i find myself bored with a lot of things. almost everything. i feel totally neutral. neutral is a weird thing to feel.
maybe i should sit down and criticize our response to the financial crisis. that might be fun. i want to see what happens though.
what i love about markets and money is what i love about everything else. it has no real meaning or value. i think that is one of the most interesting things that most people fail to truly comprehend. value is a totally human artifice. we make it. we destroy it. such a cool idea. i might come up with a real post about this... i'm just bored now and can't sleep.
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I must be totally misinformed about this whole financial crisis. I mean, as far as I can perceive, things are screwy mainly because stupid people took out loans they couldn't afford. Usually the people who do things like this aren't the richest people to begin with, so the loans they took out really shouldn't be more than $1 million. As such, wouldn't it be a lot easier, and a heckuva lot less than $700 billion, to just give everyone in America $1 million, straight up? Defaulters will be able to pay back their loans, and the economy will revitalize since, being the stupid Americans we are, 60% of the population would spend all of it within 2 weeks. Stores wouldn't be able to keep HDTV's on the shelves.
The only problem I potentially see with this is that the banks wouldn't be garnering the revenue they otherwise would, since most of that income is gained solely through interest, but at least they won't be friggin' bankrupt.
On a side note, I feel mostly neutral all the time - yet I'm never bored. I have such a backlog of things to do that I can't conceivable see myself being bored until well into my 40s.
The more I thought about it, the more I realize how much 700 billion dollars really is in a country of 300 million people. If everyone had a million dollars...that barely dents the 700 billion! i don't get it either...and i was a dang economics major! shows how useful undergraduate degrees truly are
well, it looks like i definitely should write on this. i'll work on it over the weekend.
How would they give everyone a million dollars? The 700 billion only comes out to like a little over 2000 a person. Granted, I would take that and definitely go to best buy and purchase a new tv...
the financial crisis is screwy. it's fun to work in, too. it's not only the people who took out loans and cannot pay them back, but the idiots that agreed to give people loans, knowing full well that while they may make a quick buck at first, the loan will never be paid back. too many companies overextended themselves and no one has the money to make loan payments. so then they look to the government to bail them out, and the government is so fucked up that they can't really do anything either.
Dizzle, do you really believe that if you hand the majority of Americans a check for $1mm, they would use it to pay back their loans? I'm guessing the majority of that money would go into beer, cigarettes, cars, bigger houses, and other random shit that no one needs but will blow free money on. Again, that's sort of how we got into the mess we're in. I love being in line behind someone at Giant Eagle who is willing to pay cash for some Coke and a pack of Virginia Slims, but has to use food stamps to cover the rest of their order.
another part of the problem is now the panic felt by investors and just people with money in the banks in general. so many of my company's clients have tried to pull their money out, especially after Lehman Brothers tanked, but there's nowhere better to take your money and if you pull out now, you're pretty much screwing over anyone else who's just riding this out. no financial institution is doing well right now; if you're going to panic you'd almost be better off putting your money under your mattress and keeping your fingers crossed. my only hope is that since WaMu tanked, they'll stop playing those commercials with naked old men talking up their checking. you know what I'm talking about. I shouldn't post after going to the bar.
Yeah, I should stop using the metric system when I divide.
And kooch, you know those people would buy their cigs w/ food stamps if it was allowed...
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