Tag Archives: Economics

Are Americans worthy of being saved?

Are Americans worthy of being saved?

During this financial crisis I have been wandering the halls of academia, blog space and the business world and I’m shocked by our people’s lack of comprehension about what is going on in the economy. The misperceptions about the current banking crisis, its seriousness, the implications, and potential solutions defy understanding. There are times when I just shake my head.

I have found that the groups of incomprehension fall into four camps…

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Comments on the current crisis – Regulation

As a follow on to my last post, and in the spirit of more regulation is good (the protest cry from the streets these days following Wall Street’s crisis), here are two ideas where we might be able to do more with less:

Fedealize insurance regulation, and adopt principles based accounting.

As quaint as state insurance regulation is, and as well intentioned as Sarbanes-Oxley (SOX) was, its time for both to go. This is such a no brainer that it will never get done…

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Comments on the current crisis

An angry and probably jealous nation is getting ready to make some big mistakes in financial industry regualtion.

Given that the media has been driven into a psychotic incoherent rage, first over the popularity of Sara Palin, and then by the incomprehensibility of a credit crunch that they really don’t understand but are absolutely convinced was done deliberately by people richer than they, to this there will be only one tolerable response: Criminalize more behavior.

The results will not be good…

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2008 drummers beating in unison

The future wealth of a nation is built with pollution and by the looks of it, the future wealth of China will be awesome.

The scenes from today’s Olympic cycling road race in Beijing were stunning. NBC shot beautiful high definition video of the ancient city with its Asian filigree, curved cornices and dragon motifs…

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Creative destruction, I hope…

There is good news in the bad news of Wall Street’s layoffs, or so Schumpeter would say.

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