Comments on: There must be something good to say about them

By: Rob

Rob — Wed, 05 Nov 2008 16:57:08 +0000

The lack of regulations on a lot of the activities that caused this particular meltdown are pretty remarkable. Listening to explanations of how money moves around financial institutions in our economy makes you realize that it amounts to legalized high stakes gambling with other people’s money.

By: Jeffrey Fredrick

Jeffrey Fredrick — Wed, 05 Nov 2008 07:10:49 +0000

“Black swan” is a way to say “no one is to blame”, but it isn’t appropriate because there’s nothing unprecedented about financial meltdowns. That’s why we have regulations.

By: Matt Stave

Matt Stave — Tue, 04 Nov 2008 00:42:47 +0000

>But didn’t the pubbies run congress for most of the last 8 years too?

I don’t think the economy turns on a dime, (so to speak), but WRT your metric about specific things like factory activity, I’d be surprised if the data didn’t show things getting worse since the dems took over congress.

Again, though – trying to assign blame for big events like The Recent Economic Unpleasantness is problematic. Annoying as he is, Taleb’s black swan idea seems instructive here

http://en.wikipedia.org/wiki/Black_swan_theory
http://tinyurl.com/49c8x8

I think I pestered you to read his book earlier this year.

By: Kevin

Kevin — Mon, 03 Nov 2008 23:36:02 +0000

Ah – the military-industrial complex. Can never have too much of that.

BTW – I meant my question sincerely, not snarkily. There MUST have been something good.

To a certain extent, the pres sets the agenda on the economy, even if Congress does all the legwork. But didn’t the pubbies run congress for most of the last 8 years too?

By: Matt Stave

Matt Stave — Mon, 03 Nov 2008 23:27:26 +0000

Well, perhaps not “we”

http://tinyurl.com/5ukvpk

Do you think presidents have much control over the economy? More than congress?