Friday, March 27, 2009

Great Uncle Krugman on markets these days
Tom Smith

Galdurnnit in my day we didn't have none of these new fangled computers and such!  A good clerk with a green eyeshade did the job!  And he didn't need no stinkin email neither!  Or yer so-called cell phone! Yappin' all day about what?  About nutthin' that's what!  A bank in my day now that was a bank!  You knew yer money was safe because the Unity States ovva Mercia stood behind it thanks to FDR, that's who!  He saved the country from the fat cats and the big wigs and their fancy pants Wall Street Ways.  Bank opened at 10 and closed at 3 and if that wasn't good enough for you then by God you could come by tomorrow. [Spits tobacco juice.]  Goddam Republicans.

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Tom Smith


Krugman conveniently ignores how the business model required of banks by Depression-era legislation was a primary cause of the Savings and Loan crisis. They were headed toward doom long before "deregulation" took place. So much for the good ol' days.

Posted by: R. Simmons | Mar 27, 2009 11:28:04 AM

You know, this isn't going to do a thing to attract all those readers who are just looking for insightful, thoughtful commentary on the day's events. They'll probably all have to go back to falling asleep at NPR...

Posted by: Bryan | Mar 27, 2009 2:03:06 PM

insightful thoughtful commentary is overrated.

Posted by: Tom Smith | Mar 27, 2009 4:07:16 PM

I find it depressing (and not just economically) that the only question people seem to be capable of asking about the origin of, and solution to, the current economic crisis is, "do we need more or less government regulation/intervention/spending?". I simply don't believe that what's going on can be properly understood through the incredibly narrow prism of ideology-infused public policy. If that's all there were to economics, then it would be a sub-discipline of political science, and the latter is pretty fluffy even when taken as a whole.

Posted by: Dan Simon | Mar 27, 2009 10:01:33 PM

Only an injunction)0f the lessening Can avoid that problem. Defendant: 1)Our name accurately reflected the first BaFfle of the owner of the store.andwe used the word“secret”as a kind of inside ioke because we wanted to keep the new business a secret from a former boss at a competing store.

Posted by: Onitsuka Tiger | Jul 5, 2011 12:26:02 AM