Ha, I have figured it out. It’s so f’n simple. This is all your doing. I mean, think about it. You’re from New York, you know all this stuff about the financial markets, and you are clearly taking this opportunity to publish numerous informative and well reasoned insights that are increasing the demand for your opinion and thus your notoriety. I don’t see how this couldn’t be your doing.
Please stop your all-out assault on the world financial markets. Come on, it’s one thing the be published in the NY Times, but to have writers at the NY Times telling people to look to you… how much more praise do you need?!!! Please bring the subprime charade to an end! My 401k cannot take it anymore.
**Or at give it a rest until the Alt-A ARMs reset and this whole thing starts over again.**
I see Charles Krauthammer's write-up today was about his prediction of history's judgement of the W administration. He predicts history will be as kind to W as it's been to Truman. hmmmmm
MM just needs to be reminded regularly that Ayn Rand was not an economist and that Libertarianism is not a coherent economic theory. Since MM seems to have adopted the vocation of financial humorist, her ideological bias doesn't really matter much, but vigilance is called for whenever she attempts a serious comment.
I doubt Megan thinks Ayn was an economist, since she never claimed to me one and refered people to the work of real economists. Libertarianism is not any kind of economic theory it is a political movement that contains many economicly literate people.
If this wasn't so terrifying, this would be utterly hilarious. Ben Bernanke is a scholar of the Great Depression and former regional Fed-head. Henry Paulson was one of the most successful Wall Street titans out there. To say that both of these men are flying by the seat of their pants would be to drastically overstate how much confidence we should have that they know what they're doing. Up until two weeks ago, anyone with an MBA or a self described "conservative" was anti-regulation, gung-ho 'let the market sort it out.' Now everybody's watching the Federal Government nationalize the financial sector and praying that it works. The same people who cried "SOCIALISM"! when Hillary Clinton wanted to enact single-payer reforms in healthcare are looking dumb and sweating bricks as the government is buying insurance companies and putting the tax-payer on the hook for people who thought their suburban shack was worth the same as beach front property. If we should take anything away from all of this crisis, its that "fiscal-conservative" and "dumb-ass" are synonymous.
It would be interesting to have, um, some McArdle comment on the, um, TARP bailout bill; you know, the $700 billion bailout bill that gives the Treasury Secretary near dictatorial powers?
I thought this might be of interest to a libertarian.
Instead I guess we'll get to chew on low-grade snark all weekend.
Whatever qualms I may have about Ms. Mcardle, she has never been even within Hubble Telescope view of being an Ayn Randian. Her desciption of herelf as being "moderately libertarian" fits just fine -- lest we forget, she supports a progressive income tax. (It's a pity that she adopted that dimwitted pseudonym of "Jane Galt" for so long; it misled a lot of people who didn't bother to read her as to her overall orientation -- and, in fact, probably explains WHY they didn't bother to read her any further. But even with that, there is no excuse for it if you've actually bothered to read a word she's written.)
It could cost far more than that, as currently written. It gives the treasury secretary the authority to hold up to $700B dollars. However, if he buys $700B worth and sells them for $350B he can purchase another $700B worth to sell for a loss. The bill would also make the treasury secretary accountable to no one on the deals he makes. So a wall street insider gets a near unlimited amount of money to bail out his friends with no accountability. What could possibly go wrong?
I would love to know if the events of the past few weeks have made any of you rethink your basic assumptions about the economy and the proper role of government. If not, why not?
Megan, how can a committed libertarian voice go silent in the midst of the largest incursion of the federal government into the American economy in the history of the country? If you are sick/dealing with a crisis/trapped under something heavy then my apologies. But if not, then I feel compelled to explain a concept you apparently missed while getting your MBA: when demand for your product increases, you should generally ramp up production, not cease production entirely for three days.
Let the record show that when one of the most important events in modern economic history rolled around, this economics blogger could not even be bothered to do the one thing that people expected of her, which was to offer an opinion.
Looks to me from afar that the Wall Street Boardroom Jockeys and their Beltway brethren are eager to throw their compatriots a lifeline. We'll see their congressional pals put on a fight over what to do all week, with the majority party demanding the feds do more. The Dems, I think, see this as a brilliant opportunity to make generous demands for greater goodies in the rescue bill, and that if they lose the congressional fight, the bad economy benefits them more.
Maybe it would be better to let the whole financial system collapse, to hit the economic reset button. If the public is silly enough to elect the party that has wanted the government to micromanage the health insurance and retirement affairs of everyone, let's go ahead and have that. Let's see if they can do anything more than community organizing and rabble rousing.
We'll see things get nasty faster, what with all the promises the Dems have made to wall off the economy from trade and to play Robin Hood by taking more from the dwindling assets of the wealthy. We'll find out how much those pols like it when average citizens are turned into supplicants for more government assistance. Food and fuel rationing will be fun, I'm sure.
Let the record show that when one of the most important events in modern economic history rolled around, this economics blogger could not even be bothered to do the one thing that people expected of her, which was to offer an opinion.
Maybe she takes weekends off. Everybody needs a holiday, as Big Audio Dynamite once sang.
Let the record show that when one of the most important events in modern economic history rolled around, this economics blogger could not even be bothered to do the one thing that people expected of her, which was to offer an opinion.
How's that weekend LCD tan coming along, O lampwick, keyboard warrior? Still pasty white, or have you achieved a delicious French Cream look like me?
Let the Dems have their run at socialism with no one and nothing to plunder. Let 'em freeze in the dark while planning our new carbon-free energy future. Instead of watching them demonstrate how their plans will result in making everything scarce, let them start with obvious, undeniable scarcity.
What do I care. They can't take anything from me. They can't get blood from a turnip.
I've got enough skills and resources to survive. And here in the poorer rural backwoods, we're quite good at getting by on barter if need be. We haven't entirely forgotten the lessons of our grandparents' generation of surviving by working the land, etc.
Those who want Dem socialism should suffer the consequences.
Those who want Dem socialism should suffer the consequences.
Seems to me we have a Republican Administration attempting to force the largest socialist experiment in US history down our throats, and you're calling out Democrats?!! Haha!
I'll give you the benefit of the doubt and assume they have yet to bring the telegraph to your backwoods town and you haven't gotten the news yet.
sorry, buddy. the jig is up. the curtain has pulled back so far as to make a mockery of any argument coming form the Right for at least the next 20 years.
the boogie man arguments won't fly anymore. nope. sorry. the right has shown it's true colors showing a desire to suck on the government teat with a ferocity that rivals anything we can find on the otherside of the atlantic.
the dam has been broken. let it go. you guys tried. and a valient effort it was but the golden goose has been so violated that the authorities had to be called in. and they say they have never seen anything like it before. blood everywhere.
A slight misunderstanding. I'm pulling for the Dems larding up the rescue package and either bringing the federal government to a halt if it fails or dragging down the dollar if it passes. The Dems can then look forward to expanding their majorities as fuel costs approach six to ten dollars per gallon -- and then arguing that we cannot conceivably drill for oil in the US, fachrissake!
Bring down the whole house of cards. Shake up the party of Bush and its abysmal economic policies -- subsidies for agriculture and steel, goodies for ethanol producers, Medicare Part D, NCLB, you name it. It's time to shrink drastically the canvas the federal politicians are all painting on.
Ha, I have figured it out. It’s so f’n simple. This is all your doing. I mean, think about it. You’re from New York, you know all this stuff about the financial markets, and you are clearly taking this opportunity to publish numerous informative and well reasoned insights that are increasing the demand for your opinion and thus your notoriety. I don’t see how this couldn’t be your doing.
Please stop your all-out assault on the world financial markets. Come on, it’s one thing the be published in the NY Times, but to have writers at the NY Times telling people to look to you… how much more praise do you need?!!! Please bring the subprime charade to an end! My 401k cannot take it anymore.
**Or at give it a rest until the Alt-A ARMs reset and this whole thing starts over again.**
I see Charles Krauthammer's write-up today was about his prediction of history's judgement of the W administration. He predicts history will be as kind to W as it's been to Truman. hmmmmm
Big mistake Chris. Now she's gunning for you.
MM just needs to be reminded regularly that Ayn Rand was not an economist and that Libertarianism is not a coherent economic theory. Since MM seems to have adopted the vocation of financial humorist, her ideological bias doesn't really matter much, but vigilance is called for whenever she attempts a serious comment.
I doubt Megan thinks Ayn was an economist, since she never claimed to me one and refered people to the work of real economists. Libertarianism is not any kind of economic theory it is a political movement that contains many economicly literate people.
has the Republican party just bailed itself out of a raison d'etre?
If this wasn't so terrifying, this would be utterly hilarious. Ben Bernanke is a scholar of the Great Depression and former regional Fed-head. Henry Paulson was one of the most successful Wall Street titans out there. To say that both of these men are flying by the seat of their pants would be to drastically overstate how much confidence we should have that they know what they're doing. Up until two weeks ago, anyone with an MBA or a self described "conservative" was anti-regulation, gung-ho 'let the market sort it out.' Now everybody's watching the Federal Government nationalize the financial sector and praying that it works. The same people who cried "SOCIALISM"! when Hillary Clinton wanted to enact single-payer reforms in healthcare are looking dumb and sweating bricks as the government is buying insurance companies and putting the tax-payer on the hook for people who thought their suburban shack was worth the same as beach front property. If we should take anything away from all of this crisis, its that "fiscal-conservative" and "dumb-ass" are synonymous.
It would be interesting to have, um, some McArdle comment on the, um, TARP bailout bill; you know, the $700 billion bailout bill that gives the Treasury Secretary near dictatorial powers?
I thought this might be of interest to a libertarian.
Instead I guess we'll get to chew on low-grade snark all weekend.
Whatever qualms I may have about Ms. Mcardle, she has never been even within Hubble Telescope view of being an Ayn Randian. Her desciption of herelf as being "moderately libertarian" fits just fine -- lest we forget, she supports a progressive income tax. (It's a pity that she adopted that dimwitted pseudonym of "Jane Galt" for so long; it misled a lot of people who didn't bother to read her as to her overall orientation -- and, in fact, probably explains WHY they didn't bother to read her any further. But even with that, there is no excuse for it if you've actually bothered to read a word she's written.)
The only thing humorous about that post is the author's name. (But I'm glad at least a few College Republican frat boys have actual jobs.)
you know, the $700 billion bailout bill
It could cost far more than that, as currently written. It gives the treasury secretary the authority to hold up to $700B dollars. However, if he buys $700B worth and sells them for $350B he can purchase another $700B worth to sell for a loss. The bill would also make the treasury secretary accountable to no one on the deals he makes. So a wall street insider gets a near unlimited amount of money to bail out his friends with no accountability. What could possibly go wrong?
I would love to know if the events of the past few weeks have made any of you rethink your basic assumptions about the economy and the proper role of government. If not, why not?
Megan, how can a committed libertarian voice go silent in the midst of the largest incursion of the federal government into the American economy in the history of the country? If you are sick/dealing with a crisis/trapped under something heavy then my apologies. But if not, then I feel compelled to explain a concept you apparently missed while getting your MBA: when demand for your product increases, you should generally ramp up production, not cease production entirely for three days.
Let the record show that when one of the most important events in modern economic history rolled around, this economics blogger could not even be bothered to do the one thing that people expected of her, which was to offer an opinion.
Looks to me from afar that the Wall Street Boardroom Jockeys and their Beltway brethren are eager to throw their compatriots a lifeline. We'll see their congressional pals put on a fight over what to do all week, with the majority party demanding the feds do more. The Dems, I think, see this as a brilliant opportunity to make generous demands for greater goodies in the rescue bill, and that if they lose the congressional fight, the bad economy benefits them more.
Maybe it would be better to let the whole financial system collapse, to hit the economic reset button. If the public is silly enough to elect the party that has wanted the government to micromanage the health insurance and retirement affairs of everyone, let's go ahead and have that. Let's see if they can do anything more than community organizing and rabble rousing.
We'll see things get nasty faster, what with all the promises the Dems have made to wall off the economy from trade and to play Robin Hood by taking more from the dwindling assets of the wealthy. We'll find out how much those pols like it when average citizens are turned into supplicants for more government assistance. Food and fuel rationing will be fun, I'm sure.
Maybe she takes weekends off. Everybody needs a holiday, as Big Audio Dynamite once sang.
Surely your're joking.
Let the record show that when one of the most important events in modern economic history rolled around, this economics blogger could not even be bothered to do the one thing that people expected of her, which was to offer an opinion.
How's that weekend LCD tan coming along, O lampwick, keyboard warrior? Still pasty white, or have you achieved a delicious French Cream look like me?
No, and don't call me Shirley.
Let the Dems have their run at socialism with no one and nothing to plunder. Let 'em freeze in the dark while planning our new carbon-free energy future. Instead of watching them demonstrate how their plans will result in making everything scarce, let them start with obvious, undeniable scarcity.
What do I care. They can't take anything from me. They can't get blood from a turnip.
I've got enough skills and resources to survive. And here in the poorer rural backwoods, we're quite good at getting by on barter if need be. We haven't entirely forgotten the lessons of our grandparents' generation of surviving by working the land, etc.
Those who want Dem socialism should suffer the consequences.
Those who want Dem socialism should suffer the consequences.
Seems to me we have a Republican Administration attempting to force the largest socialist experiment in US history down our throats, and you're calling out Democrats?!! Haha!
I'll give you the benefit of the doubt and assume they have yet to bring the telegraph to your backwoods town and you haven't gotten the news yet.
PS - Lee has surrendered to Grant at Appomattox.
markg,
sorry, buddy. the jig is up. the curtain has pulled back so far as to make a mockery of any argument coming form the Right for at least the next 20 years.
the boogie man arguments won't fly anymore. nope. sorry. the right has shown it's true colors showing a desire to suck on the government teat with a ferocity that rivals anything we can find on the otherside of the atlantic.
the dam has been broken. let it go. you guys tried. and a valient effort it was but the golden goose has been so violated that the authorities had to be called in. and they say they have never seen anything like it before. blood everywhere.
A slight misunderstanding. I'm pulling for the Dems larding up the rescue package and either bringing the federal government to a halt if it fails or dragging down the dollar if it passes. The Dems can then look forward to expanding their majorities as fuel costs approach six to ten dollars per gallon -- and then arguing that we cannot conceivably drill for oil in the US, fachrissake!
Bring down the whole house of cards. Shake up the party of Bush and its abysmal economic policies -- subsidies for agriculture and steel, goodies for ethanol producers, Medicare Part D, NCLB, you name it. It's time to shrink drastically the canvas the federal politicians are all painting on.