Sinking Slowly Beneath the Waves

Nobody quite knew how much trouble we were getting into with our fantasy that Financial Markets that are free are also unregulated. Now Iceland and Ireland are succumbing to a wave of global proportions. The wave of zombie banks will not recede until the Recession becomes a severe Depression in those two tiny nations. It is likely that damage will spread far beyond their borders. If they are the canaries we are the miners in this scenario.

Having the Wrong Debate

There are a lot of debates going on around the nation and the world related to the financial crisis or crises if you would have it so. The world is debating everything about this mess from how it was caused to how to end it. The debate is couched in simple terms and rare jargon complete with complex equations. All of this may be necessary but it is also mostly useless.

Left Flapping in the Breeze

So, our whole economic model may need an overhaul. We had a windstorm last night. The winds were clocked at more than seventy miles per hour at the local airport.A piece of my neighbor’s roof blew off and landed in my yard. Luckily, nothing really serious happened and the roof part is now in the thrash.

The Wealth of Any Nation Belongs to the People Who Create It

Any sweeping statement about wealth is bound to be wrapped up in controversy and tied up in arguments both relevant and irrelevant. The people who create wealth and those who destroy it are often one and the same. Outside of war, the world has never seen destruction of wealth on the scale of what has happened in the current Depression.

Accomplishment

The barriers to accomplishing anything worthwhile are always in place before we conceive of what it is we wish to accomplish. Those barriers are never personally devised by enemies or opponents. They are always there because the task worth doing is always more difficult than the easy things that we can do to keep body and soul together. Of course if no one tries to do the hard things that need to be done, like resolve conflicts and understand complex scientific principles, the world slides down the slippery slope of our own built up errors.

The Weapon of Class Destruction is Merit

Watching the Queen of England and Michelle Obama on TV reminds me of how far we actually have come in human affairs. Since the Henrys ruled in that small nation, long before the British Empire was built and then released back into the wild, class has become quite a bit less meaningful.

The Market is a Nasty Master and a Disrespectful Servant

I hear paeans of praise every day from both sides of our political fence for something called The Market. Few fellow humans have ever been able to satisfactorily explain just what they mean by that incomplete phrase.
 
I'm here to help you out. A market is a place where buyers meet sellers for the purpose of both going home satisfied that they cheated the other.
 

The Creation of Value and the Value of Money

MonopolyWe have suffered a huge destruction of value in the last eighteen months; or have we? It seems more and more as if the years of our recent bubble inflation should teach us some lesson, as painful as the deflation has become for most of us. Doesn’t pain always teach us something? Otherwise the purpose is somewhat missing in the process of experiencing all of that anguish and sense of loss.

Taking Out the Corn Syrup

Or It Isn’t the Corn Stupid It’s the Amount of Sweetener

It is a wonderful life when visions of sugarplums resonate with the lyrics of a Beatles song inside your head. I guess I am a strange Loop too, Mr. Hofstadter. Or at times I am just strangely loopy about all of the young kids in the world. Sometimes I can even remember being one for a minute or two.

Leader Less or Leaderless

We are a people working on a disaster recovery plan today. I am working on disaster recovery here at home at one A.M. in the morning by typing away. My daughter who just lost her job is working at disaster recovery in her dreams at her house. My friend and neighbor is pushing dogs over the fence while counting them and trying to sleep. He is working on disaster recovery too.