Monday, February 9, 2009

I <3 this guy

This guy basically spells out my thoughts on the economy and the current government activity perfectly. I can type out a post but what's the point. He did it for me here.


Riggstad said...

Thats a good article. I enjoyed it and subscribe to it's thinking as well.

However, the answer to his query about someone forcing anyone to borrow anything is yes.

We have all been forced to borrow.
Via social presurre, under the past guise of economic stimulus, and the more recent past of financial models that assumed only "X" amount of loans would go bad.

And there inlies the problem.

It all catches up. If there was enough beavers around, I would suggest we go back to playing for things with pelts.

Of course, I would then see an opportunity to harvest, skin, and prepare those pelts faster than anyone else.

I would convince someone else with money that I could do so in such an efficient manner that I would be able to pay him back, plus a huge bonus for setting me up....

you get the picture :)

spritpot said...

I can't agree with all of that...hindsight is 20/20. Two and three years ago, there were intelligent people who thought real estate was not over-valued. He expects the government to be smart enough to notice that real estate is overvalued, and tell people in finance to stop underwriting mortgages? Even if they were prescient enough to see that, it would be murder politically.

Now he says these politicians should step out of the way and run a deflationary surplus into perpetuity. Hooveresque.


Alan aka RecessRampage said...

I think the key is that everyone is pointing to the banks to blame but the blame doesn't just lie in one entity...

Sia said...

A lot of blame to go around. As for me, I blame A-Rod. It's all his fault. I also blame him for all prior wars and terrorist attacks. And when The Family Guy was initially cancelled in 1999. That was his fault. What a jerk.