Critical Section

back to reality

Sunday,  02/22/09  11:44 PM

So it is Sunday night, I had a wonderful few days immersed in cycling, both pro racing and my own, and now I have to go back to real life.  (Cycling is not real life, unfortunately...)  And real life, at least the larger world outside my own little life, is sucking pretty hard at the moment.  Consider...

The crisis of credit, visualized (+part 2).  If you want to understand what's going on, watch this.  It is 11 minutes, but it doesn't feel that long, and it really explains exactly what's going on very well.  And you'll notice that while it explains the problem, it does not give a solution :(

crisis of credit visualized, part 1/2  crisis of credit visualized, part 2/2

One interesting side note, compare the graphics used for the "good" family with those used for the "bad" family.  Wow.  The good family has two kids.  The bad family has four kids, the parents smoke, and they're overweight.  What an amazing comment...

The WSJ quotes a reader: "Now that those of us who have been making steady, on-time payments on our mortgages for years will be paying off others' mortgages through our taxes, can we claim a tax-deduction for our neighbors' mortgage interest too?"

BofA, City shares fall on nationalization fears.  Drudge links this with the headline "to seize or not to seize".  This just feels inevitable to me now, the government is going to nationalize banking, and it isn't going to be pretty.  This is the only solution I see to valuing all those "toxic assets".

Omaba thinksMark Cantor is glad we have a president who thinks.  Sure, but we had one before too, and now we have one without experience in one of the worst crisis we've faced for many years.  And the current prognosis is poor.

The market is shorting Obama's stimulus.  "The election marked a turning point. Investors looked forward to the economic policies crafted by Democrats in Congress and the White House...  Yet, from Nov. 4, 2008 through Feb. 12, 2009, the DJI overall fell 18% - a larger drop than during the Sept-Oct plunge."  The honeymoon is over.

Here's a less nuanced take: Wall Street gives Obama's first month an 'F'.

It was the worst January for the market in 112 years.  Maybe it would have been anyway if McCain had been elected, and maybe it would have been anyway, period.  But when you sit in the big chair, the buck stops there.  And right now, it is not looking pretty...

Whew, sorry, I guess that was a harsh return to reality.  Sucks, eh?

this date in:
About Me

Greatest Hits
Correlation vs. Causality
The Tyranny of Email
Unnatural Selection
On Blame
Try, or Try Not
Books and Wine
Emergent Properties
God and Beauty
Moving Mount Fuji
The Nest
Rock 'n Roll
IQ and Populations
Are You a Bright?
Adding Value
The Joy of Craftsmanship
The Emperor's New Code
Toy Story
The Return of the King
Religion vs IQ
In the Wet
solving bongard problems
visiting Titan
unintelligent design
the nuclear option
estimating in meatspace
second gear
On the Persistence of Bad Design...
Texas chili cookoff
almost famous design and stochastic debugging
may I take your order?
universal healthcare
triple double
New Yorker covers
Death Rider! (da da dum)
how did I get here (Mt.Whitney)?
the Law of Significance
Holiday Inn
Daniel Jacoby's photographs
the first bird
Gödel Escher Bach: Birthday Cantatatata
Father's Day (in pictures)
your cat for my car
Jobsnotes of note
world population map
no joy in Baker
vote smart
exact nonsense
introducing eyesFinder
to space
where are the desktop apps?
still the first bird
electoral fail
progress ratches
2020 explained