Friday, November 20, 2009

Our trust

Well, 'our' in this sense is the collection of those dependent upon an economy that works which is, essentially, we, the taxpayers, and, in particular, US taxpayers.

What is 'trust' in this sense? We'll have to go into that further, but, whatever it is, its value is worth much less now than before.

In fact, we've been cast to the proverbial winds by those upon whom we placed the trust (it seems that either of the major political parties is as bad as the other). The mania of the train notwithstanding, things are not looking better except for those whose giant pockets are filled by the mechanisms of finance.

The big oops of the past year, actually two years, are now behind us enough to bear some scrutiny and opinion.

For instance, consider what Krugman (thanks to CalculatedRisk for the notice) wrote yesterday in the NY Times about the AIG fiascos. Squander? Yes, indeed. Comments found at the sites are worth the read.

Along the same note, TechTicker mentions Brad DeLong's blog remarks about the issues (will need to look further at this), such as saying that there is more than zero chance of a Depression (out of bullets).

By the way, and speaking of the political parties, we ought to have some serious constraint on term limits (let's say 8 years, however that would be subject to some debate). We need to refresh the blood, continually. Too, remove the influence of those paid meddlers (lobby-ers), and we would all be better off.


04/16/2010 -- Rotten to the core. Does not have to be!!

11/30/2009 -- From 'Our basis' can grow a whole bunch.

Modified: 04/16/2010

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