Archive for the ‘Money, money, money….’ Category


The Incomparable Calvin and Hobbes

December 28, 2008


Originally Published 2/16/1992

Originally Published 2/16/1992

A larger version can be found here.

Thanks to Bill Watterson


The Big Three

December 4, 2008

An email I just sent to my US Senators and Congressman.

Senator/Congressman Murray/Cantwell/McDermott,

I support a government loan to the big three American Auto Companies.

While many of their wounds are self inflicted, the current economic crises has affected them in a way that few companies could survive. While I am a believer in a capitalist economy, an economy where good companies win and bad companies lose, the Big Three should not be forced to close their doors because a significant number of the nation’s financial institutions were run by incompetent fools. While any one of them may deserve to go under in the future, this is not the time.

If one or more of these companies fail, I believe that the loss of jobs in the manufacturing sector, in the midst of the recession, will drag the economy down even further, leading to further job losses and declining incomes. For the most part, the people who will suffer the most will be the ones who had very little to do with the auto industry’s poor decisions and that is profoundly unfair.


Joe Grindstaff


Re:Voices from the Grave

October 29, 2008

My intrepid sister used the Google to do a little research and it turns out the quote from Thomas Jefferson isn’t real.

Jefferson’s actual quote is:

“I sincerely believe … that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.”  The reference for the quote is here.

That quote makes a bit more sense as Jefferson had more than a little familiarity with banking establishments.


Voices from the Grave

October 28, 2008

‘I believe that banking institutions are more dangerous to our
liberties than standing armies. If the American people ever allow
private banks to control the issue of their currency, first by
inflation, then by deflation, the banks and corporations that will
grow up around the banks will deprive the people of all property until
their children wake up homeless on the continent their fathers

Thomas Jefferson, 1802

Via Jeff Meford



October 14, 2008


You think our economy melted down. Iceland is in really rough shape.

And really, with a name like Iceland, you wouldn’t expect anything to melt down.

And now, for no reason, a funny picture from Iceland.

(h/t Iceland Studio Journal)


Financial WMDs

October 13, 2008

If you’re interested in an explanation of Derivatives and Credit Swaps, check out this podcast from the This American Life. It places no blame, it’s just an explanation. Well worth listening to.

Also, a few months back, I recommended a blog, Calculated Risk. Needless to say, I spend a lot more time there now-a-days. Check it out.


London Interbank what?

October 7, 2008

Two weeks ago, I had never heard of LIBOR.  Now I know where it is almost everyday.

We certainly live in interesting times.