The Week America’s Economy Almost Died

The terrific National Public Radio / Public Radio International team that brought you May’s fantastic story on the subprime meltdown, The Giant [Global] Pool of Money, have prepared a new show on the ongoing credit crisis to air this weekend on PRI’s This American Life. It will be available for streaming or downloading shortly afterward, […]

Skeptics Caucus! Congressman Brad Sherman!

So there I was, reading random news reports about the horrible bailout bill, and thinking bitter thoughts about our ‘representatives’ in Congress, apparently heedless of the calls and faxes that have been running anywhere from 100-to-1 to 300-to-1 against (“They’re running 50% ‘No’, and 50% ‘Hell No!’”, as Rep. Paul Kanjorski (D-PA) put it). And […]

Google Publicly Backs Gay Marriage

What a good company! Makes our family want to buy more of their stock, or do a search, or something: …while there are many objections to this proposition [banning gay marriage] — further government encroachment on personal lives, ambiguously written text — it is the chilling and discriminatory effect of the proposition on many of […]

Mortgages are less than half the problem

From a Weiss Research white paper on the financial crisis: Although it is true that the current debt crisis in America originated in the mortgage market, it is not accurate to say that the root of the crisis is strictly in this one sector. Rather, the debt crisis has multiple and varied roots, with excessive […]

The View From Over There

A global perspective from Jonathan Freedland, in The Guardian, on our horrible election: If Americans choose McCain, they will be turning their back on the rest of the world, choosing to show us four more years of the Bush-Cheney finger. And I predict a deeply unpleasant shift. Until now, anti-Americanism has been exaggerated and much […]

Worst. Housing. Ever.

For those thinking that a bottom in California housing is near, and that buying now is urgent, I’ve got a message: “Not so much.” Were the Kuznets Cycle to confirm to past patterns, real median CA house prices will not again return to the ’04-’06 levels for another 15-20 yrs., if then, given the longer-term […]