Evening Links

August 27, 2009

Fed says disclosing loans will hurt banks (Bloomberg) That’s sorta the point…

Emergencies inspire crowd cooperation, not panic (BPS Research Digest) I suspect society might also handle financial emergencies better than policy-makers expect.

Bankrupt suppliers seek exec bonuses (Detroit News, ht Mish) “A growing number of bankrupt auto suppliers are seeking court approval to pay tens of millions of dollars in bonuses to key executives, as they shed employees and cut costs.”

U.S. mortgage delinquencies up in July (Reuters)

Case-Shiller confirms false bottom in housing (Mark Hanson) Mark’s expertise is the California real estate market more than anywhere else. That said, he was one of the more prescient commentators out there on housing overall. A lot of folks thought house prices got too high. Most of us had no idea how far they would end up falling. Mark has been on top of the story as long as anyone.

Rapper behind “Roxanne’s Revenge” gets Warner Music to pay for her PhD (NY Daily News) Awesome.

Baseball’s dad of the year (MLB.com) Carrying four kids (fast forward to the end) and still holding wife’s hand. He must do this often b/c the Mrs. seems unimpressed.

Best swing-dancing ever? (YouTube)  Start at the 2:30 mark. 3:27 is awesome.

Inflatable Bag Monsters…


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The Time mag article is 38 YEARS old! Probably older than you are.

What was the point?

Posted by fatbear | Report as abusive

‘I suspect society might also handle financial emergencies better than policy-makers expect.’

Somebody made a comment lately that we all list challenges, but don’t come up with solutions. All levels of society are freaked out at the moment. Let’s look at the environment from a financial angle: the Earth’s diameter is +- 13 000 km’s, the atmosphere +- 100 km’s. Warming gasses don’t ‘leak’ out to the Solar System, so it falls back to Earth. That leaves a narrow margin which is decreasing by the millisecond. From this point of view de-urbanisation looks like the only option to give the large cities and ecospheres a breather. That won’t happen. So what to do when illiquidity has led to insolvency, on a macro, velcro and micro level?:

1. Don’t panic (irrational decisions – gets exploited);
2. Don’t borrow more (debt trap);
3. Don’t sell assets (value will recover at some stage);
4. Don’t artificially inflate assets and reserves;
5. Increase wealth taxes;
6. Cut operational expenses;
7. Talk to your neighbbours to form a local power block/insurance pool;
8. If that fails, talk to your family;
9. If that fails, talk to your friends;
10. If that fails, talk to your enemies;
11. If that fails, negotiate with your creditors;
12. If that fails, talk to the Bank for International Settlements;
13. If that fails, talk to the World Bank;
14. If that fails, talk to the IMF;
15 – 20. If that fails, again, don’t sell assets, don’t pay debts (your creditors don’t really want to write off your debt and needs your business in future), don’t print money, cut operational costs such as external defense spending, increase middle class taxes and then general taxes.

Sooner than later the balance will restore, surely collective budget and trade deficits are set-off by collective surpluses ?

Society easily panics, points fingers and throws tantrums, but invariably has a nest-egg stashed somewhere.


Posted by 20 steps to avoid sequestration/ liquidation | Report as abusive

Before you ask why I wasn’t carrying any of the kids…if you know my husband you would know that this is his thing. I don’t ask him to do arts/crafts, readings or dance around the house and do sing-alongs with me and the kids because that’s my thing. Plus the kids all really love “riding” Daddy at the same time…they even fight for position. This is just one of the things he does that I know he wants the kids to remember when they grow up…and I think it’s great! And YES…he IS Dad of the year and always has been. I’m SO blessed to have him in my life…plus he’s pretty fun to hang out with. Oh BTW…my husband impresses me all of the time…that’s why we have 5 children.

Posted by TheMrs | Report as abusive

A young friend of mine witnessed an emergency on a beach in Malaysia. The Malays panicked, the Chinese watched inactively, the (young, mainly) Europeans co-operated to solve the problem. It could have been a scene out of Somerset Maugham, but my young friend had no knowledge of old-fashioned views – he’s of the generation that’s been indoctrinated not to stereotype, not to be judgemental. Reality, eh?

Posted by dearieme | Report as abusive