tag:blogger.com,1999:blog-34259472224601763762023-06-20T21:38:48.298-07:00Notes from The Great Reckoningday of reckoning<br>
–noun<br>
the time when one is called to account for one's actions, to pay one's debts, or to fulfill one's promises or obligations<br>
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The world is currently facing the greatest economic crisis since The Great Depression. There's lots of opinions and theories flying around about the causes from both ends of the political spectrum. I'd like to share some of my favorites.The Boyfriendhttp://www.blogger.com/profile/14774148502954438514noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-3425947222460176376.post-39921381425164459482009-03-29T19:33:00.000-07:002009-03-29T19:35:35.776-07:00The Quiet Coup<a href="http://www.theatlantic.com/doc/200905/imf-advice">The Quiet Coup</a> by Simon Johnson, former Chief Economist of the IMFThe Boyfriendhttp://www.blogger.com/profile/14774148502954438514noreply@blogger.com0tag:blogger.com,1999:blog-3425947222460176376.post-49897694341823747402009-03-11T17:11:00.000-07:002009-03-11T17:15:10.681-07:00<a href="http://www.ft.com/cms/s/0/c6c5bd36-0c0c-11de-b87d-0000779fd2ac.html">Seeds of its own destruction</a> by Martin Wolf, <a href="http://www.ft.com">Financial Times</a>The Boyfriendhttp://www.blogger.com/profile/14774148502954438514noreply@blogger.com0tag:blogger.com,1999:blog-3425947222460176376.post-70722173488409148422009-03-06T12:31:00.000-08:002009-03-06T12:38:33.200-08:00Recipe for Disaster: The Formula That Killed Wall StreetFelix Salmon from <a href="http://www.wired.com">Wired</a> writes about David X. Li's Gaussian copula function which was used to predict risk of default.<br><br /><br><br /><a href="http://www.wired.com/techbiz/it/magazine/17-03/wp_quant?currentPage=all">Recipe for Disaster: The Formula That Killed Wall Street</a>The Boyfriendhttp://www.blogger.com/profile/14774148502954438514noreply@blogger.com0tag:blogger.com,1999:blog-3425947222460176376.post-19323762720201943702009-03-02T12:39:00.000-08:002009-03-02T12:53:28.962-08:00Dean Baker: The Santelli Screed Hits Wrong Target on Mortgage BailoutDean Baker, co-director of the Center for Economic Policy Research, writes about how Rick Santelli's rant about "loser homeowners" is misdirected on <a href="http://www.truthout.org/030209A">truthout.org</a>.<br /><br /><a href="http://www.truthout.org/030209A">The Santelli Screed Hits Wrong Target on Mortgage Bailout</a><br /><br /><div>Joan Walsh, editor-in-chief of Salon.com <a href="http://www.salon.com/opinion/walsh/politics/2009/03/02/class_warfare/index.html">blogs</a> about the media coverage of "Class Warfare" in response to the <a href="http://www.whitehouse.gov/omb/assets/fy2010_new_era/A_New_Era_of_Responsibility2.pdf">2010 Federal Budget</a> and <a href="http://www.recovery.gov/">American Recovery and Reinvestment Act</a> </div>The Boyfriendhttp://www.blogger.com/profile/14774148502954438514noreply@blogger.com2tag:blogger.com,1999:blog-3425947222460176376.post-7935582322668661292009-02-27T09:06:00.000-08:002009-02-27T09:20:34.783-08:00Robert Reich: Why We Need Stronger Unions, and How to Get ThemThis is a blog entry by Robert Reich (former Labor Secretary under Bill Clinton) from January 27, 2009. Even though it's a few weeks old, I wanted to post this because I think Reich gets to the heart of our current economic crisis. In a nutshell, labor has been receiving a diminishing share of the prosperity which they helped create.<div><br /></div><div><a href="http://robertreich.blogspot.com/2009/01/why-we-need-stronger-unions-and-how-to.html">Robert Reich: Why We Need Stronger Unions, and How to Get Them</a><br /><div><br /></div><div><br /><div><br /></div><div><br /></div></div></div>The Boyfriendhttp://www.blogger.com/profile/14774148502954438514noreply@blogger.com0tag:blogger.com,1999:blog-3425947222460176376.post-75885689551750192842009-02-27T08:54:00.000-08:002009-02-27T09:03:50.431-08:00Book of the WeekEach week I'll try to recommend a book that I feel provides insight into how THE ECONOMY works. I'll start with Richard Douthwaite's <span style="font-style:italic;">Ecology of Money</span>. If you truly want to understand how banks work and how "wealth" gets distributed, this is the book to read.<br /><br />Richard Douthwaite is a co-founder of the The Foundation for the Economics of Sustainability (FEASTA), an economic think-tank based in Ireland.<br /><br />A PDF version of the book is available for free download at the FEASTA web site:<br /><a href="http://www.feasta.org/documents/moneyecology/contents.htm">http://www.feasta.org/documents/moneyecology/contents.htm</a>The Boyfriendhttp://www.blogger.com/profile/14774148502954438514noreply@blogger.com0tag:blogger.com,1999:blog-3425947222460176376.post-63530701189340246182009-02-26T11:15:00.000-08:002009-02-26T11:19:26.765-08:00Paul Craig Roberts: How the Economy was LostArticle by Paul Craig Roberts, former Assistant Treasury Secretary under Ronald Reagan, from <a href="www.counterpunch.org">counterpunch.org</a>.<br /><br><br /><a href="http://www.counterpunch.org/roberts02242009.html">How the Economy was Lost</a>The Boyfriendhttp://www.blogger.com/profile/14774148502954438514noreply@blogger.com0