Thursday, November 26, 2009
Tuesday, November 24, 2009
Justin here. We're getting near year-end and so taxes are on the brain. I ran across this graphic from Mint.com. They do some really great visual explanations (they recently did one on reverse mortgages) but, seeing as though my second language is "Charts and Graphs", they could probably make a diagram about paint drying and I'd be fascinated. Enjoy.
Personal FinanceSoftware – Mint.com
Wednesday, November 04, 2009
- He talked about how we got into this mess ('shadow banking', poor regulation, leverage),
- How this was/is a global crisis (Spain, UK, even countries without bubbles felt it because they were connected.)
- What we did right (cut interest rates, stimulus, flexible fed),
- How we get out this crisis quickly (no silver bullet that will save us like railroads, world wars, and IT did for recessions past . . . only remote quick fix could be green technology, but even that has a lot of barriers and lag time, and 10% unemployment is a HUGE number will take a lot of GDP growth to get over),
- How, more likely, to get out of it slowly (possibly unions (which, to my surprise got a round of applause), possible further stimulus, cut interest rates if we could go any lower)
- Final point was that Keynes said "the shortage of capital through use, decay and obsolescence causes a sufficiently obvious scarcity to increase the marginal efficiency" meaning that our ipods will break, our computers will become slow, and our tires will wear out. Although slow, this process will create demand and innovation.