When did this happen?
It's been a relatively slow work week so I find myself falling further and further into the abyss that is the internet. I'm not sure exactly when it happened, but I got all opinionated about stuff. I pretty much learned, this week, that if you ignore politics for 29 yrs, there is a lot of catching up to do. I understand there's a lot going on right now and I'm aware of some of our bigger issues, but I wouldn't say I'm really knowledgeable about any of them. Thus, as I read one article there is likely some reference to an event or policy that I know nothing about and thank god for the internet having a link ready for me so I can do some background research. That shit does not happen in print.
I'm not sure when I started caring enough about this stuff to write it down in lieu of linking videos of skateboarders getting hit in the nuts, but I apologize to my readers, both of you, if I'm boring you.
I mentioned earlier how absolutely fascinating this whole economic crisis is - absolutely horrifying, but fascinating. Being an economics major, an accountant and an active investor makes this event a pretty big deal to me. The scale of the disaster is absolutely mind-boggling. I've linked a whole bunch of stuff lately that is really indepth, but largely difficult to follow without some background so this does a pretty good job of explaining what's going on in relative simplicity while sticking a timeline on it. Out of all that I've read, that article seems to break it down the best without pinning this on one group.
It looks like the $700B bailout package is going to happen. I'm not sure how I feel about that. Everything about it seems like an utter disaster, but I want to believe that with all these people looking at it and deeming it necessary that they truly believe that it's the only option. I think there are many ways we could get around the bailout, but it might be too late for that. On paper this seems pretty much ass backwards:
1.) Banks are failing because no one wants to buy mortgage backed securities because the people that were issued the mortgages aren't responsible enough to pay them.
2.) The taxpayers buy all of the bad mortgages because no one else will. This saves the banks by allowing them to take on new mortgages. Hoses the taxpayer.
3.) Everyone wins.
Wait, what? I grasp that the government can wait for the market to turn around and the banks can't. Maybe it really is too late, but it just seems like there is a better way. All I know, is that John Q. Public is screwed for quite some time.
In other news that is far more pressing in the short-term, the American Meat Institute will continue its quest for glory tonight without its leadoff bowler, Chop. In his place, the team has turned to the Italian Sausage to bolster its lineup. This is an exciting time for all of us. I could not be happier to be bowling this week. There has been far too many serious things clogging my mind and there's few things more apt to clear that up than 4 dudes, named after meat, imbibing alcohol and getting rowdy over competitive bowling.
Carry on my wayward sons...
I'm not sure when I started caring enough about this stuff to write it down in lieu of linking videos of skateboarders getting hit in the nuts, but I apologize to my readers, both of you, if I'm boring you.
I mentioned earlier how absolutely fascinating this whole economic crisis is - absolutely horrifying, but fascinating. Being an economics major, an accountant and an active investor makes this event a pretty big deal to me. The scale of the disaster is absolutely mind-boggling. I've linked a whole bunch of stuff lately that is really indepth, but largely difficult to follow without some background so this does a pretty good job of explaining what's going on in relative simplicity while sticking a timeline on it. Out of all that I've read, that article seems to break it down the best without pinning this on one group.
It looks like the $700B bailout package is going to happen. I'm not sure how I feel about that. Everything about it seems like an utter disaster, but I want to believe that with all these people looking at it and deeming it necessary that they truly believe that it's the only option. I think there are many ways we could get around the bailout, but it might be too late for that. On paper this seems pretty much ass backwards:
1.) Banks are failing because no one wants to buy mortgage backed securities because the people that were issued the mortgages aren't responsible enough to pay them.
2.) The taxpayers buy all of the bad mortgages because no one else will. This saves the banks by allowing them to take on new mortgages. Hoses the taxpayer.
3.) Everyone wins.
Wait, what? I grasp that the government can wait for the market to turn around and the banks can't. Maybe it really is too late, but it just seems like there is a better way. All I know, is that John Q. Public is screwed for quite some time.
In other news that is far more pressing in the short-term, the American Meat Institute will continue its quest for glory tonight without its leadoff bowler, Chop. In his place, the team has turned to the Italian Sausage to bolster its lineup. This is an exciting time for all of us. I could not be happier to be bowling this week. There has been far too many serious things clogging my mind and there's few things more apt to clear that up than 4 dudes, named after meat, imbibing alcohol and getting rowdy over competitive bowling.
Carry on my wayward sons...