bon bon, I'll agree you have a point but think "rubbish" is a bit strong. It isn't so much that the guy was a dick (though if anything, that's a mild way of putting it). It's that he seemed to consider himself above the rules -- a relative of "the old rules no longer apply" attitude that governed during the boom times.
Well, the credit crunch is caused by the actions of hundreds of people in the market, of which I can state with confidence, do not act like this guy. Sort of the most ridic ad hominem I've ever seen. In general, I think any argument that relies on everyone involved being mendacious or dumb has extremely poor explanatory power.
ETA: I also really don't agree that it had something to do with the old rules not applying, which is a narrative that has dominated in the past ten years or so that moralizes people in the market taking risks. There's no moral here. The capital markets are about taking risks. One time in a hundred, the risk will have a catastrophic effect. It happens. It doesn't mean the people who do it are stupid or evil.
wish I understood this better. It's freaking me out, and I have no idea what it all is, and how it rights itself. Every time I try and figure it out, my eyes glaze over from financial jargon.
Don't feel bad. I can't explain it to Bob Bob, and he has an econ degree and his father is a professor of finance.
As far as the water vs. electricity/gas, I assume it is because water is a resource controlled by the government, and electricity and gas are privately generated resources.
Can anyone explain to me why the water supply is a public utility and the electric and gas lines are private companies, even though they essentially have a regional monopoly?
I blame Reagan.
(Anyway, up here, electric and gas are so heavily regulated they're quasi-public entities anyway.)
I went to Yahoo News to check on the basketball scores and noticed that one of the headlines is about one of my studies. Not that the description has much to do with the study, which was a mathematical model of social perception:
[link]
They have the most amazing 72-Layer Hand-Cut Cream Cheese Biscuits
Guh.... Oo, and they carry them at Whole Foods, apparently. Hm. I might have to go on a quest.
This weekend I need to get a spazzy friend to make firm plans, color my hair, clean clean clean, get groceries, do TWoP stuff, and wash many loads of laundry. And then on Sunday I'll be at my brother's for half the day. So it seems like Saturday's going to suck.
Especially since I have a game I want to spend hours playing but I guess I can't do that. Wah.
So, Rick, you've outed yourself as Correen Farris?
Spring break! WOOOOO!
Well, except that I have to be here two more hours and come in tomorrow. But the point is, the kids are (almost) gone and I'm done scolding them to be quiet during a movie! YAAAAY!
In general, I think any argument that relies on everyone involved being mendacious or dumb has extremely poor explanatory power.
I... don't know. Developing an investment strategy based on the TV series
Flip This House
sounds kinda dumb to me, especially if you develop the strategy after the show's been on a couple of years.
So, Rick, you've outed yourself as Correen Farris?
A former graduate student. We did the study several years ago.
Guh.... Oo, and they carry them at Whole Foods, apparently. Hm. I might have to go on a quest.
They are worth the effort, though they are a bit pricey (as is the restaurant itself).
I went to Yahoo News to check on the basketball scores and noticed that one of the headlines is about one of my studies.
hah! My friend & I were going to have shirts made at one point that would read "Not Flirting, Just Friendly."
Happy Birthday, Mal!!!
