Does Anyone Share This Puzzlement?

I keep hearing about the catastrophe that would have happened had we not done all the things that we have done to stop the catastrophe from happening.  Has anybody out there heard anyone describe the might-have-been catastrophe that is worse than the one we have?

Reminds me of the joke about the guy who was throwing watermelon seeds out the window of the bus.  His seatmate asked him, "why?"  "To keep away the elephants," the man answered.  "But there aren't any elephants any where near here," answered the seatmate.   "See how well they work?" said the man.

Just so well have all the things government has done, is doing and will ever do actually worked.

Not to be Missed

This piece by Brandon Byrd at NoodleFood straighened out a lot of my thinking about Greenspan's tenure at the Fed and his often referenced connection to Objectivism.  In addition, Mr. Byrd presents a clear analysis of those who attack Rand without actually knowing what she said.

Where's the Beef?

Sent to CNBC

Show me the lack of money!  It has suddenly occurred to me to do what I wolud do if I were a detective  looking for evidence of the death of available money.

 

First I checked my own history history. When the brokers were trying to maintain the bubble that was making them rich, it was easy to get a loan.  In fact we didn't even have to try.  WE WERE CALLED.  Nobody doing that no more.

 

Now you have to qualify.  You have to call the bank (have you done that?) and ask them if they have money to lend. They will say yes...but you have to  qualify.

 

So here's a news directors assignment for you.  When you find those poor souls whose businesses are in danger of closing because they can't get any more credit ---- ask them how leveraged their business was when they started.  Had they saved enough to keep the business open for a year even if nobody came. Did their business plan include a detailed study of the market, the location and the demographics of the area where they were going to open?.  In other words should they have been granted a loan in the first place?

 

Before you discuss how dire the situation is find out why.

 

I expect to see the copy on my desk tomorrow morning.

 

AF

 

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