Monday, October 27, 2008

Active Tuesday morning here...

Great Monday Night game!!
Chris Johnson is Offensive Rookie of the Year!

Go Titans!
Best offensive line in the NFL this year.

And I know all this, how?
I love justin... justin.tv, that is. Google it. Live streaming of almost all NFL games and many college games. Not great quality at times, a little laggy at times, but hey, beggars can't be choosers!

Tuesday is a rather free day for me at work (well, right now it is), so, watched almost the entire game on justin.tv.

Anyway, besides that, I wanted to comment on a few things.

UW's Willingham to step down at end of season

It's not his fault he coaches a f**ked up Husky team. Well, maybe. He just picks the wrong teams to coach... Irish? Huskies? Look for a WAC team.


Barkley to run for Governer

I would move to Alabama just to vote for Charles. I would vote for him everyday and twice on Sunday... lol!


Oh HELL YEAH!!
The monday night game is over but the person streaming it is letting the stream continue on to Sportscenter... da da de de de, dn dn dn!!!


Bailout for carmakers

What next? I tell you... bailout for airlines too.
I didn't agree with the original $700-800B bailout for financial institutions and definitely don't agree with this new bailout talk for carmakers.
Where are the principles of a free economy? Why the government intervention?
The financial institutions dug their own graves. Not enough risk governance, very loose credit policies, etc, etc. Let those who f**ked up fall by the side. Just like in the animal kingdom, I think it is comparable to genetic selection.
The car companies have been doing very badly for the last 7-10 years. They have made no effort to keep up with the times, and definitely no effort to keep up with the Japanese carmakers. And then there are those damn f**king unions. Well, let them fail and let the unions find jobs for their members. Unions wanted to play hardball. This is what you get for playing hardball and to the carmakers, hire non-union employees!

and lastly...

Fortune.com article on Mark to Market accounting

I have said this many times to people I have spoken with regarding the current economic crisis. If you understand the dynamics, there is really no crisis. However, because of the accounting standards that are mentioned in the article, the financial institutions had no choice in the accounting world. They had to value the real estate and it's derivatives that had little to no value at that moment. It DOESN'T mean that the real estate is worth nothing. Real estate is something that will always be worth something, if not now, eventually. So, those values are not realistic because, in 3, 5, 10 years, when the economy recovers, they will all be worth something again. The crisis is caused by humans. People started panicking and either started selling their investments, thus putting a stress on liquidity for financial institutions and/or starting withdrawing funds from the bank, setting up runs on banks.

Everything we saw, initially, on this economic crisis were all paper based, not real life. The panic and irrationality of peoples' reaction has now caused a much bigger crisis that is much harder to reign back in.

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