
soylent weed is people!!!
― joe 40oz (deej), Tuesday, 14 October 2008 19:59 (fifteen years ago) link
"I've got some really killer Chong here. Try it, dude."
― nickn, Tuesday, 14 October 2008 20:14 (fifteen years ago) link
Haha yeah I think most people have looking at a mere recession as being the best case scenario for some time now.
― Matt DC, Tuesday, 14 October 2008 20:20 (fifteen years ago) link
It's rude to tip in iceland.
Also I'm not sure those are valid rates. it was 350+ to the pound when the krona dropped off the market.
― Dead Cat Bounce (Ed), Tuesday, 14 October 2008 20:22 (fifteen years ago) link
http://www.nytimes.com/2008/10/14/opinion/14herbert.html?_r=1&oref=login
― Kramkoob (Catsupppppppppppppp dude 茄蕃), Tuesday, 14 October 2008 20:24 (fifteen years ago) link