Evening Links 6-7

June 7, 2010

Betting on the bad guys (Adams, WSJ) From the cartoonist behind Dilbert.

Consumer credit increases slightly in April (CR) Credit excluding mortgage debt is back on the rise…ever so slowly…and probably not for long…

Fed paper: Effective homeownership rate much lower than official rate (NY Fed) The official rate from the Census Bureau was 67.2% at the end of ’09. But back out those with negative equity, and the rate is 5.6% lower. And that’s using optimistic house price indices from OFHEO and FHFA. Using Case-Shiller, the homeownership gap is much worse.

BofA settles Countrywide overbilling scams for $108 million (Wyatt, NYT) As mortgage bonds increasingly went bad, Countrywide’s servicing business had to find ways to squeeze out profits. This was a particularly slimy way to do that…

New iPhone presentation crashes on, you guessed it, network trouble (Gizmodo) The crowd laughs it off. iPhone users everywhere unsurprised.

Dow falls below “Flash Crash” low

20 years of growth in Shanghai (skyscrapercity)

Parenting Fail (Abrams, Asylum)

Funny: Calvin and Hobbes on capitalism (imgur)


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[…] From Skyscrapercity.com (via Rolfe Winkler): […]

Posted by Shanghai: 1990 vs. 2010 | SHOUTing GORIlla | Report as abusive

While the Calvin/Hobbes panel probably accurately demonstrates the average guy on the street view of capitalism, I would argue quite vigorously that the portrayal is erroneous.

If anything, the panel represents a government controlled economy (varying from a simple red tape regulated semi-capitalist economy all the way out to a classic soviet communist economy), or a sector of the economy that is government protected or monopolized by the government.

Notice that despite Calvin’s rediculous business model, no competition has come to the market? The only way this can happen is if the government prevents it. And then, of course, the postal service, i mean amtrak, i mean calvin turns to the government for subsidies when its uncompetitive business model fails.

In fact, the only true representation in the panel is how the consumer wisely chooses to not patronize the establishment and forces it to turn to its supporting government or fail

Posted by Beezlebufo | Report as abusive

uncompetitive? noncompetitive?

sigh… english, I hate thee.

Posted by Beezlebufo | Report as abusive

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[…] hard to believe that a city could change this much in 20 years. From Skyscrapercity.com (via Rolfe Winkler via Business Insider.) Apparently, this is abuzz in the twitersphere […]

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