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    <title>Pinboard (Vaguery)</title>
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    <description>recent bookmarks from Vaguery</description>
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	<rdf:li rdf:resource="http://www.cringely.com/2015/06/24/the-u-s-computer-industry-is-dying-and-ill-tell-you-exactly-who-is-killing-it-and-why/"/>
	<rdf:li rdf:resource="http://stumblingandmumbling.typepad.com/stumbling_and_mumbling/2014/11/the-cold-war-isnt-over.html"/>
	<rdf:li rdf:resource="http://arxiv.org/abs/1402.4783"/>
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	<rdf:li rdf:resource="http://arxiv.org/abs/1401.8026"/>
	<rdf:li rdf:resource="http://crookedtimber.org/2014/01/22/new-old-keynesianism/"/>
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	<rdf:li rdf:resource="http://arxiv.org/abs/1309.2130"/>
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	<rdf:li rdf:resource="http://theincidentaleconomist.com/wordpress/money-begets-money/"/>
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	<rdf:li rdf:resource="http://www.rollingstone.com/politics/news/the-great-american-bubble-machine-20100405"/>
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	<rdf:li rdf:resource="http://harpers.org/archive/2012/01/0083752"/>
	<rdf:li rdf:resource="http://epicureandealmaker.blogspot.com/2012/03/three-crowd.html"/>
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	<rdf:li rdf:resource="http://consumerist.com/2011/05/reader-wins-7500-after-suing-debt-collector.html"/>
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	<rdf:li rdf:resource="http://seekingalpha.com/article/222577-the-great-deleveraging-lie?source=feed"/>
	<rdf:li rdf:resource="http://www.overcomingbias.com/2010/07/arrogant-professionals.html"/>
	<rdf:li rdf:resource="http://dshort.com/articles/2010/total-return-comparison-01.html"/>
	<rdf:li rdf:resource="http://www.nakedcapitalism.com/2010/08/pimcos-crescenzi-gets-award-for-artless-candor.html"/>
	<rdf:li rdf:resource="http://www.nakedcapitalism.com/2010/08/getting-ugly-on-the-commercial-real-estate-front.html"/>
	<rdf:li rdf:resource="http://www.angrybearblog.com/2010/08/is-joe-hill-finally-dead-ballad-of-joe.html?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+blogspot%2FHzoh+(Angry+Bear)"/>
	<rdf:li rdf:resource="http://slacktivist.typepad.com/slacktivist/2010/06/rendering-unto-krugman.html"/>
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	<rdf:li rdf:resource="http://seekingalpha.com/article/209155-is-the-next-great-depression-avoidable?source=feed"/>
	<rdf:li rdf:resource="http://robertreich.org/post/650145579/why-obama-should-put-bp-under-temporary-receivership"/>
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  </channel><item rdf:about="https://www.ianwelsh.net/veblens-idea-of-business-versus-industry/">
    <title>Veblen’s Idea of Business Versus Industry | Ian Welsh</title>
    <dc:date>2020-03-19T12:27:17+00:00</dc:date>
    <link>https://www.ianwelsh.net/veblens-idea-of-business-versus-industry/</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA[To Veblen the money economy was “institutional,” and not a natural requirement of humanity. He used “institution” in a broad and new sense, as a method of action arrived at by habituation and convention and generally agreed upon. Most “orthodox” economists would have agreed with this, but they presumed that “institutions,” in the ordinary sense of the term, arose in response to men’s needs and represented the state to which man had progressed in his struggle with nature. Veblen criticized this view as ignoring what the institution had become, an end rather than a means. To him “institutions” of price, property, and contract were active forces rather than passive embodiments of nature to which man adjusted himself by pleasure and pain. “Institutions” were themselves the embodiments and channels of the activity of man. Habits of thought were created by habits of action. Money, therefore, could not be viewed as a medium of exchange, and the successful large businessman ceased to be merely an intermediary in the efficient organization of industrial forces to satisfy men’s wants. With money and securities made ends in themselves, or, more accurately, with the complex of “institutions” comprising modern business given an active or creative role, corporation finance became the main character in the drama. On its side, the machine technology, which comprised the industrial “institutions,” could not be viewed merely as an element of production, different only in degree from artisan labor, but as a comprehensive and delicate process with a distinctive life of its own. Now the objective of the pecuniary experts was neither the supplying of goods to the consumer nor the efficiency of industry, but the accumulation of funded wealth, the making of money. Every step in the never-ceasing integration of industry, however, provided them with greater opportunities to achieve their ends, and these in their turn disturbed the arrangements of industry.

]]></description>
<dc:subject>Veblen political-economy to-read capitalism economics financial-crisis finance</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:7b0e64fbac45/</dc:identifier>
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	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:political-economy"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:to-read"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:capitalism"/>
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<item rdf:about="https://stateofnatureblog.com/adam-kotsko-political-theology-neoliberalism/">
    <title>Adam Kotsko The Political Theology of Neoliberalism - state of nature</title>
    <dc:date>2018-10-01T11:39:49+00:00</dc:date>
    <link>https://stateofnatureblog.com/adam-kotsko-political-theology-neoliberalism/</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA[Neoliberals do rely on libertarian rhetoric, but libertarianism is basically neoliberalism for fools. When neoliberals are talking amongst themselves, they always acknowledge that a strong state is absolutely necessary to their agenda. This is because markets do not spontaneously arise in the absence of state interference, or in other words, markets are not natural. They must be artificially constructed, and so one way of defining neoliberalism is as a project to use state power to cultivate or create markets so that people will be forced to be free in the neoliberal sense.

]]></description>
<dc:subject>neoliberalism interview quotes hey-I-know-this-guy to-write-about fascism political-economy financial-crisis capitalism worldview</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:ba988e40d35a/</dc:identifier>
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<item rdf:about="http://commonstransition.org/michel-bauwens-the-transition-will-not-be-smooth-sailing/">
    <title>Michel Bauwens: The Transition Will Not Be Smooth Sailing - Commons TransitionCommons Transition</title>
    <dc:date>2015-06-27T12:23:15+00:00</dc:date>
    <link>http://commonstransition.org/michel-bauwens-the-transition-will-not-be-smooth-sailing/</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA[In her book Owning Our Future: The Emerging Ownership Revolution, Marjorie Kelly aptly defines the challenge that awaits us: moving from extractive capital to generative capital. The good news is that this process has already started. First of all, because it is impossible to hide the fact that civil society has now become a value creator. This is an important point, as civil society was mostly absent from the “classic” capitalist equation. In addition, we are beginning to witness a change in market structures: commercial spheres of a new kind are developing around the Commons. Enspiral [a collaborative network of social entrepreneurs], in New Zealand, is the perfect example of this type of entrepreneurial coalition.]]></description>
<dc:subject>peer-to-peer peer-production economics to-read financial-crisis cultural-assumptions</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:729b134e1b02/</dc:identifier>
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</item>
<item rdf:about="http://www.cringely.com/2015/06/24/the-u-s-computer-industry-is-dying-and-ill-tell-you-exactly-who-is-killing-it-and-why/">
    <title>I, Cringely The U.S. computer industry is dying and I’ll tell you exactly who is killing it and why - I, Cringely</title>
    <dc:date>2015-06-27T11:53:23+00:00</dc:date>
    <link>http://www.cringely.com/2015/06/24/the-u-s-computer-industry-is-dying-and-ill-tell-you-exactly-who-is-killing-it-and-why/</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA[Now look at the American IT industry in a similar light. American companies have been pretending to offer a superior product for a superior price while simultaneously cutting costs and cheating customers. Do you think IBM respects its customers? They don’t. But what if they did? What if IBM — or any other U.S. IT services company for that matter — actually offered the kind of customer service they pretend they do? What if they solved customer problems instantly? What if they anticipated customer problems and solved them before those problems even appeared? You think that can’t be done? It can be done. And the company that can do it will be able to charge whatever they like and customers will gladly pay it.

True mastery, that’s what we’ve lost. No, we haven’t lost it: we threw it away.

]]></description>
<dc:subject>corporatism business-culture cultural-assumptions financial-crisis bigger-than-just-that</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:819ababf6bca/</dc:identifier>
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	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bigger-than-just-that"/>
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</item>
<item rdf:about="http://stumblingandmumbling.typepad.com/stumbling_and_mumbling/2014/11/the-cold-war-isnt-over.html">
    <title>Stumbling and Mumbling: The Cold War isn't over</title>
    <dc:date>2014-11-09T13:29:44+00:00</dc:date>
    <link>http://stumblingandmumbling.typepad.com/stumbling_and_mumbling/2014/11/the-cold-war-isnt-over.html</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA[Herein, though, lies a paradox. Although the cold warriors were fond of pointing out that centrally planned economies were a stupid idea, they didn't tell us that centrally planned firms were a bad one. Nor do they do so today, even though the evidence against them has grown substantially.

]]></description>
<dc:subject>worklife history-writ-in-the-present Cold-War political-economy models-and-modes politics financial-crisis bankers-should-start-avoiding-lampposts-right-about-now</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
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<item rdf:about="http://arxiv.org/abs/1402.4783">
    <title>[1402.4783] Mapping systemic risk: critical degree and failures distribution in financial networks</title>
    <dc:date>2014-08-31T12:32:59+00:00</dc:date>
    <link>http://arxiv.org/abs/1402.4783</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA[The 2008 financial crisis illustrated the need for a thorough, functional understanding of systemic risk in strongly interconnected financial structures. Dynamic processes on complex networks being intrinsically difficult, most recent studies of this problem have relied on numerical simulations. Here we report analytical results in a network model of interbank lending based on directly relevant financial parameters, such as interest rates and leverage ratios. Using a mean-field approach, we obtain a closed-form formula for the "critical degree", viz. the number of creditors per bank below which an individual shock can propagate throughout the network. We relate the failures distribution (probability that a single shock induces F failures) to the degree distribution (probability that a bank has k creditors), showing in particular that the former is fat-tailed whenever the latter is. Our criterion for the onset of contagion turns out to be isomorphic to the condition for cooperation to evolve on graphs and social networks, as recently formulated in evolutionary game theory. This remarkable connection supports recent calls for a methodological rapprochement between finance and ecology.
]]></description>
<dc:subject>economics financial-crisis complexology simulation network-theory experiment rather-interesting nudge-targets consider:feature-selection consider:network-patterns</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:441d354ee4b5/</dc:identifier>
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	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:experiment"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:rather-interesting"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:nudge-targets"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:consider:feature-selection"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:consider:network-patterns"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://notesonatheory.wordpress.com/2014/06/02/culture-of-smartness/">
    <title>Wall Street and the School House Part I: The Culture of Smartness | Notes on a Theory...</title>
    <dc:date>2014-06-03T10:39:21+00:00</dc:date>
    <link>http://notesonatheory.wordpress.com/2014/06/02/culture-of-smartness/</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA[But the culture of smartness is not just found at the top.  Teach for America (TFA) is a nonprofit with origins in a Princeton undergraduate thesis by its founder, Wendy Kopp. It places recent graduates, generally without education backgrounds, as teachers across the country.  TFA claims it recruits “a diverse group of leaders with a record of achievement” (just not in educating), and Kopp explained TFA was designed to “make teaching in low-income communities an attractive choice for top grads by surrounding it with an aura of status and selectivity.” While part of the original justification for TFA was that it would address shortages of teachers in particular localities, in an environment where school closures and massive teacher firings, it’s hard to suggest this is a real problem. Instead, TFA teachers are being brought into cities like Chicago, where they are replacing far more experienced educators, who often were trained at less prestigious institutions.  Like Wall Street recruits, they go through a brief  five-week training, under the assumption that smart, ambitious young people can better address student needs than those with education degrees and experience.  And interestingly, for many, after their two-year stint (assuming they make it that long), they move on Wall Street.  But TFA also prides itself with the role its members play in education reform after leaving their teaching positions. As Kenzo Shibata explained, “TFA is a self-perpetuating organization. Teach for two years, burn out, go to law school, become a policy maker, and make policies that expand TFA.”

]]></description>
<dc:subject>public-policy cultural-norms cultural-assumptions entrepreneurship-as-pathology solutionism financial-crisis interesting sociology</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:6d8bdbc34b89/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:public-policy"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:cultural-norms"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:cultural-assumptions"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:entrepreneurship-as-pathology"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:solutionism"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:interesting"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:sociology"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="https://www.jacobinmag.com/2014/05/against-austerity/">
    <title>Against Austerity | Jacobin</title>
    <dc:date>2014-05-15T11:50:53+00:00</dc:date>
    <link>https://www.jacobinmag.com/2014/05/against-austerity/</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA[The dominant ideology, the ideology of the ruling class, is not a malign conspiracy, but nor is it stupidity. The ruling class lives this ideology, because it resonates with its interests, its experience, and its accumulated expertise.

]]></description>
<dc:subject>austerity economics financial-crisis public-policy</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:2668ea3ad3c6/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:austerity"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:economics"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:public-policy"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://arxiv.org/abs/1401.8026">
    <title>[1401.8026] Elimination of systemic risk in financial networks by means of a systemic risk transaction tax</title>
    <dc:date>2014-03-13T21:43:28+00:00</dc:date>
    <link>http://arxiv.org/abs/1401.8026</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA[Financial markets are exposed to systemic risk (SR), the risk that a major fraction of the system ceases to function and collapses. Since recently it is possible to quantify SR in terms of underlying financial networks where nodes represent financial institutions, and links capture the size and maturity of assets (loans), liabilities, and other obligations such as derivatives. We show that it is possible to quantify the share of SR that individual liabilities in a financial network contribute to the overall SR. We use empirical data of nation-wide interbank liabilities to show that a few liabilities carry the major fraction of the overall SR. We propose a tax on individual transactions that is proportional to their contribution to overall SR. If a transaction does not increase SR it is tax free. With an agent based model (CRISIS macro-financial model) we demonstrate that the proposed Systemic Risk Tax (SRT) leads to a self-organized re-structuring of financial networks that are practically free of SR. ABM predictions agree remarkably well with the empirical data and can be used to understand the relation of credit risk and SR.
]]></description>
<dc:subject>financial-crisis public-policy taxes network-theory performance-measure multiobjective-optimization maybe-not</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:c844ae49e2e1/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:public-policy"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:taxes"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:network-theory"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:performance-measure"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:multiobjective-optimization"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:maybe-not"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://crookedtimber.org/2014/01/22/new-old-keynesianism/">
    <title>New Old Keynesianism — Crooked Timber</title>
    <dc:date>2014-01-24T11:27:50+00:00</dc:date>
    <link>http://crookedtimber.org/2014/01/22/new-old-keynesianism/</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA[I haven’t said much about the other side of the debate: the New Classical/Chicago/austerity camp. That’s because, on this as on most issues (climate science, energy, environmental hazards etc), the political right has immunised itself against evidence that conflicts with its desired views. The difference between economics and the natural sciences is that natural scientists have almost uniformly rejected the Republican/right position (around 6 per cent of scientists identify as Republicans). By contrast, in economics, there are plenty of Nobel prizewinners (yes, yes I know) on both sides.

]]></description>
<dc:subject>economics public-policy theory-and-practice-sitting-in-a-tree bankers-should-start-avoiding-lampposts-right-about-now financial-crisis</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:139ef66abc16/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:economics"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:public-policy"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:theory-and-practice-sitting-in-a-tree"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bankers-should-start-avoiding-lampposts-right-about-now"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.nytimes.com/2013/12/27/opinion/krugman-the-fear-economy.html?_r=0">
    <title>The Fear Economy - NYTimes.com</title>
    <dc:date>2014-01-01T12:54:48+00:00</dc:date>
    <link>http://www.nytimes.com/2013/12/27/opinion/krugman-the-fear-economy.html?_r=0</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA[Is there any evidence that this is happening? And how. The economic recovery has, as I said, been weak and inadequate, but all the burden of that weakness is being borne by workers. Corporate profits plunged during the financial crisis, but quickly bounced back, and they continued to soar. Indeed, at this point, after-tax profits are more than 60 percent higher than they were in 2007, before the recession began. We don’t know how much of this profit surge can be explained by the fear factor — the ability to squeeze workers who know that they have no place to go. But it must be at least part of the explanation. In fact, it’s possible (although by no means certain) that corporate interests are actually doing better in a somewhat depressed economy than they would if we had full employment.

]]></description>
<dc:subject>economics financial-crisis employment bankers-should-start-avoiding-lampposts-right-about-now</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:32637ec37c2f/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:economics"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:employment"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bankers-should-start-avoiding-lampposts-right-about-now"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.zerohedge.com/news/2013-12-31/when-risk-separated-gain-system-doomed">
    <title>When Risk Is Separated From Gain, The System Is Doomed | Zero Hedge</title>
    <dc:date>2014-01-01T12:25:30+00:00</dc:date>
    <link>http://www.zerohedge.com/news/2013-12-31/when-risk-separated-gain-system-doomed</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA[I suspect 2014 will be the year--after five long years of the same battle plan--that the total and complete failure of this strategy will be revealed to all. The Fed and Obama administration are steaming their flagships toward the booming guns on the horizon, confident of victory even as the undetected squadrons of risk are high above, setting their bombsites on the foaming white wakes of hubris below.
]]></description>
<dc:subject>financial-crisis bankers-should-start-avoiding-lampposts-right-about-now I-tend-to-agree</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:bd218479529c/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bankers-should-start-avoiding-lampposts-right-about-now"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:I-tend-to-agree"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.nakedcapitalism.com/2013/11/yanis-varoufakis-ponzi-austerity-a-definition-and-an-example.html">
    <title>Yanis Varoufakis: Ponzi Austerity – A Definition and an Example « naked capitalism</title>
    <dc:date>2013-11-16T19:07:59+00:00</dc:date>
    <link>http://www.nakedcapitalism.com/2013/11/yanis-varoufakis-ponzi-austerity-a-definition-and-an-example.html</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA[Ponzi austerity is the inverse of Ponzi growth. Whereas in standard Ponzi (growth) schemes the lure is the promise of a growing fund, in the case of Ponzi austerity the attraction to bankrupted participants is the promise of reducing their debt, so as to liberate them from insolvency, through a combination of ‘belt tightening’, austerity measures and new loans that provide the bankrupt with necessary funds for repaying maturing debts (e.g. bonds). As it is impossible to escape insolvency in this manner, Ponzi austerity schemes, just like Ponzi growth schemes, necessitate a constant influx of new capital to support the illusion that bankruptcy has been averted. But to attract this capital, the Ponzi austerity’s operators must do their utmost to maintain the façade of genuine debt reduction.

]]></description>
<dc:subject>financial-crisis politics public-policy bankers-should-start-avoiding-lampposts-right-about-now</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:69dd1a3a5938/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:politics"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:public-policy"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bankers-should-start-avoiding-lampposts-right-about-now"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://arxiv.org/abs/1309.2130">
    <title>[1309.2130] The Interrupted Power Law and The Size of Shadow Banking</title>
    <dc:date>2013-09-20T12:42:58+00:00</dc:date>
    <link>http://arxiv.org/abs/1309.2130</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA[Using public data (Forbes Global 2000) we show that the distribution of asset sizes for the largest global firms follows a Pareto distribution in an intermediate range that is "interrupted" by a sharp cutoff in its upper tail, which is totally dominated by financial firms. This contrasts with a large body of empirical literature which finds a Pareto distribution for firm sizes both across countries and over time. Pareto distributions are generally traced back to a mechanism of proportional random growth, based on a regime of constant returns to scale: this makes our evidence of an "interrupted" Pareto distribution all the more puzzling, because we provide evidence that financial firms in our sample operate in such a regime. 
We claim that the missing mass from the upper tail of the asset size distribution is a consequence of shadow banking activity and that it provides an estimate of the size of the shadow banking system. This estimate -- that we propose as a shadow banking index -- compares well with estimates of the Financial Stability Board until 2009, but it shows a sharper rise in shadow banking activity after 2010.
]]></description>
<dc:subject>economics financial-crisis finance community-detection-might-also-be-useful power-laws because-of-that-fair-trial-joke but-also-interesting</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:7aa2cff8122e/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:economics"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:finance"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:community-detection-might-also-be-useful"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:power-laws"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:because-of-that-fair-trial-joke"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:but-also-interesting"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.nakedcapitalism.com/2013/08/has-the-shale-bubble-already-burst.html">
    <title>Has the Shale Bubble Already Burst? « naked capitalism</title>
    <dc:date>2013-08-31T14:22:35+00:00</dc:date>
    <link>http://www.nakedcapitalism.com/2013/08/has-the-shale-bubble-already-burst.html</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA[The sharp inflection points for shale gas wells result from a well-known drawback of horizontal drilling and hydraulic fracturing technologies. Production peaks for a year or two but then the initial flow peters out. Overall lifespan of shale wells in Texas is about 8 years. Drilling company must continuously invest in the new wells or refrack the old ones. In comparison conventional, vertically drilled wells demonstrate more stable output for 20-30 years.

Fracking business model in 2009-2012 was based on enormous cashflow from investors attracted by tall promises of natural gas bonanza. At the same time shale wells were considerably underperforming in dollar terms making the whole business a very risky venture. Lack of statistics was sugar coated by lucrative promises.]]></description>
<dc:subject>energy bubble public-policy financial-crisis startup-culture-must-die</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:31dea8a223fc/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:energy"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bubble"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:public-policy"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:startup-culture-must-die"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.nakedcapitalism.com/2013/08/david-dayen-regulatory-apparatus-to-provide-full-employment-for-chroniclers-of-future-bailouts-as-useless-mortgage-origination-rules-introduced.html">
    <title>David Dayen: Regulatory Apparatus To Provide Full Employment For Chroniclers of Future Bailouts, as Useless Mortgage Origination Rules Introduced « naked capitalism</title>
    <dc:date>2013-08-31T10:31:28+00:00</dc:date>
    <link>http://www.nakedcapitalism.com/2013/08/david-dayen-regulatory-apparatus-to-provide-full-employment-for-chroniclers-of-future-bailouts-as-useless-mortgage-origination-rules-introduced.html</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA[As for regulation inhibiting private capital, it’s really quite the opposite. The wild west show that is private label securitization has kept private investors away from the market for the last five years. Further deregulation will only cement that wariness.

]]></description>
<dc:subject>financial-crisis corporatism bankers-should-start-avoiding-lampposts-right-about-now public-policy regulation</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:89c0c93703f0/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:corporatism"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bankers-should-start-avoiding-lampposts-right-about-now"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:public-policy"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:regulation"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.nakedcapitalism.com/2013/08/bill-black-rajan-calls-krugman-paranoid-for-criticizing-reinhart-and-rogoffs-research.html">
    <title>Bill Black: Rajan Calls Krugman “Paranoid” for Criticizing Reinhart’s and Rogoff’s Research « naked capitalism</title>
    <dc:date>2013-08-14T18:46:30+00:00</dc:date>
    <link>http://www.nakedcapitalism.com/2013/08/bill-black-rajan-calls-krugman-paranoid-for-criticizing-reinhart-and-rogoffs-research.html</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA[Theoclassical economists did not simply assume away finance and money. By assuming finance and money away they implicitly assumed away fraud and the essential regulatory cops on the beat. Theoclassical economists pushed to eviscerate the institutional protections such as effective financial regulation and regulators that had helped ensure “that the financial plumbing worked in the background” and created the criminogenic environments that led to the epidemics of control fraud that drive our recurrent, intensifying crises. Economists ignored the warnings and the policies recommended by another Laureate, George Akerlof. Akerlof and Paul Romer wrote a classic article in 1993 entitled “Looting: The Economic Underworld of Bankruptcy for Profit.” They made this passage the conclusion of their paper in order to give the message special emphasis.

]]></description>
<dc:subject>economics infighting austerity financial-crisis what-we-need-is-a-kind-of-non-prophet-economics</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:994010aaea25/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:economics"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:infighting"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:austerity"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:what-we-need-is-a-kind-of-non-prophet-economics"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.salon.com/2013/08/12/your_mortgage_documents_are_fake/">
    <title>Your mortgage documents are fake! - Salon.com</title>
    <dc:date>2013-08-13T21:50:09+00:00</dc:date>
    <link>http://www.salon.com/2013/08/12/your_mortgage_documents_are_fake/</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA[Now that it’s unsealed, Szymoniak, as the named plaintiff, can go forward and prove the case. Along with her legal team (which includes the law firm of Grant & Eisenhoffer, which has recovered more money under the False Claims Act than any firm in the country), Szymoniak can pursue discovery and go to trial against the rest of the named defendants, including HSBC, the Bank of New York Mellon, Deutsche Bank and US Bank.

The expenses of the case, previously borne by the government, now are borne by Szymoniak and her team, but the percentages of recovery funds are also higher. “I’m really glad I was part of collecting this money for the government, and I’m looking forward to going through discovery and collecting the rest of it,” Szymoniak told Salon.

It’s good that the case remains active, because the $95 million settlement was a pittance compared to the enormity of the crime. By the end of 2009, private mortgage-backed securities trusts held one-third of all residential mortgages in the U.S. That means that tens of millions of home mortgages worth trillions of dollars have no legitimate underlying owner that can establish the right to foreclose. This hasn’t stopped banks from foreclosing anyway with false documents, and they are often successful, a testament to the breakdown of law in the judicial system. But to this day, the resulting chaos in disentangling ownership harms homeowners trying to sell these properties, as well as those trying to purchase them. And it renders some properties impossible to sell.

]]></description>
<dc:subject>financial-crisis bankers-should-start-avoiding-lampposts-right-about-now</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:f517ae1621bd/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bankers-should-start-avoiding-lampposts-right-about-now"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.nakedcapitalism.com/2013/05/ian-fraser-the-beauty-and-insanity-of-hft.html">
    <title>Ian Fraser: The beauty and insanity of HFT « naked capitalism</title>
    <dc:date>2013-05-19T13:11:47+00:00</dc:date>
    <link>http://www.nakedcapitalism.com/2013/05/ian-fraser-the-beauty-and-insanity-of-hft.html</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA[In the movie, one can observe how High Frequency Traders (HFT) jam thousands of quotes at the millisecond level, and how every exchange must process every quote from the others for proper trade through price protection. This complex web of technology must run flawlessly every millisecond of the trading day, or arbitrage (HFT profit) opportunities will appear. However, it is easy for HFTs to cause delays in one or more of the connections between each exchange. Yet if any of the connections are not running perfectly, High Frequency Traders tend to profit from the price discrepancies that result.

]]></description>
<dc:subject>financial-crisis financial-engineering high-speed-trading markets inefficiency-is-a-resource</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:e13503b9f6cc/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-engineering"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:high-speed-trading"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:markets"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:inefficiency-is-a-resource"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://wallstreetonparade.com/2013/04/elizabeth-warren%E2%80%99s-foreclosure-settlement-bombshell-banks-determined-the-number-of-victims-of-their-own-foreclosure-frauds/">
    <title>Elizabeth Warren’s Foreclosure Settlement Bombshell: Banks Determined the Number of Victims of Their Own Foreclosure Frauds</title>
    <dc:date>2013-04-16T12:13:51+00:00</dc:date>
    <link>http://wallstreetonparade.com/2013/04/elizabeth-warren%E2%80%99s-foreclosure-settlement-bombshell-banks-determined-the-number-of-victims-of-their-own-foreclosure-frauds/</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA[A call to the Office of the Comptroller of the Currency confirmed that the OCC and the Federal Reserve allowed the banks to determine who had been harmed and in what manner. The OCC said it “spot checked” the work by the banks. When asked how the results could be legitimate if only 100,000 foreclosure files out of 4 million had been reviewed for errors or fraud, not a large enough amount to be a statistically reliable sample, the OCC spokesperson said the injuries were only hypothetical and might have happened. 

Indeed, the agreements negotiated between the regulators and the banks state that “the amount of any payments to borrowers made pursuant to this Amendment to the Consent Order do not in any manner reflect specific financial injury or harm that may have been suffered by borrowers receiving payments…” 

It has been previously reported that, cumulatively, seven outside consultants hired by the banks received $2 billion in consultant fees. Senator Sherrod Brown asked the witnesses from Deloitte, Pricewaterhouse Coopers and Promontory to provide specifics on their fees. Only Flanagan from Pricewaterhouse Coopers answered the question. The firm was paid $175 million by Citigroup; $190 million by U.S. Bank; and $60 million by Suntrust Bank. That compares to the cash the three banks agreed to pay to foreclosure victims as follows: Citigroup will pay $306,574,179; U.S. Bank will pay $80,060,193; and Suntrust will pay potential victims $62,555,947. 

]]></description>
<dc:subject>financial-crisis bankers-should-start-avoiding-lampposts-right-about-now</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:d8680ff945e5/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bankers-should-start-avoiding-lampposts-right-about-now"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.creditslips.org/creditslips/2013/03/why-the-independent-foreclosure-reviews-were-doomed-to-fail.html">
    <title>Why the Independent Foreclosure Reviews Were Doomed to Fail - Credit Slips</title>
    <dc:date>2013-03-04T12:40:46+00:00</dc:date>
    <link>http://www.creditslips.org/creditslips/2013/03/why-the-independent-foreclosure-reviews-were-doomed-to-fail.html</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA[At this point, the foreclosure remediation situation is so bollixed up, that I can't see any satisfactory resolution. I take some comfort in perhaps optimistically thinking that the great foreclosure cover-up might be the last gasp of the pre-CFPB age of bank regulation; hopefully the dynamics of regulation have changed sufficiently that we will not see something like the independent foreclosure review process emerge again. I wonder, though, will the prudential bank regulators ever learn that they cannot keep dealing with banks through ad hoc, informal processes if they want political legitmacy?  Do they even care? And if not, can we make them? 

]]></description>
<dc:subject>bankers-should-start-avoiding-lampposts-right-about-now financial-crisis public-policy foxes-and-henhouses</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:ae9ee7092b65/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bankers-should-start-avoiding-lampposts-right-about-now"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:public-policy"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:foxes-and-henhouses"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://theincidentaleconomist.com/wordpress/money-begets-money/">
    <title>“Biological structures yielding cash flows” | The Incidental Economist</title>
    <dc:date>2013-03-03T21:11:42+00:00</dc:date>
    <link>http://theincidentaleconomist.com/wordpress/money-begets-money/</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA[For what amounts to a talking point, patients are mortgaging their houses and their future. For shame! Even if some of these tests and procedures are warranted in some instances, it’s a very safe bet that they’re not in many, many others. In those cases, the right price is $0. That hospitals charge for application of procedures when they are at best useless and at worst harmful — and in all cases draining the patient or society of resources — brings to mind Uwe Reinhardt’s characterization of patients as “biological structures yielding cash flows.” (PDF) 

]]></description>
<dc:subject>healthcare financial-crisis public-policy pedagogy corporatism economics blood-in-the-streets-one-way-or-the-other</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:40737c492073/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:healthcare"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:public-policy"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:pedagogy"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:corporatism"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:economics"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:blood-in-the-streets-one-way-or-the-other"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://jacobinmag.com/2012/12/occupy-beyond-occupy/">
    <title>Occupy Beyond Occupy | Jacobin</title>
    <dc:date>2012-12-30T11:13:52+00:00</dc:date>
    <link>http://jacobinmag.com/2012/12/occupy-beyond-occupy/</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA[The most recent action, pictured above, was as simple and media-friendly as it was politically powerful. We helped to move a homeless family of three into a vacant, foreclosed house in St. Paul, just in time for Christmas. The woman shown speaking above is the previous owner of the house, who is in the process of losing it to US Bank. She gave her blessing and support to the activists from Occupy Homes and Neighborhoods Organizing for Change (an ACORN successor organization) as they reclaimed the place for Carrie, Xavier, and young Caleb, shown on the Left.

The activists are demanding that US Bank give the house to a community organization and take it as a tax write-off, so that it can be used to house people again instead of sitting empty. But even if the bank won’t play ball, Espinosa told me that they should be able to keep the family from being evicted for at least a month, and quite possibly longer. And Occupy Homes has every intention of creating a publicity nightmare for the local authorities, if they decide to start evicting families on behalf of big banks. With luck, the action I took part in in St. Paul will be the first of many.

Getting a personal look at what Occupy activists are doing in Minnesota reinforced my conviction that the hopeful note on which I ended my editorial was the right one: “The old may still be dying, but the new is already being born. Our task is to help it grow.”

]]></description>
<dc:subject>Occupy-movement housing financial-crisis activism politics</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:29806925b7b2/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:Occupy-movement"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:housing"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:activism"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:politics"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.nakedcapitalism.com/2012/11/on-the-decline-and-maybe-fall-of-venture-capital.html">
    <title>On the Decline and (Maybe) Fall of Venture Capital « naked capitalism</title>
    <dc:date>2012-11-12T13:10:35+00:00</dc:date>
    <link>http://www.nakedcapitalism.com/2012/11/on-the-decline-and-maybe-fall-of-venture-capital.html</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA[Nevertheless, venture capital is romanticized as one of the drivers of the American economy, when entrepreneurship expert Amar Bhide has ascertained that only about 1% of new ventures are funded by VC. A story today the Mercury News (hat tip bob) on how the poor performance of VC this year is part of a longer decline, raises bigger issues about the trajectory of the economy and the role of venture funders in it. It may simply be that (contrary to the McKinsey VC’s forecasts) funding levels have not fallen in line with the industry’s performance, and it needs to shrink further so that there aren’t too many investors chasing too few of the hot deals. It may also be that the VC industry is a casualty of the global financial crisis, in that individual investors remain skittish about the market, and their reservations are reinforced by high frequency trading, which leaves the little guy at a disadvantage. But predictably, even though the article makes it clear that the problems with VC are long-standing, many of the fund operators want to blame it on “uncertainty,” which at least on this coast, means the government.

]]></description>
<dc:subject>startup-culture-must-die venture-capital financial-crisis disintermediation-in-action</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:a94ca69c842b/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:startup-culture-must-die"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:venture-capital"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:disintermediation-in-action"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.nakedcapitalism.com/2012/11/the-lady-doth-protest-too-much-cbo-director-asks-for-a-chat-regarding-our-post-on-their-questionable-health-cost-increase-model.html">
    <title>The Lady Doth Protest Too Much: CBO Director Asks for a Chat Regarding Our Post on Their Questionable Health Cost Increase Model « naked capitalism</title>
    <dc:date>2012-11-12T10:54:59+00:00</dc:date>
    <link>http://www.nakedcapitalism.com/2012/11/the-lady-doth-protest-too-much-cbo-director-asks-for-a-chat-regarding-our-post-on-their-questionable-health-cost-increase-model.html</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["But to get a sense of what is at stake, if you read the newest CBO document on the deficit, it is not a dispassionate analysis of budget math alternatives. This is an advocacy document. It has the tone, the use of overly simplified language (below 8th grade level, which is the level used to spoon feed journalists, as opposed to higher reading levels that you see in other types of reports. Contrast both the look and the writing style with this FHFA Inspector General report, as an example: text paragraphs, no nice bullet points and generous use of white space, not much coddling of the reader)."]]></description>
<dc:subject>public-policy economics politics financial-crisis bankers-should-start-avoiding-lampposts-right-about-now</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:674ba1e17f15/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:public-policy"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:economics"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:politics"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bankers-should-start-avoiding-lampposts-right-about-now"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.zerohedge.com/news/guest-post-are-you-seeing-what-im-seeing">
    <title>Guest Post: Are You Seeing What I'm Seeing? | ZeroHedge</title>
    <dc:date>2012-09-18T19:32:03+00:00</dc:date>
    <link>http://www.zerohedge.com/news/guest-post-are-you-seeing-what-im-seeing</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["A few powerful men have hijacked our economic, financial and political structure. They aren’t socialists or capitalists. They’re criminals. They created the culture of materialism, greed and debt, sustained by prodigious levels of media propaganda. Our culture has been led to believe that debt financed consumption over morality and justice is the path to success. In reality, we’ve condemned ourselves to a slow painful death spiral of debasement and despair."]]></description>
<dc:subject>financial-crisis war-in-our-time-alas consumerism sustainability this-ain't-disintermediation</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:53417e658590/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:war-in-our-time-alas"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:consumerism"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:sustainability"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:this-ain't-disintermediation"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.nakedcapitalism.com/2012/08/our-coming-rentcropper-society.html">
    <title>Our Coming Rentcropper Society « naked capitalism</title>
    <dc:date>2012-08-22T06:02:22+00:00</dc:date>
    <link>http://www.nakedcapitalism.com/2012/08/our-coming-rentcropper-society.html</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["Debt is not just a credit instrument, it is an instrument of political and economic control.

It’s actually baked into our culture. The phrase ‘the man’, as in ‘fight the man’, referred originally to creditors. ‘The man’ in the 19th century stood for ‘furnishing man’, the merchant that sold 19th century sharecroppers and Southern farmers their supplies for the year, usually on credit. Farmers, often illiterate and certainly unable to understand the arrangements into which they were entering, were charged interest rates of 80-100 percent a year, with a lien places on their crops. When approaching a furnishing agent, who could grant them credit for seeds, equipment, even food itself, a farmer would meekly look down nervously as his debts were marked down in a notebook. At the end of a year, due to deflation and usury, farmers usually owed more than they started the year owing. Their land was often forfeit, and eventually most of them became tenant farmers…

[W]e are in the midst of creating a second sharecropper society..Today, the debts do not involve liens against crops. People in modern America carry student loans, credit card debt, and mortgages…Young people and what only cynics might call ‘homeowners’ have no choice but to jump on the treadmill of debt, as debtcroppers. The goal is not to have them pay off their debts, but to owe forever. Whatever a debtcropper owes, a wealthy creditor owns. And as a bonus, the heavier the debt burden of American citizenry, the less able we are able to organize and claim our democratic rights as citizens. Debtcroppers don’t start companies and innovate, they don’t take chances, and they don’t claim their political rights."]]></description>
<dc:subject>politics financial-crisis bankers-should-start-avoiding-lampposts-right-about-now debt</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:eeae1fcbe6dd/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:politics"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bankers-should-start-avoiding-lampposts-right-about-now"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:debt"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.nakedcapitalism.com/2012/08/moe-tkacik-student-debt-the-unconstitutional-40-year-war-on-students.html">
    <title>Moe Tkacik: Student Debt – The Unconstitutional 40 Year War on Students « naked capitalism</title>
    <dc:date>2012-08-16T12:08:39+00:00</dc:date>
    <link>http://www.nakedcapitalism.com/2012/08/moe-tkacik-student-debt-the-unconstitutional-40-year-war-on-students.html</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["The human toll exacted by this immortal justice-resistant debt fills websites and Student Loan Justice founder Alan Collinge’s horrifying book Student Loan Scam: The Most Oppressive Debt In U.S. History—And How We Can Fight Back. And yet I didn’t even really know about it—not the brutality or the scope of it, anyway—until I volunteered to research “fighting back” possibilities for an Occupy Wall Street affiliated group. Neither did any of the other predatory lending buffs I polled; we’d been preoccupied by mortgages, and the government’s alarming indifference to the foreclosure epidemic.

We weren’t ultimately aware of the student loan crisis because there is no legal way of fighting back—or by extension, posing any sort of immediate threat to the solvency of the financial system. Under the current regime, the most effective means of sticking it to the proverbial man would in theory be for all students to simply pay off all their debts at once. But even if they could scrounge together a trillion dollars out of their collective couches just like that, there is little doubt in my mind that Sallie Mae and its student loan-sharking brethren would simply see it as an opportunity to levy a massive prepayment penalty. (The internet is a rich trove of surreal personal accounts of being penalized for over-paying their student loan bills.) But no one notices, because student borrowers are so utterly powerless they can borrow a trillion dollars and never pose a threat to the financial system."]]></description>
<dc:subject>public-policy bankers-should-start-avoiding-lampposts-right-about-now financial-crisis revolution-targets</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:6c17b99addda/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:public-policy"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bankers-should-start-avoiding-lampposts-right-about-now"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:revolution-targets"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.rollingstone.com/politics/news/the-great-american-bubble-machine-20100405">
    <title>The Great American Bubble Machine | Politics News | Rolling Stone</title>
    <dc:date>2012-08-10T12:21:41+00:00</dc:date>
    <link>http://www.rollingstone.com/politics/news/the-great-american-bubble-machine-20100405</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["The bank's unprecedented reach and power have enabled it to turn all of America into a giant pump-and-dump scam, manipulating whole economic sectors for years at a time, moving the dice game as this or that market collapses, and all the time gorging itself on the unseen costs that are breaking families everywhere — high gas prices, rising consumer credit rates, half-eaten pension funds, mass layoffs, future taxes to pay off bailouts. All that money that you're losing, it's going somewhere, and in both a literal and a figurative sense, Goldman Sachs is where it's going: The bank is a huge, highly sophisticated engine for converting the useful, deployed wealth of society into the least useful, most wasteful and insoluble substance on Earth — pure profit for rich individuals."]]></description>
<dc:subject>Goldman-Sachs financial-crisis bankers-should-start-avoiding-lampposts-right-about-now</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:9d7b3b83834d/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:Goldman-Sachs"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bankers-should-start-avoiding-lampposts-right-about-now"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.nakedcapitalism.com/2012/06/the-eurozones-strategy-is-a-disaster.html">
    <title>“The Eurozone’s Strategy is a Disaster” « naked capitalism</title>
    <dc:date>2012-06-29T11:52:57+00:00</dc:date>
    <link>http://www.nakedcapitalism.com/2012/06/the-eurozones-strategy-is-a-disaster.html</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["Why should German and other taxpayers, mostly from the north, pay for the others, mostly from the south? Because their governments are responsible for the disastrous situation we are in."]]></description>
<dc:subject>financial-crisis public-policy economics cultural-dynamics fair-weather-bosses</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:372d5ff355a2/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:public-policy"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:economics"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:cultural-dynamics"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:fair-weather-bosses"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://harpers.org/archive/2012/01/0083752">
    <title>CHRISTOPHER KETCHAM—Stop payment! A homeowners' revolt against the banks</title>
    <dc:date>2012-06-02T10:56:55+00:00</dc:date>
    <link>http://harpers.org/archive/2012/01/0083752</link>
    <dc:creator>Vaguery</dc:creator><dc:subject>via:bkerr financial-crisis bankers-should-start-avoiding-lampposts-right-about-now cultural-dynamics rebellion</dc:subject>
<dc:identifier>https://pinboard.in/u:Vaguery/b:d7cfabf4a15e/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:via:bkerr"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bankers-should-start-avoiding-lampposts-right-about-now"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:cultural-dynamics"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:rebellion"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://epicureandealmaker.blogspot.com/2012/03/three-crowd.html">
    <title>The Epicurean Dealmaker: Three’s a Crowd</title>
    <dc:date>2012-03-21T11:14:25+00:00</dc:date>
    <link>http://epicureandealmaker.blogspot.com/2012/03/three-crowd.html</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["The tension arises from the fact that it is often more profitable to rip a customer’s face off in the short term than to defer potentially larger profit opportunities with the same client in the long term. When bankers whose personal franchises, careers, and compensation depends on the former are evenly balanced with bankers whose interests are aligned with the latter, an investment bank perches profitably if precariously on the knife’s edge of sustainable profitability. Notwithstanding industry critics’ perception that all investment bankers are all looking for a quick and easy score, those of us who actually work in the relationship side of the business know that our best personal outcome depends on a sustained career success lasting over a decade or more. Unlike, perhaps, traders who transact daily with equally ruthless hedge fund counterparties on a no-regrets, no-grudges basis, bankers like me in corporate finance and M&A transact with the same limited universe of clients year-in and year-out. We simply cannot afford to screw them over, because they do hold a grudge."]]></description>
<dc:subject>cultural-dynamics financial-crisis bankers-should-start-avoiding-lampposts-right-about-now exploration-and-exploitation corporatism employment-as-self-definition</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:eb5e8ee46016/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:cultural-dynamics"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bankers-should-start-avoiding-lampposts-right-about-now"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:exploration-and-exploitation"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:corporatism"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:employment-as-self-definition"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://seekingalpha.com/article/285470-a-closer-look-at-ominous-consumer-credit-data?source=feed">
    <title>A Closer Look at Ominous Consumer Credit Data - Seeking Alpha</title>
    <dc:date>2011-08-29T11:40:06+00:00</dc:date>
    <link>http://seekingalpha.com/article/285470-a-closer-look-at-ominous-consumer-credit-data?source=feed</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["Thus the most logical interpretation is that as other sources of cash are drying up – jobs, equity lines, etc. -- consumers are now turning to credit cards for basic expenses, and as credit lines become exhausted another round of defaults is in store. Some may say that cash sales are not reflected in the data, but the American way of life and the core economic engine has been plastic-based for as long as we can remember, and is not about to change anytime soon."]]></description>
<dc:subject>economic-crisis credit-cards financial-crisis bankers-should-start-avoiding-lampposts-right-about-now</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:6e51f52d6b17/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:economic-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:credit-cards"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bankers-should-start-avoiding-lampposts-right-about-now"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://economistsview.typepad.com/economistsview/2011/07/bubble-illusion.html?">
    <title>Economist's View: Bubble Illusion</title>
    <dc:date>2011-08-02T14:35:52+00:00</dc:date>
    <link>http://economistsview.typepad.com/economistsview/2011/07/bubble-illusion.html?</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["I'm not sure how much the additional pessimism that "bubble illusion" causes matters for people's outlook about their current situation, and thus how much it affects the willingness to spend -- that seems to be related more to actual values today than to how much was lost. But it may affect the goals people set for when they will feel "whole" once again, and thus have an effect on spending through that channel. In any case, the illusion does seem to be present."]]></description>
<dc:subject>financial-crisis economics investment valuation behavioral-finance</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:ae5bfce5b11e/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:economics"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:investment"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:valuation"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:behavioral-finance"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.newdeal20.org/2011/06/27/is-your-boss-really-in-business-to-create-jobs-49622/">
    <title>Is Your Boss Really in Business to Create Jobs? » New Deal 2.0</title>
    <dc:date>2011-08-02T14:32:06+00:00</dc:date>
    <link>http://www.newdeal20.org/2011/06/27/is-your-boss-really-in-business-to-create-jobs-49622/</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["No, Mr. President, we’re not in this together with corporate America. Corporations are in it to maximize profits and boost CEO salaries, not help the U.S. economy or put people back to work.

With no “healthy increase in demand,” on the horizon and unemployment heading back up, the President has talked more about government-led solutions that would actually create jobs in America. Near the end of his address on Afghanistan, and in a full-throated pitch at a Democratic fundraiser in New York City the next evening, Obama called for investments in education, infrastructure, and clean energy at home.

Democratic leaders in Congress have also started to sharpen their focus on the failure of corporations to create jobs at home. Nancy Pelosi’s reaction to the Majority Leader Eric Cantor’s walking away from budget talks was, “”Yes, we do want to remove tax subsidies for big oil, we want to remove tax breaks for corporations that send jobs overseas… ”"]]></description>
<dc:subject>financial-crisis economics business-culture corporatism jobs unemployment figure-ground-error</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:f1dd34a289ec/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:economics"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:business-culture"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:corporatism"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:jobs"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:unemployment"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:figure-ground-error"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-62060dcbb3c3">
    <title>The Fed Audit - Newsroom: U.S. Senator Bernie Sanders (Vermont)</title>
    <dc:date>2011-07-22T00:05:52+00:00</dc:date>
    <link>http://sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-62060dcbb3c3</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["To Sanders, the conclusion is simple. "No one who works for a firm receiving direct financial assistance from the Fed should be allowed to sit on the Fed's board of directors or be employed by the Fed," he said.

The investigation also revealed that the Fed outsourced most of its emergency lending programs to private contractors, many of which also were recipients of extremely low-interest and then-secret loans.

The Fed outsourced virtually all of the operations of their emergency lending programs to private contractors like JP Morgan Chase, Morgan Stanley, and Wells Fargo.  The same firms also received trillions of dollars in Fed loans at near-zero interest rates. Altogether some two-thirds of the contracts that the Fed awarded to manage its emergency lending programs were no-bid contracts. Morgan Stanley was given the largest no-bid contract worth $108.4 million to help manage the Fed bailout of AIG.

A more detailed GAO investigation into potential conflicts of interest at the Fed is due on Oct. 18, but Sanders said one thing already is abundantly clear. "The Federal Reserve must be reformed to serve the needs of working families, not just CEOs on Wall Street.""]]></description>
<dc:subject>corporatism financial-crisis bankers-should-start-avoiding-lampposts-right-about-now</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:aab0604c984c/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:corporatism"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bankers-should-start-avoiding-lampposts-right-about-now"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.willrogerstoday.com/weekly_comments/archive_issue.cfm?newsletterID=251">
    <title>Will Rogers Today</title>
    <dc:date>2011-07-17T02:49:38+00:00</dc:date>
    <link>http://www.willrogerstoday.com/weekly_comments/archive_issue.cfm?newsletterID=251</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["Now it's Prohibition, we hear a lot about that. Well, that's nothing to compare to your neighbor's children that are hungry. It's food, it ain't drink that we are worried about today. Here a few years ago we were so afraid that the poor people was liable to take a drink that now we've fixed so that they can't even get something to eat.

So here we are, in a country with more wheat, and more corn, and more money in the bank, more cotton, more everything in the world; there's not a product that you can name that we haven't got more of than any other country ever had on the face of the earth, and yet we've got people starving. We'll hold the distinction of being the only nation in the history of the world that ever went to the poor house in an automobile. The potter's fields are lined with granaries full of grain. Now if there ain't something cockeyed in an arrangement like that then this microphone here in front of me is, well, it's a cuspidor, that's all.

Now I think that perhaps they will arrange it, I think some of our big men will perhaps get some way of fixing a different distribution of things. If they don't they are certainly not big men and won't be with us long. Now I say, and have always claimed, that things would pick up in '32. Thirty-two, why '32? Well, because '32 is an election year, see, and the Republicans always see that everything looks good on election year, see? They give us three good years and one bad one. No, no, three bad ones and one good one. I like to got it wrong. That's the Democrats does the other. They give us three bad years and one good one, but the good one always comes on the year that the voting is, see? Now if they was running this year why they would be all right. But they are one year late. Everything will pick up next year and be fine.

These people that you are asked to aid, why they are not asking for charity, they are naturally asking for a job, but if you can't give them a job why the next best thing you can do is see that they have food and the necessities of life. You know, there's not a one of us has anything that these people that are without it now haven't contributed to what we've got. I don't suppose there is the most unemployed or the hungriest man in America that hasn't contributed in some way to the wealth of every millionaire in America. It was the big boys themselves who thought that this financial drunk we were going through was going to last forever. They over-merged, and over-capitalized, and over-everything else. That's the fix that we're in now."]]></description>
<dc:subject>Will-Rogers politics Depression financial-crisis speech</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:84508756d378/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:Will-Rogers"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:politics"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:Depression"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:speech"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.underpaidgenius.com/post/7417689901">
    <title>Economists were stunned. | Underpaid Genius</title>
    <dc:date>2011-07-09T14:01:12+00:00</dc:date>
    <link>http://www.underpaidgenius.com/post/7417689901</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["Yes, there are still bright developments. The Beacon Theater will have an ice cream parlor and a wine bar opening soon, and some performances are scheduled for later in the summer. The Beacon Falls Roundhouse project is lurching along, and the hotel/restaurant building looks nearly ready to have windows put in.

But there is a curious stillness, that I feel even in New York City. A feeling of being in a limbo, waiting for time to catch up.

Economists are obviously spending too much time reading each others’ reports, and not enough time on Main Street, listening to the guys under the tree in front of the DMV, or talking to the owners at Max’s Bar and Deli."]]></description>
<dc:subject>financial-crisis economics economy reality-based-public-policy what-gets-measured-gets-fudged</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:e5856392128b/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:economics"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:economy"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:reality-based-public-policy"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:what-gets-measured-gets-fudged"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.economist.com/node/18928600?frsc=dg%7Ca">
    <title>America's debt: Shame on them | The Economist</title>
    <dc:date>2011-07-09T01:39:04+00:00</dc:date>
    <link>http://www.economist.com/node/18928600?frsc=dg%7Ca</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["This newspaper has a strong dislike of big government; we have long argued that the main way to right America’s finances is through spending cuts. But you cannot get there without any tax rises. In Britain, for instance, the coalition government aims to tame its deficit with a 3:1 ratio of cuts to hikes. America’s tax take is at its lowest level for decades: even Ronald Reagan raised taxes when he needed to do so.

And the closer you look, the more unprincipled the Republicans look. Earlier this year House Republicans produced a report noting that an 85%-15% split between spending cuts and tax rises was the average for successful fiscal consolidations, according to historical evidence. The White House is offering an 83%-17% split (hardly a huge distance) and a promise that none of the revenue increase will come from higher marginal rates, only from eliminating loopholes. If the Republicans were real tax reformers, they would seize this offer.

Both parties have in recent months been guilty of fiscal recklessness. Right now, though, the blame falls clearly on the Republicans. Independent voters should take note."]]></description>
<dc:subject>financial-crisis Republicanism-is-no-longer-conservatism financialization Tea-Party Civil-War deficit</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:39c7ca654fcc/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:Republicanism-is-no-longer-conservatism"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financialization"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:Tea-Party"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:Civil-War"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:deficit"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://rortybomb.wordpress.com/2011/03/07/towards-a-theory-of-corporate-and-financial-sector-solidarity/">
    <title>Towards a Theory of Corporate and Financial Sector Solidarity | Rortybomb</title>
    <dc:date>2011-07-08T11:39:03+00:00</dc:date>
    <link>http://rortybomb.wordpress.com/2011/03/07/towards-a-theory-of-corporate-and-financial-sector-solidarity/</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["Speculation: There’s a critique of the regulators and key decision makers during the crisis that invokes cultural capital and the idea that regulators are socialized with Wall Street in a way that it is difficult for them to exercise any type of power over them, to see their interests in conflict. I wonder if the same is true for the corporate sector. As the firm goes global, and as the white-collar workforce is broken by computerization and globalization, more and more elite corporate positions will be filled by those leaving Wall Street. (Has this already happened? Data/Studies?) If so, you’ll see an even more lucrative revolving door between corporate elites and financial elites. As such, any natural checks to financial sector power coming from the corporate market space is less likely to happen."]]></description>
<dc:subject>its-the-unnatural-checks-that-will-be-interesting banking financial-crisis public-policy regulation corporatism financialzation social-networks cultural-assumptions</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:3026a66cc4b0/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:its-the-unnatural-checks-that-will-be-interesting"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:banking"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:public-policy"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:regulation"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:corporatism"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financialzation"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:social-networks"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:cultural-assumptions"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.creditslips.org/creditslips/2011/06/the-fed-bails-out-the-banksagain.html">
    <title>The Fed Bails Out the Banks...Again - Credit Slips</title>
    <dc:date>2011-07-08T11:34:03+00:00</dc:date>
    <link>http://www.creditslips.org/creditslips/2011/06/the-fed-bails-out-the-banksagain.html</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["The lesson here is that if we want serious regulation of banks, we can't trust it to be done by bank regulators. We've seen the Fed and the OCC time and time again bend over backwards to let the banks out of statutory requirements. We've seen this with inaction (HOEPA regs), with aggressive preemption (and OCC is back to its old tricks...).

And this isn't just in the realm of consumer finance. This is also in the safety and soundness area. I'm not talking about stretched interpretations of section 13(3) of the Federal Reserve Act. I'm talking about affiliate transaction rules and Prompt Corrective Action, cornerstones of the safety-and-soundness regime. Saule Omarova has a great paper that shows how the Fed granted affiliate transaction waivers like a drunken sailor during the financial crisis.  Those were rules that went back to 1932-33 as part of Glass-Steagal.  

And remember Prompt Corrective Action? That was a response to all of the Federal Home Loan Bank Board's screw ups during the S&L crisis (Who you say? There's a reason the FHLBB doesn't exist any more...). PCA is clear of a bunch of tripwires as you can get. The whole point was to make sure that the bank regulators regulated, not coddled. But Bernanke announced that he was suspending PCA for the banks during the financial crisis. Only after the stress tests cleared the big banks did PCA get applied to the small banks, and with a vengance. What a sorry state of the world we live in where the bank regulators are the last people we can trust to actually regulate the banks. "]]></description>
<dc:subject>bankers-should-start-avoiding-lampposts-right-about-now public-policy legislation financial-crisis banking corporatism</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:33bc9a5420a8/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bankers-should-start-avoiding-lampposts-right-about-now"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:public-policy"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:legislation"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:banking"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:corporatism"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://rortybomb.wordpress.com/2011/07/07/rents-versus-profits-in-the-financial-reform-battle-and-post-industrial-economy/">
    <title>Rents versus Profits in the Financial Reform Battle and Post-Industrial Economy | Rortybomb</title>
    <dc:date>2011-07-08T11:28:09+00:00</dc:date>
    <link>http://rortybomb.wordpress.com/2011/07/07/rents-versus-profits-in-the-financial-reform-battle-and-post-industrial-economy/</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["Much of the modernization that Marx triumphed was a victory of profit-makers over rent-holders. What Hardt argues is that, as the economy becomes more and more about information, the crucial ends of capital holders is to take things that could belong to the commons and instead appropriate them as property rights and sell them off. The implies a prioritization of rent-holders over profit-makers in terms of power over the economy (also implying a regression back from the future that Marx thought would come after profit-makers – take that Hegelian Marxism!).

If we look at some of the major economic battles taking place, they are over patents, how the risks and rewards of large, systemically important public-utility style financial institutions are distributed and who gets to control the residual over the delegated ends of the government with the mad rush for the privatization of government resources and responsibilities. These are all, in some way, about rents. And the battle over these will determine a lot about who gains in the future of the economy.

As such, they are the only place where the financial sector and the real economy fight it out."]]></description>
<dc:subject>financial-crisis bankers-should-start-avoiding-lampposts-right-about-now intellectual-property rent-seeking</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:9b1f5c8e6156/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bankers-should-start-avoiding-lampposts-right-about-now"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:intellectual-property"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:rent-seeking"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://adgrok.com/why-founding-a-three-person-startup-with-zero-revenue-is-better-than-working-for-goldman-sachs/">
    <title>Why founding a three-person startup with zero revenue is better than working for Goldman Sachs. | AdGrok</title>
    <dc:date>2011-07-01T22:33:30+00:00</dc:date>
    <link>http://adgrok.com/why-founding-a-three-person-startup-with-zero-revenue-is-better-than-working-for-goldman-sachs/</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["Giving sophisticated models and fast computers to traders is like giving handguns and tequila to teenage boys. Only complete mayhem can result (and as we saw recently, complete mayhem did result) . The quants were there to make sure the guns were loaded, but also to make sure the traders didn’t shoot themselves in the foot.

Not that we were terribly appreciated. In fact, we were basically the trader’s little bitches, and any quant who’s honest with himself realizes that. In time, we quants developed knee callouses from genuflecting to service the traders, on whose profits our livelihoods depended."]]></description>
<dc:subject>via:pkedrosky financial-crisis worklife rocket-science startups workantile-exchange</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:f08c38863103/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:via:pkedrosky"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:worklife"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:rocket-science"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:startups"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:workantile-exchange"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.nakedcapitalism.com/2011/06/occ-gives-banks-another-blow-job.html">
    <title>OCC Gives Banks Another Blow Job « naked capitalism</title>
    <dc:date>2011-06-22T10:29:05+00:00</dc:date>
    <link>http://www.nakedcapitalism.com/2011/06/occ-gives-banks-another-blow-job.html</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA[Mr Levin said: “It is past time for the president to nominate new leadership at the OCC to protect American families and businesses from the excesses of Wall Street.”

]]></description>
<dc:subject>financial-crisis public-policy bankers-should-start-avoiding-lampposts-right-about-now</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:df01997e13cc/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:public-policy"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bankers-should-start-avoiding-lampposts-right-about-now"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.calculatedriskblog.com/2011/05/excess-vacant-housing-supply.html?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+CalculatedRisk+%28Calculated+Risk%29">
    <title>Calculated Risk: The Excess Vacant Housing Supply</title>
    <dc:date>2011-06-10T14:16:19+00:00</dc:date>
    <link>http://www.calculatedriskblog.com/2011/05/excess-vacant-housing-supply.html?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+CalculatedRisk+%28Calculated+Risk%29</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["It is no surprise that Florida has the largest number of excess vacant units and that Nevada has the largest percentage of excess vacant units. What might be a surprise to some is that California is below the U.S. average."]]></description>
<dc:subject>financial-crisis real-estate housing-bubble public-policy</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:aca3991f3cff/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:real-estate"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:housing-bubble"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:public-policy"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.nytimes.com/2011/05/09/opinion/09krugman.html?_r=1">
    <title>The Unwisdom of Elites - NYTimes.com</title>
    <dc:date>2011-05-28T11:55:50+00:00</dc:date>
    <link>http://www.nytimes.com/2011/05/09/opinion/09krugman.html?_r=1</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["Does any of this matter? Why should we be concerned about the effort to shift the blame for bad policies onto the general public?

One answer is simple accountability. People who advocated budget-busting policies during the Bush years shouldn’t be allowed to pass themselves off as deficit hawks; people who praised Ireland as a role model shouldn’t be giving lectures on responsible government.

But the larger answer, I’d argue, is that by making up stories about our current predicament that absolve the people who put us here there, we cut off any chance to learn from the crisis. We need to place the blame where it belongs, to chasten our policy elites. Otherwise, they’ll do even more damage in the years ahead."]]></description>
<dc:subject>financial-crisis macroeconomics public-policy Bushism conservatism</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:4c0f122a816a/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:macroeconomics"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:public-policy"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:Bushism"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:conservatism"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.poormojo.org/pmjadaily/archives/034830.php?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+PoorMojoNewswire+(Poor+Mojo+Newswire)">
    <title>Poor Mojo's Newswire: Krugman: Seniors, Guns, and Money</title>
    <dc:date>2011-05-28T11:39:08+00:00</dc:date>
    <link>http://www.poormojo.org/pmjadaily/archives/034830.php?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+PoorMojoNewswire+(Poor+Mojo+Newswire)</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["Anyway, the truth is that older Americans really should fear Republican budget ideas — and not just because of that plan to dismantle Medicare. Given the realities of the federal budget, a party insisting that tax increases of any kind are off the table — as John Boehner, the speaker of the House, says they are — is, necessarily, a party demanding savage cuts in programs that serve older Americans.

To explain why, let me answer a rhetorical question posed by Professor John Taylor of Stanford University in a recent op-ed article in The Wall Street Journal. He asked, “If government agencies and programs functioned with 19% to 20% of G.D.P. in 2007” — that is, just before the Great Recession — “why is it so hard for them to function with that percentage in 2021?”

Mr. Taylor thought he was making the case for not increasing spending. But if you know anything about the federal budget, you know that there’s a very good answer to his question — an answer that clearly demonstrates just how extremist that no-tax-increase pledge really is. For here’s the quick-and-dirty summary of what the federal government does: It’s a giant insurance company, mainly serving older people, that also has an army. "]]></description>
<dc:subject>public-policy Republicans financial-crisis social-safety-net</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:3dd05610a8ad/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:public-policy"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:Republicans"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:social-safety-net"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.calculatedriskblog.com/2011/05/walking-away-in-chicago.html?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+CalculatedRisk+%28Calculated+Risk%29">
    <title>Calculated Risk: Walking Away in Chicago</title>
    <dc:date>2011-05-26T13:17:14+00:00</dc:date>
    <link>http://www.calculatedriskblog.com/2011/05/walking-away-in-chicago.html?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+CalculatedRisk+%28Calculated+Risk%29</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["…These properties with large negative equity positions are like ticking time bombs for the banks. Eventually these owners will grew tired of the monthly loss, and try to take action. Corelogic reported there were 11.1 million properties with negative equity at the end of last year, and close to 5 million properties with more than 25% negative equity."]]></description>
<dc:subject>financial-crisis housing-crisis bankers-should-start-avoiding-lampposts-right-about-now</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:790b0b5a2705/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:housing-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bankers-should-start-avoiding-lampposts-right-about-now"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.nakedcapitalism.com/2011/05/taibbi-us-politics-– reality-show-sponsored-by-wall-street.html">
    <title>Taibbi: “US Politics – Reality Show Sponsored by Wall Street” « naked capitalism</title>
    <dc:date>2011-05-26T13:10:59+00:00</dc:date>
    <link>http://www.nakedcapitalism.com/2011/05/taibbi-us-politics-– reality-show-sponsored-by-wall-street.html</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["Taibbi discusses the lack of financial reform and failure to prosecute Wall Street…"]]></description>
<dc:subject>financial-crisis public-policy economics bankers-should-start-avoiding-lampposts-right-about-now</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:bc1b04100c25/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:public-policy"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:economics"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bankers-should-start-avoiding-lampposts-right-about-now"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://delong.typepad.com/sdj/2011/05/the-economic-outlook-as-of-may-2011-yes-this-is-called-the-dismal-science-why-do-you-ask.html">
    <title>The Economic Outlook as of May 2011: Yes, This Is Called the Dismal Science. Why Do You Ask? - Grasping Reality with a Flexible Trunk</title>
    <dc:date>2011-05-26T12:56:42+00:00</dc:date>
    <link>http://delong.typepad.com/sdj/2011/05/the-economic-outlook-as-of-may-2011-yes-this-is-called-the-dismal-science-why-do-you-ask.html</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["As the foundations of this crisis were laid, there were always arguments against massive regulatory intervention to deal with it. Those arguments always sounded convincing. The stayed convincing even as the situation transformed itself from a justified boom in long duration assets driven by advances in diversification and by capital inflows pushing down interest rates, to froth, to irrational exuberance, to a full-fledged bubble."]]></description>
<dc:subject>financial-crisis hindsight economics bubble woops</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:09dd63a1446c/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:hindsight"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:economics"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bubble"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:woops"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.nakedcapitalism.com/2011/05/raghuram-rajan-on-delineating-the-role-of-government.html">
    <title>Raghuram Rajan on Delineating the Role of Government « naked capitalism</title>
    <dc:date>2011-05-26T12:41:58+00:00</dc:date>
    <link>http://www.nakedcapitalism.com/2011/05/raghuram-rajan-on-delineating-the-role-of-government.html</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["In this interview, Rajan, who famously told Greenspan at his last Jackson Hole conference that recent changes in financial services industry policy had increased risk, takes on the question of the role of government. He contends that economists have neglected this issue due to overspecialization."]]></description>
<dc:subject>interview financial-crisis public-policy economics</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:23ab2139210e/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:interview"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:public-policy"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:economics"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.nytimes.com/2011/05/22/business/economy/22view.html?_r=2">
    <title>A Strong Dollar Isn’t Always a Good Thing - Economic View - NYTimes.com</title>
    <dc:date>2011-05-26T11:37:20+00:00</dc:date>
    <link>http://www.nytimes.com/2011/05/22/business/economy/22view.html?_r=2</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["In practice, all that “the exchange rate is the purview of the Treasury” means is that no official other the Treasury secretary is supposed to talk about it (and even he isn’t supposed to say very much). That strikes me as a shame. Perhaps if government officials could talk about the exchange rate forthrightly, there would be more understanding of the issues and more rational policy discussions.

Such discussions would start with some basic economics. The desire to trade with other countries or invest in them is what gives rise to the market for foreign exchange. You need euros to travel in Spain or to buy a German government bond, so you need a way to exchange currencies."]]></description>
<dc:subject>economics financial-crisis public-policy worldviews disintermediation-targets</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:0f5fa8b18dbe/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:economics"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:public-policy"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:worldviews"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:disintermediation-targets"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://openeconomicsnd.wordpress.com/2011/05/17/they-never-cared-about-unemployment/">
    <title>They Never Cared About Unemployment « Open Economics</title>
    <dc:date>2011-05-20T12:35:47+00:00</dc:date>
    <link>http://openeconomicsnd.wordpress.com/2011/05/17/they-never-cared-about-unemployment/</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["What’s striking, though, is that even in January of 2010, when unemployment was over 10%, deficits received equal mention as unemployment. The media is certainly culpable here, but I’m guessing that their headlines are driven by the political discussion, which since the passage of the stimulus has been entirely warped. Goes to show that our political leaders, and the media by extension, will never give unemployment the attention it deserves."]]></description>
<dc:subject>economic-crisis financial-crisis politics unemployment bankers-should-start-avoiding-lampposts-right-about-now</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:1ec8c2458fb2/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:economic-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:politics"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:unemployment"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bankers-should-start-avoiding-lampposts-right-about-now"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.nakedcapitalism.com/2011/05/guest-post-geithner-says-the-size-of-the-shock-was-larger-than-what-precipitated-the-great-depression”.html">
    <title>Guest Post: Geithner Says “The Size Of The Shock Was Larger Than What Precipitated The Great Depression” « naked capitalism</title>
    <dc:date>2011-05-20T12:11:15+00:00</dc:date>
    <link>http://www.nakedcapitalism.com/2011/05/guest-post-geithner-says-the-size-of-the-shock-was-larger-than-what-precipitated-the-great-depression”.html</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["…(So the shock was even bigger than the one leading up to the Depression because Geithner and his buddies helped blow the bubble and try to cover up wrongdoing on Wall Street.)

Geithner has been equally bad as Treasury boss. Indeed, there is hardly a single independent economist who thinks he has been responding appropriately to the economic crisis.

Sorry to say, but Geithner has long been a yes-man to the powers-that-be, who ships pallets of money wherever he is told without question or any follow-up or tracking whatsoever.

Even worse, Geithner has been called an idiot by Nassim Taleb and a “con man” by Time Magazine.

No wonder we’re going to eventually have another crash …

And because Geithner (along with Bernanke) have insisted that the big banks be bailed out at Main Street’s expense, that the status quo be protected instead of reformed, and that the U.S. insure the debts of the too big to fails, the next crisis will be even bigger than the last."]]></description>
<dc:subject>bankers-should-start-avoiding-lampposts-right-about-now financial-crisis this-will-end-badly</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:c37968f8631d/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bankers-should-start-avoiding-lampposts-right-about-now"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:this-will-end-badly"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://consumerist.com/2011/05/reader-wins-7500-after-suing-debt-collector.html">
    <title>Mother Wins $7,500 After Suing Debt Collector - The Consumerist</title>
    <dc:date>2011-05-19T22:09:48+00:00</dc:date>
    <link>http://consumerist.com/2011/05/reader-wins-7500-after-suing-debt-collector.html</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["…They then got attorneys who demanded that we settle for 2,000 or they would appeal. We again refused and told them we would see them in court. They filed an appeal and a hearing date was set. We prepared ourselves, deciding to forgo an attorney after discussing the case with one. However, two days before the hearing we received a notice from them informing us that they would not pursue the appeal and would be paying us. We received the money in April. This was our little moment of victory. Collection companies have no right to harass anyone. The Fair Debt Collection Practices Act is very clear regarding calls to people other than debtor."]]></description>
<dc:subject>lawyers financial-crisis debt-collectors legal-advice inspirational</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:935de4393333/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:lawyers"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:debt-collectors"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:legal-advice"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:inspirational"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://stumblingandmumbling.typepad.com/stumbling_and_mumbling/2011/05/against-the-rally-against-debt.html">
    <title>Stumbling and Mumbling: Against the rally against debt</title>
    <dc:date>2011-05-14T13:49:13+00:00</dc:date>
    <link>http://stumblingandmumbling.typepad.com/stumbling_and_mumbling/2011/05/against-the-rally-against-debt.html</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA[Which brings me to a paradox. Most of those who are marching today are, I suspect, supporters of the free market. They believe the market, in general, knows better than governments. 

When it comes to government debt, though, they abandon this faith in the market, and expect the government to over-ride its wishes.]]></description>
<dc:subject>financial-crisis market-fundamentalism conservatism pensions</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:0734b3fecb3f/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:market-fundamentalism"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:conservatism"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:pensions"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://dshort.com/articles/retail-sales-review.html">
    <title>dshort.com - U.S. Retail Sales</title>
    <dc:date>2011-05-14T13:42:57+00:00</dc:date>
    <link>http://dshort.com/articles/retail-sales-review.html</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA[The charts below give us a rather different view of the U.S. retail economy and the long-term behavior of the consumer. The sales numbers are adjusted for population growth and inflation. For the population data I've used the Bureau of Economic Analysis mid-month series available from the St. Louis FRED with a linear extrapolation for the latest month. Inflation is based on the latest Consumer Price Index. April retail sales adjusted accordingly declined 0.2% from March.

]]></description>
<dc:subject>economic-crisis financial-crisis recession consumerism</dc:subject>
<dc:source>https://pinboard.in/</dc:source>
<dc:identifier>https://pinboard.in/u:Vaguery/b:6031d0e40ead/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:economic-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:recession"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:consumerism"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://economistsview.typepad.com/economistsview/2010/09/greed-may-not-be-good-for-the-economy-but-envy-is-worse.html?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+EconomistsView+%28Economist%27s+View+%28EconomistsView%29%29">
    <title>Economist's View: &quot;Greed May Not be Good for the Economy, but Envy is Worse&quot;</title>
    <dc:date>2010-09-27T11:21:01+00:00</dc:date>
    <link>http://economistsview.typepad.com/economistsview/2010/09/greed-may-not-be-good-for-the-economy-but-envy-is-worse.html?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+EconomistsView+%28Economist%27s+View+%28EconomistsView%29%29</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["People aren't envious, they are frustrated and furious with a system that causes them to lose equity in their homes, have their retirement funds evaporate, have their employment prospects plummet, while at the same time bailing out those at the top who caused the problems.…"]]></description>
<dc:subject>Christianity business-culture financial-crisis bankers-should-start-avoiding-lampposts-right-about-now</dc:subject>
<dc:identifier>https://pinboard.in/u:Vaguery/b:087d86dc2462/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:Christianity"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:business-culture"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bankers-should-start-avoiding-lampposts-right-about-now"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://economistsview.typepad.com/economistsview/2010/09/greed-may-not-be-good-for-the-economy-but-envy-is-worse.html?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+EconomistsView+(Economist's+View+(EconomistsView))">
    <title>Economist's View: &quot;Greed May Not be Good for the Economy, but Envy is Worse&quot;</title>
    <dc:date>2010-09-27T11:21:01+00:00</dc:date>
    <link>http://economistsview.typepad.com/economistsview/2010/09/greed-may-not-be-good-for-the-economy-but-envy-is-worse.html?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+EconomistsView+(Economist's+View+(EconomistsView))</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["People aren't envious, they are frustrated and furious with a system that causes them to lose equity in their homes, have their retirement funds evaporate, have their employment prospects plummet, while at the same time bailing out those at the top who caused the problems.…"
]]></description>
<dc:subject>Christianity business-culture financial-crisis bankers-should-start-avoiding-lampposts-right-about-now</dc:subject>
<dc:identifier>https://pinboard.in/u:Vaguery/b:1b8fa2864e72/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:Christianity"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:business-culture"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bankers-should-start-avoiding-lampposts-right-about-now"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://seekingalpha.com/article/222577-the-great-deleveraging-lie?source=feed">
    <title>The Great Deleveraging Lie -- Seeking Alpha</title>
    <dc:date>2010-08-27T12:42:50+00:00</dc:date>
    <link>http://seekingalpha.com/article/222577-the-great-deleveraging-lie?source=feed</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["So, let’s get down to the nitty gritty. If consumer debt was $13.8 trillion at the end of 2008 and the banks have since written off 5.66% of that debt, total write-offs were $800 billion. If total consumer debt now sits at $13.5 trillion, then consumers have actually taken on $500 billion of additional debt since the end of 2008. The consumer hasn’t cut back at all. They are still spending and borrowing. It is beyond my comprehension that no one on CNBC or in the other mainstream media can do simple math to figure out that the deleveraging story is just a Big Lie."
]]></description>
<dc:subject>financial-crisis credit-cards bankers-should-start-avoiding-lampposts-right-about-now</dc:subject>
<dc:identifier>https://pinboard.in/u:Vaguery/b:8cf9d74aa4e1/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:credit-cards"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bankers-should-start-avoiding-lampposts-right-about-now"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.overcomingbias.com/2010/07/arrogant-professionals.html">
    <title>Overcoming Bias : Arrogant Professionals</title>
    <dc:date>2010-08-24T13:22:04+00:00</dc:date>
    <link>http://www.overcomingbias.com/2010/07/arrogant-professionals.html</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["I strongly suspect these patterns are driven mostly by customers, i.e., that more accurate professionals would be less successful in inspiring confidence by others in them.  If you are a successful professional, that is probably in part because of your unjustified arrogance."
]]></description>
<dc:subject>via:tsuomela medical-culture lawyers financial-crisis bankers-should-start-avoiding-lampposts-right-about-now hubris self-assessment skepticism</dc:subject>
<dc:identifier>https://pinboard.in/u:Vaguery/b:6589d7a69232/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:via:tsuomela"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:medical-culture"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:lawyers"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bankers-should-start-avoiding-lampposts-right-about-now"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:hubris"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:self-assessment"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:skepticism"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://dshort.com/articles/2010/total-return-comparison-01.html">
    <title>dshort.com: We're Underperforming the Great Depression</title>
    <dc:date>2010-08-24T11:39:15+00:00</dc:date>
    <link>http://dshort.com/articles/2010/total-return-comparison-01.html</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["The remaining charts compare market performance since 2000 with the equivalent elapsed time following the peak in 1929. As the final chart shows, the current real total return over the past decade is worse than the performance over the equivalent timeframe during the Great Depression."
]]></description>
<dc:subject>financial-crisis bankers-should-start-avoiding-lampposts-right-about-now economics finance</dc:subject>
<dc:identifier>https://pinboard.in/u:Vaguery/b:fb2c79711d2c/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bankers-should-start-avoiding-lampposts-right-about-now"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:economics"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:finance"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.nakedcapitalism.com/2010/08/pimcos-crescenzi-gets-award-for-artless-candor.html">
    <title>Pimco’s Crescenzi Gets Award for Artless Candor « naked capitalism</title>
    <dc:date>2010-08-11T14:16:52+00:00</dc:date>
    <link>http://www.nakedcapitalism.com/2010/08/pimcos-crescenzi-gets-award-for-artless-candor.html</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["We tried a variant of this program starting in 2002 with a more solid economy and we are still trying to recover from how that movie ended. Einstein defined insanity as doing the same thing over and over again and expecting different results. And since the financial sector profited so handsomely from this exercise the last time around, they have every reason to encourage this insanity."
]]></description>
<dc:subject>public-policy financial-crisis bankers-should-start-avoiding-lampposts-right-about-now</dc:subject>
<dc:identifier>https://pinboard.in/u:Vaguery/b:364377e6b0ad/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:public-policy"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bankers-should-start-avoiding-lampposts-right-about-now"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.nakedcapitalism.com/2010/08/getting-ugly-on-the-commercial-real-estate-front.html">
    <title>Getting Ugly on the Commercial Real Estate Front « naked capitalism</title>
    <dc:date>2010-08-02T12:43:11+00:00</dc:date>
    <link>http://www.nakedcapitalism.com/2010/08/getting-ugly-on-the-commercial-real-estate-front.html</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["It wasn’t all that long ago that the media and banking industry commentators would worry about the coming train wreck in commercial real estate. But peculiarly, that topic has more or less receded from view. It appears the public has only so much interest in banking stories, and the frenzied coverage of financial services non-reform plus eurozone sovereign debt woes, which are really eurozone bank woes, took center stage."
]]></description>
<dc:subject>commercial-real-estate financial-crisis economics public-policy business-development</dc:subject>
<dc:identifier>https://pinboard.in/u:Vaguery/b:bb73fb81f6a7/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:commercial-real-estate"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:economics"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:public-policy"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:business-development"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.angrybearblog.com/2010/08/is-joe-hill-finally-dead-ballad-of-joe.html?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+blogspot%2FHzoh+(Angry+Bear)">
    <title>Is Joe Hill finally dead? (The Ballad of Joe Hill) | Angry Bear</title>
    <dc:date>2010-08-02T12:02:51+00:00</dc:date>
    <link>http://www.angrybearblog.com/2010/08/is-joe-hill-finally-dead-ballad-of-joe.html?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+blogspot%2FHzoh+(Angry+Bear)</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["Look no one wants to see violence in the streets, but history shows that it is not only the capitalists that have 2nd amendment remedies. Joe Hill may have more life in him than they like."
]]></description>
<dc:subject>bankers-should-start-avoiding-lampposts-right-about-now financial-crisis capital types-of economics labor not-an-employee</dc:subject>
<dc:identifier>https://pinboard.in/u:Vaguery/b:0be8e9f92d7e/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bankers-should-start-avoiding-lampposts-right-about-now"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:capital"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:types-of"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:economics"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:labor"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:not-an-employee"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://slacktivist.typepad.com/slacktivist/2010/06/rendering-unto-krugman.html">
    <title>slacktivist: Rendering unto Krugman</title>
    <dc:date>2010-06-29T14:29:54+00:00</dc:date>
    <link>http://slacktivist.typepad.com/slacktivist/2010/06/rendering-unto-krugman.html</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["I'm not an economist, but we've got five applicants for every single job opening. If you tell me that the best response to that situation is to lay off hundreds of thousands of teachers, I will not accept that this means that you're smarter and more expert than I am. I will instead conclude -- regardless of your prestige or position or years of study -- that you're a moral imbecile. And knowing what I know about your inability to make moral judgments I will have no reason to trust you to make complicated macroeconomic ones."
]]></description>
<dc:subject>via:cshalizi financial-crisis economics austerity-is-not-for-everybody-(ever) unemployment worklife macroeconomics public-policy</dc:subject>
<dc:identifier>https://pinboard.in/u:Vaguery/b:b3081591d925/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:via:cshalizi"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:economics"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:austerity-is-not-for-everybody-(ever)"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:unemployment"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:worklife"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:macroeconomics"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:public-policy"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://economistsview.typepad.com/economistsview/2010/06/where-will-the-good-jobs-come-from.html?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+EconomistsView+(Economist's+View+(EconomistsView))">
    <title>Economist's View: Where Will the Good Jobs Come From?</title>
    <dc:date>2010-06-09T11:37:54+00:00</dc:date>
    <link>http://economistsview.typepad.com/economistsview/2010/06/where-will-the-good-jobs-come-from.html?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+EconomistsView+(Economist's+View+(EconomistsView))</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["But even if we substantially improve education, it won't fully solve the problem. There will still be a need for quality jobs that are not all that dependent upon knowledge based skills. However, it's harder to imagine an emerging set of industries that will provide the large number of quality jobs that we need to replace those lost from industries in decline."
]]></description>
<dc:subject>financial-crisis economics unemployment worklife public-policy Depression2.0</dc:subject>
<dc:identifier>https://pinboard.in/u:Vaguery/b:b4fb0591f9b7/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:economics"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:unemployment"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:worklife"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:public-policy"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:Depression2.0"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://seekingalpha.com/article/209155-is-the-next-great-depression-avoidable?source=feed">
    <title>Is The Next Great Depression Avoidable? -- Seeking Alpha</title>
    <dc:date>2010-06-09T11:14:39+00:00</dc:date>
    <link>http://seekingalpha.com/article/209155-is-the-next-great-depression-avoidable?source=feed</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["If countries like Germany start to have issues selling their treasury bonds, how long will it take before it impacts the global bond market? It shouldn’t take long. That’s why Europe cannot afford the same quantitative easing as the U.S. has done in the last year. Thus, the Greece Crisis is not well contained yet. Is the Great Depression Avoidable?"
]]></description>
<dc:subject>financial-crisis Depression2.0 finance public-policy economics woops</dc:subject>
<dc:identifier>https://pinboard.in/u:Vaguery/b:58cd60e5c83e/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:Depression2.0"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:finance"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:public-policy"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:economics"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:woops"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://robertreich.org/post/650145579/why-obama-should-put-bp-under-temporary-receivership">
    <title>Robert Reich (Why Obama Should Put BP Under Temporary Receivership)</title>
    <dc:date>2010-06-08T15:10:21+00:00</dc:date>
    <link>http://robertreich.org/post/650145579/why-obama-should-put-bp-under-temporary-receivership</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["If the government can take over giant global insurer AIG and the auto giant General Motors and replace their CEOs, in order to keep them financially solvent, it should be able to put BP’s north American operations into temporary receivership in order to stop one of the worst environmental disasters in U.S. history."
]]></description>
<dc:subject>financial-crisis oilspill BP intervention government public-policy accountability corporatism</dc:subject>
<dc:identifier>https://pinboard.in/u:Vaguery/b:c0d4e6eb975c/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:oilspill"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:BP"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:intervention"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:government"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:public-policy"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:accountability"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:corporatism"/>
</rdf:Bag></taxo:topics>
</item>
<item rdf:about="http://www.common-place.org/vol-10/no-03/lepler/">
    <title>Pictures of Panic</title>
    <dc:date>2010-06-07T20:35:11+00:00</dc:date>
    <link>http://www.common-place.org/vol-10/no-03/lepler/</link>
    <dc:creator>Vaguery</dc:creator><description><![CDATA["During the century separating the 1830s from the 1930s, proponents of laissez-faire were so successful in advocating an economy that purportedly operated independent of the political system that New Deal supporters had to convince voters that the government could (and should) intervene economically on behalf of suffering Americans. In the 1930s, Dorothea Lange used a technology unavailable in 1837 to photograph the plight of economic victims in her composition "Migrant Mother." Shot in a California pea picker's camp during the Great Depression for the government's Farm Security Administration, the photograph is strikingly similar to "Specie Claws." The posture of the central characters is nearly identical. Both pictures appeal to emotion to make an argument about the effects of economic events on families.…"
]]></description>
<dc:subject>history art-history caricature cartoons financial-crisis 1837 bank-panic self-image cultural-norms cultural-assumptions</dc:subject>
<dc:identifier>https://pinboard.in/u:Vaguery/b:66e6ff7f7c45/</dc:identifier>
<taxo:topics><rdf:Bag>	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:history"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:art-history"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:caricature"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:cartoons"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:financial-crisis"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:1837"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:bank-panic"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:self-image"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:cultural-norms"/>
	<rdf:li rdf:resource="https://pinboard.in/u:Vaguery/t:cultural-assumptions"/>
</rdf:Bag></taxo:topics>
</item>
</rdf:RDF>