Friday, August 27, 2010
Wednesday, August 25, 2010
Wednesday, August 18, 2010
Shame on us if we don’t stop the banks from continuing to fleece the country. They will be happy to blame someone else for the problems they created. In fact they’ve already done it. Do Bank of America or Citibank or JP Morgan or Goldman Sachs take any responsibility for the financial crisis? Do they think the Great Recession has anything to do with predatory lending policies and profiteering on unregulated derivatives, or do they want to lay it all at the feet of people who defaulted on their mortgages?
Monday, August 16, 2010
Friday, August 13, 2010
Fox News (I used to like these guys) Perpetuates the Myth that Unemployment Benefits Make Joblessness Worse.
Sorry, John, but this is pure drivel. The number of people qualifying for unemployment benefits may have changed, but the number of people actually unemployed has not. There is a relationship between length of benefits and average length of joblessness, but it is not a causal relationship as you would have us believe. The increase in benefits, which by the way did not actually increase the total length of benefits but only extended the eligibility window for the full amount, is a response to the real needs of the long term unemployed, not the other way around.
As Harold Meyerson of the Washington Post puts it: "What won't work as an economic solution -- indeed, it amounts to cruel and unusual punishment -- is blaming the unemployed for their failure to find jobs. There are now roughly five unemployed Americans for every open job, according to the Economic Policy Institute's most recent calculations, and that ratio isn't likely to decline much if we leave it to the corporate sector to resume hiring. Corporations have figured out a way to make money without resuming hiring. Their model is premised on not resuming hiring. If the public sector doesn't fill the gap, the era of American prosperity is history."
While extending unemployment benefits is not a viable long-term solution to the problem of unemployment, especially in the current circumstances, it is the humane thing to do, and certainly makes more sense than lining Lloyd Blankfein's pockets with multi-million dollar bonuses while the rest of us strive to crawl out of the smoking ruins.
Thursday, August 12, 2010
|Aderondack chairs...the spectacular view is absolutely essential. Cocktails preferred.|
I got interested in matters of finance and economics because I was curious to know what is going on that is making it so difficult for me to find another job. Admittedly I’ve got a few strikes against me in terms of employability—advanced middle age, narrow industry experience, health issues, increasingly inadequate credentials. Still I have a broad base of practical skills, a passable personality (for an accountant), and a modicum of native intelligence. It ought not to be so difficult to find someone who wants to hire me.
Wednesday, August 11, 2010
|As ye sow, so shall ye reap.|
Monday, August 9, 2010
|Lehman earnings before the collapse. Takes brass balls to make a hood ornament like this.|
Tuesday, August 3, 2010
|The Field of Dreams approach to marketing only works if you are building something really, really cool.|
Monday, August 2, 2010
|Mid 30's Lincoln V12 Victoria. Greyhound hood ornament detail. Lean to be sure, but not a product of lean manufacture.|
Danish philosopher and theologian, Soren Kierkegaard, once said, “Faith is a state of ultimate doubt.” At least he said something very like it. I heard it in college, and, as my attention at the time was mostly attuned to a plump, spooky co-ed named Pat Hillman, I’m not sure I got it exactly right. Now, when I want to know a little more about it and I want to be able to quote the quote with some authority, I find that I can’t find the quote. I find a lot of paraphrasing, which is okay, but I’d really like the quote for this piece, which is about lean manufacturing.