Tuesday, October 21, 2008

Saying what I would say, if I owned a major financial publication.

A lucid look, for a change, at the mess the economy has become.

Well worth your time.


P.S. I got another TINY bit of good work-related news yesterday, so keep up your thoughts/prayers/crop circling.

Posted by Joke at 4:07 PM


  • Blogger meggie posted at 4:54 AM, October 22, 2008  
    I am sure you are much too young, but there was a craze called POSIPOWER about NZ in the '70s.
    It was saying that the power of positive thinking could change your life, basically.
    I will keep sacrificing small insects in the hopes the economy will improve, & your 'lot' in particular, has success.
  • Blogger bluemountainsmary posted at 6:12 AM, October 22, 2008  
    crop circling like crazy over here.
  • Blogger Joke posted at 9:09 AM, October 22, 2008  
    Meggie, bless you for thinking me too young. In fact, I am too non-Kiwi to have any recollection of Posipower although, around-ish the same time, over here we had a similar fad borne by the book The Power of Positive Thinking.

    In the long haul, we should be just fine. It's the short and medium hauls that are leaving scratches and bruises.

  • Blogger Poppy Buxom posted at 9:28 AM, October 22, 2008  
    Bless your heart for finding that article "lucid." It's lucid only insofar as it's possible to keep a second window open for quick Google searches for terms like "mark-to-market."

    Also he derails at the end where he discusses the possibility of abolishing the sales tax ... I have too many relatives living in MA for that to seem like a good idea. I'll listen to Steve Forbes's ideas on that when he's a legal resident of Massachusetts!
  • Blogger Joke posted at 6:10 PM, October 22, 2008  

    Mark-to-market is something that I have been railing against since forever. (For those who aren't up to Googling, it's the change in accounting law forcing companies to put on their books the "market price" of their assets, which sounds fine...until you realize that for some things there ISN'T a market, like mortgages. In which case the bank has to mark it at zero. Lunacy.)

    The MA thing is, I think, related to the income tax, not sales tax and was not the bit related to the economy. That said, it HAS been 230 years since Mass. residents got all hopped up about taxes, and look where that got us.

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