Uh oh:
The “R” Word
April 7, 2008 5:00pm by Barry Ritholtz
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Looks pretty surrealistic… Not really getting it…
What is reality in economics? A thought just came to me that due to the role of expectations, reality in economics is not what is THERE but what people think is there… So is there actually anything like economic reality?
But that’s not a new thought…
Remy Piwowarski
Exec. Director
Economics International Open Forum
http://www.economicsinternational.blogspot.com/
(R)ushmore? Naw…
Remy,
So here I thought Gertrude Stein was taking about Oakland Ca when she said “there is no there there”, but instead she was referring to economics! Who knew?!
Yeah, there is an economic reality. and the evidence for it is in rising inflation, permanently higher oil prices, falling corporate earnings, increased unemployment, higher home mortgage defaults, etc., etc., and of course, etc. Sound familiar yet?
no worries, the Chinese Economy Stimulus Package of 2008 will solve everything. be sure to take yer $600 down to Walmart and keep a Chinese worker employed for the rest of the year.
Joseph L. Havlin
Hong Kong
I like this radio interview with Micheal Greenberger. It explains the silly bets the banks are making and confirms what George Soros said in the his recent interview regarding regulation. See TBP previous posts. I’m 41. I was 21 in 1987 when the stock market crashed. I still think of myself as young, deluded I know, I can’t believe that anyone my age or older would buy into the idea that house prices could not fall and that massive bets could be made on it. This leads me to believe that the players at the banks are younger than me. I find this perplexing.
http://www.npr.org/templates/player/mediaPlayer.html?action=1&t=4&islist=true&id=13&d=04-03-2008
I hope this works…here’s the link
The link to the interview is here …last try
http://www.npr.org/templates/player/mediaPlayer.html?action=1&t=4&islist=true&id=13&d=
Up until now, internally, they’ve referred to it as “Undisclosed Location, Location, Location Problem.”