I got this as a response to a post I made a while back. And rarely do I post commenters' comments beyond just the post they made their comment on. But this was worthwhile as it was similar to what I saw when I was teaching economics. The school I was at needed equipment and gear to teach the kids. This would have required a new building and new equipment. However, somebody got the ingenious idea that they would rent some nearby cheap office space and require the students to get "general ed requirements." Then in shifts the kids would come in and take their general education requirements while the other students used whatever lab equipment they needed. They more or less doubled enrollment without having to spend twice on the gear. Anyway, here's the post;
"Ironicly the worthless degrees are VERY much about capitalisim, or at least very much about greed.
One reason why there are more lawyers than there are engineers is that a school can make more money selling law degrees than engineering degrees. Once you have the sunk cost of the classrooms and the law library you only need some washed up litigators for professors, and if you want to better amortize your sunk costs you can always add a few of them as adjuncts professors and set up a night program. As such the per unit cost of each additional student is pretty low.
On the other hand scientists require labs, materials, experiments, equipment, possibly even field work. This is expensive. It costs a lot for Dr. Wu to research the cutting edge of superconductivity, and Dr. Chandra to research quantum computing and the cost of an observatory for Dr. Goldstien to study Kuiper Belt objects of the outer solar system...well that gets fobbed off on the Government. By comparision it is downright cheap for Prof. Henrette to research the Anit-Femminist Subtext of 14th Century French Divorce Laws...even if that means sending her to Paris for a month.
So a university will prefer to open a law school (along with the prestige that brings) over building a cutting edge hypersonic wind tunnel for aeronautics research. The wind tunnel will cost LOTS of money and few students use it. The tuition is about the same as in the Law School, (probably lower in fact) and per unit cost (to the school) of a Masters Degree in hypersonic aeronautical engineering is going to be pretty high.
Furthermore, the school won't see much if any direct return on investment, and will loose money. (Sure they may get a NASA contract or two, but how many hypersonic aeronautical engineers become a State Senator someday? or come back to the Alumni office and cut a big check to donate a building in their name?)
On the other hand with a Law School they can dangle massively inflated "average starting sallary" figures at prospective students, and gladly take the money that Sallie Mae loans the student victims for three, or four, or seven years. The per unit cost of a law degree is very low (see above). The school makes tons of money, today, and has a handful of influental alumni tommorow.
You see this to an even greater degree (no pun intended) for undergrad. The tuition is the same for an engineering major and a femminist studies major... but what does it cost the school to "educate" the femminist studies major? Assistant Professor sallary and "domestic partner benefits" for a couple of otherwise unemployable ex-activists, a handful of subscriptions to obscure journals for the library, the sunk cost of power and heat for a couple of classrooms, the coffee machine, and some food for the department's cats. At some of the more expensive private schools a single one of Daddy's tuition checks has covered the cost of his little LUG's entire degree, and every dime from there on in is (for the school) pure gravy.
If this means the school then turns these students loose with a mountian of debt and few, if any, marketable skills...well that's not the school's problem."
Thursday, May 08, 2008
Tuesday, May 06, 2008
Why Work When You're Just Going to Pay the Government to Take Care of Your Kids?
It is a curiosity of mine why most people bring children into this world.
Seriously, it is.
For it seems to me that children are viewed not as sentient human beings that have just as much entitlement to life and fair treatment as the rest of us, but rather pieces of furniture that go well with the SUV that we have for our own selfish desires.
And the minute a marriage becomes "inconvenient" the knee-jerk solution is divorce.
No, no, forget about the kid. No, "what, that kid? Why it's just a piece of furniture. It doesn't have feelings or emotions. Besides, our mutual hatred for each other and desire to get furthest away from one another supersedes than that child's "feelings" and psychological well-being if it has any. Why, there should be no ramifications for bringing in another life into this world if it inconveniences us in the slightest."
And again, though I hate children, I don't like to see them suffer. For like dogs, I deem them largely innocent and better than the average human. Thus when I am king I will make it illegal to divorce until all the children you brought into the world are 18 and mature enough to understand the concept of divorce. And there will be a severe divorce tax. Like half your freaking net worth. And I'm not just talking about the guys. I'm a true believer in equality. Women will pay too. I will force people to realize that if they brought another human into the world, then that human, no matter much you desire to treat it like a disposable addition to the drapes, is a human with emotions, feelings and thoughts that is just as entitled to humane treatment as the rest of us.
I will also enforce another thing. Somebody, be it the husband or the wife is staying home to take care of that kid. I don't care if it's unconventional. I don't care if it's old fashioned. I damn right don't care if it's dictatorial. You brought a human being into this world under the pretense you "love it" ergo one of you, by golly, be it the husband or the wife is going to stay at home and raise it. And if you dare outsource that child's upbringing to a nanny or day care center, I hope you enjoy your long lonely years in a nursing home, because that kid is not going to come visit you, and nor should s/he.
In any case what tripped this tirade is these charts I found and I forget where. It showed me something I already suspected to be true. That when neither of the parents decide to stay at home and take care of the kid, it's not like they're saving money or coming out ahead. They still have to spend just as much money on "childcare," as well as pay more in taxes because the default babysitter in most cases is the government.
So look, seriously. I am an evil, nazi, facist, racist, Republican, sexist, evil, capitalist and overall general poopy person. I don't like kids and have been known to trip old people. But do you think maybe one of you might want to stay home and take care of the kid instead of having the government do it for you? I mean, seriously, you brought the kid into this world for a reason, right? Presumably to love it and cherish it? Can you perhaps set the freaking laptop down and instead of just slave away to pay the extra taxes and child care costs to pay somebody else to do it for you, maybe do it yourself? Or heck, maybe just for the kid's psychological health "feign" like you care more about the kid than your career. I don't know, as I am not a father, but it would seem to me (despite my obvious hatred for children and of course being evil incarnate) it would seem a posh lifestyle to have my wife work whilst I play with junior and teach him how to make farting noises with his armpit, spit cherry pits with the pressurized tongue technique and how to make slingshots.
Then again, what do I know. I'm just some dumb economist that refuses to conform, doesn't adhere to group think and has the slightest audacity to concoct the occasional independent thought. You know, crazy thoughts, like children are humans too.
Seriously, it is.
For it seems to me that children are viewed not as sentient human beings that have just as much entitlement to life and fair treatment as the rest of us, but rather pieces of furniture that go well with the SUV that we have for our own selfish desires.
And the minute a marriage becomes "inconvenient" the knee-jerk solution is divorce.
No, no, forget about the kid. No, "what, that kid? Why it's just a piece of furniture. It doesn't have feelings or emotions. Besides, our mutual hatred for each other and desire to get furthest away from one another supersedes than that child's "feelings" and psychological well-being if it has any. Why, there should be no ramifications for bringing in another life into this world if it inconveniences us in the slightest."
And again, though I hate children, I don't like to see them suffer. For like dogs, I deem them largely innocent and better than the average human. Thus when I am king I will make it illegal to divorce until all the children you brought into the world are 18 and mature enough to understand the concept of divorce. And there will be a severe divorce tax. Like half your freaking net worth. And I'm not just talking about the guys. I'm a true believer in equality. Women will pay too. I will force people to realize that if they brought another human into the world, then that human, no matter much you desire to treat it like a disposable addition to the drapes, is a human with emotions, feelings and thoughts that is just as entitled to humane treatment as the rest of us.
I will also enforce another thing. Somebody, be it the husband or the wife is staying home to take care of that kid. I don't care if it's unconventional. I don't care if it's old fashioned. I damn right don't care if it's dictatorial. You brought a human being into this world under the pretense you "love it" ergo one of you, by golly, be it the husband or the wife is going to stay at home and raise it. And if you dare outsource that child's upbringing to a nanny or day care center, I hope you enjoy your long lonely years in a nursing home, because that kid is not going to come visit you, and nor should s/he.
In any case what tripped this tirade is these charts I found and I forget where. It showed me something I already suspected to be true. That when neither of the parents decide to stay at home and take care of the kid, it's not like they're saving money or coming out ahead. They still have to spend just as much money on "childcare," as well as pay more in taxes because the default babysitter in most cases is the government.
So look, seriously. I am an evil, nazi, facist, racist, Republican, sexist, evil, capitalist and overall general poopy person. I don't like kids and have been known to trip old people. But do you think maybe one of you might want to stay home and take care of the kid instead of having the government do it for you? I mean, seriously, you brought the kid into this world for a reason, right? Presumably to love it and cherish it? Can you perhaps set the freaking laptop down and instead of just slave away to pay the extra taxes and child care costs to pay somebody else to do it for you, maybe do it yourself? Or heck, maybe just for the kid's psychological health "feign" like you care more about the kid than your career. I don't know, as I am not a father, but it would seem to me (despite my obvious hatred for children and of course being evil incarnate) it would seem a posh lifestyle to have my wife work whilst I play with junior and teach him how to make farting noises with his armpit, spit cherry pits with the pressurized tongue technique and how to make slingshots.
Then again, what do I know. I'm just some dumb economist that refuses to conform, doesn't adhere to group think and has the slightest audacity to concoct the occasional independent thought. You know, crazy thoughts, like children are humans too.
Buy Food
This is hilarious, but he will be shot for his speaking of the truth and common sense.
Food should be free and so should health care and we need to subsidize farmers. And if you disagree you will be shot.
ht to Alice
Food should be free and so should health care and we need to subsidize farmers. And if you disagree you will be shot.
ht to Alice
I Don't Want to Use Recycled Toilet Paper
So it was finally warm enough to run outside yesterday and to keep the finery know as the Captain's bod in shape I decided to go running. I run in the city and since this is Minneapolis, that means everything is pretty much lefty, including the ice cream store I go to, to treat myself after I run.
Ended up having to go to the bathroom and they had done some remodeling and put in a new bathroom. Very nicely done and while I'm sitting there I look to my right and see this on the wrapping of the toilet paper;
I don't know about you, but don't you think we're taking this whole "green" thing a little bit far. I mean, do you really have to recycle toilet paper to save the planet? Of all the things we could do, you know like nuclear power, get more efficient cars, drive motorcycles, allow the population to telecommute, I think recycled toilet paper is a bit much, huh?
In any case, a new item to add to the list of "girls the Captain won't date;"
Item #378c - Girls that buy recycled toilet paper.
Ended up having to go to the bathroom and they had done some remodeling and put in a new bathroom. Very nicely done and while I'm sitting there I look to my right and see this on the wrapping of the toilet paper;
I don't know about you, but don't you think we're taking this whole "green" thing a little bit far. I mean, do you really have to recycle toilet paper to save the planet? Of all the things we could do, you know like nuclear power, get more efficient cars, drive motorcycles, allow the population to telecommute, I think recycled toilet paper is a bit much, huh?
In any case, a new item to add to the list of "girls the Captain won't date;"
Item #378c - Girls that buy recycled toilet paper.
Monday, May 05, 2008
Choosing the Path of Least Resistance When It Comes to Women
The Captain is not married, however he is courting a very beautiful dame that he loves dearly.
However, though not married, he has come to some of the same realizations that married men no doubt have and thus, instead of keeping quiet about it (which married men do because they sadistically want to see you to go through the rigamarole they had to) he has opted instead to tell you about it.
The Babe asked your beloved Captain if he wanted an apple.
Now I have nothing against apples, I like apples, but at that particular point in time, I did not want an apple. Thusly I said, "no, I don't want an apple."
However, you must realize the original question was not a question. It was a command. Oh sure, she phrased it as a question. The tones she used suggested it was a question. But it was no question. It was a declarative statement. It was a direct order. A direct order, I did not follow.
"Well why don't you want the apple?"
Kind of perplexed I said, "well I just don't want an apple right now."
"But apples are good for you."
And then I realized what was going on. She WANTED me to have an apple. If she seriously just was curious if I wanted an apple, she would have stopped the interrogation when I said, "no, I don't want an apple." But she kept up with the line of inquiry, which I should have noticed, whereby I should have accepted defeat and just said, "yes, I want the apple." But no, I had to choose the path of most resistance.
Now what you will learn about choosing the path of most resistance is that you are guaranteed to spend more effort and energy fighting for your personal preferences than you would have, had you just capitulated and ate the damn apple. And I know what you're thinking, "If I don't want an apple, then it is my constitutional right to not have an apple." But you are NOT thinking because what married men will tell you is that it's not worth it. Just eat the damn apple. And not only eat the damn apple, but when she asks you say, "yes, I would love an apple."
Now this gets back to what my father had told me and I should have followed;
"When she's happy, you're happy."
I don't claim to know what women want. But I do know that if you love your woman just try to make her happy. And if it means doing something as menial as eating an apple you don't have a particular appetite for, or taking out the garbage or putting away the dishes in a particular way that makes absolutely no logical sense, then just do it. Not just because you love her, but because it's just easier to choose the path of least resistance.
However, though not married, he has come to some of the same realizations that married men no doubt have and thus, instead of keeping quiet about it (which married men do because they sadistically want to see you to go through the rigamarole they had to) he has opted instead to tell you about it.
The Babe asked your beloved Captain if he wanted an apple.
Now I have nothing against apples, I like apples, but at that particular point in time, I did not want an apple. Thusly I said, "no, I don't want an apple."
However, you must realize the original question was not a question. It was a command. Oh sure, she phrased it as a question. The tones she used suggested it was a question. But it was no question. It was a declarative statement. It was a direct order. A direct order, I did not follow.
"Well why don't you want the apple?"
Kind of perplexed I said, "well I just don't want an apple right now."
"But apples are good for you."
And then I realized what was going on. She WANTED me to have an apple. If she seriously just was curious if I wanted an apple, she would have stopped the interrogation when I said, "no, I don't want an apple." But she kept up with the line of inquiry, which I should have noticed, whereby I should have accepted defeat and just said, "yes, I want the apple." But no, I had to choose the path of most resistance.
Now what you will learn about choosing the path of most resistance is that you are guaranteed to spend more effort and energy fighting for your personal preferences than you would have, had you just capitulated and ate the damn apple. And I know what you're thinking, "If I don't want an apple, then it is my constitutional right to not have an apple." But you are NOT thinking because what married men will tell you is that it's not worth it. Just eat the damn apple. And not only eat the damn apple, but when she asks you say, "yes, I would love an apple."
Now this gets back to what my father had told me and I should have followed;
"When she's happy, you're happy."
I don't claim to know what women want. But I do know that if you love your woman just try to make her happy. And if it means doing something as menial as eating an apple you don't have a particular appetite for, or taking out the garbage or putting away the dishes in a particular way that makes absolutely no logical sense, then just do it. Not just because you love her, but because it's just easier to choose the path of least resistance.
I Hate Blackberries
They tried to give me one, and as far as I can figure out the purpose of Blackberries are;
1. To keep track of you when you're not at work.
2. To give you more work when you're not at work.
3. To give you something that tries to be both a phone and a mini-laptop but accomplishes neither.
4. To piss you off when you have to type on those freaking little keypads.
5. To give you something to make you look important when in actuality you're just telling the world, "Hey, my company just pissed away $500 on this thing that frankly doesn't do much that my laptop and cell phone can't."
1. To keep track of you when you're not at work.
2. To give you more work when you're not at work.
3. To give you something that tries to be both a phone and a mini-laptop but accomplishes neither.
4. To piss you off when you have to type on those freaking little keypads.
5. To give you something to make you look important when in actuality you're just telling the world, "Hey, my company just pissed away $500 on this thing that frankly doesn't do much that my laptop and cell phone can't."
The Law of Rationalization Hamster Strength
Law - The strength of a rationalization hamster is inversely related to the looks of its host.
Rationale - The rationalization hamster's job is (simply) to force cognitive dissonance and delusion in its host. If the host is particularly attractive, the rationalization hamster does not have to work that hard. If the host is not particularly attractive, the rationalization hamster has to work overtime to achieve its mandates.
Premises - The rationalization hamster is a psychological entity that cannot tire nor die. It is a limitless energy source. The rationalization hamster will not stop nor relent until it achieves it's objective.
I swear, after reading the article I'm thinking instead of an "Enjoy the Decline" how-to-book, I would make a ton more money writing "Captain Capitalism's Harlequin Romance Novels."
"I looked at her...my beautiful economics professor. Oh sure, she was 47, and sure, she had 4 children and two ex-husbands, and sure the other 23 year old trust fund baby men in my class wouldn't find her attractive...but I loved her for her intelligence. Her unwillingness to conform and teach us economics as told by the establishment. No, she rebelled. She taught us Marx. She taught us Keynes. She showed me what true beauty was, and was meant to be. She was my liberator. She liberated me from the evil thinking that was foisted upon me by my evil multi-billion-dollar father. I didn't have to work. But I didn't care. I was burning for her, I needed to hear her intelligent words and see her exude independence.
I swore to myself, once I earned my A in class through intelligence and parroting, I would drive up in my 2011 Mercedes Series 7 and propose to my economics and romance professor and abscond with my father's trust fund and we could live on the beaches of Gao and burn incense and make candles and eat organic grass shoots, and write environmentalist poetry.
And we'd get cats."
Rationale - The rationalization hamster's job is (simply) to force cognitive dissonance and delusion in its host. If the host is particularly attractive, the rationalization hamster does not have to work that hard. If the host is not particularly attractive, the rationalization hamster has to work overtime to achieve its mandates.
Premises - The rationalization hamster is a psychological entity that cannot tire nor die. It is a limitless energy source. The rationalization hamster will not stop nor relent until it achieves it's objective.
I swear, after reading the article I'm thinking instead of an "Enjoy the Decline" how-to-book, I would make a ton more money writing "Captain Capitalism's Harlequin Romance Novels."
"I looked at her...my beautiful economics professor. Oh sure, she was 47, and sure, she had 4 children and two ex-husbands, and sure the other 23 year old trust fund baby men in my class wouldn't find her attractive...but I loved her for her intelligence. Her unwillingness to conform and teach us economics as told by the establishment. No, she rebelled. She taught us Marx. She taught us Keynes. She showed me what true beauty was, and was meant to be. She was my liberator. She liberated me from the evil thinking that was foisted upon me by my evil multi-billion-dollar father. I didn't have to work. But I didn't care. I was burning for her, I needed to hear her intelligent words and see her exude independence.
I swore to myself, once I earned my A in class through intelligence and parroting, I would drive up in my 2011 Mercedes Series 7 and propose to my economics and romance professor and abscond with my father's trust fund and we could live on the beaches of Gao and burn incense and make candles and eat organic grass shoots, and write environmentalist poetry.
And we'd get cats."
Saturday, May 03, 2008
You "Think" They Might Make a Comeback?
I think buffalo or the more correct term "bison" are quite majestic creatures. I run into them quite often when hiking or fossil hunting in the Dakotas and Nebraska.
But I get a kick out of this "there's a chance they might make a comeback."
A "chance????"
Look, people, all you have to do is go hiking in Badlands National Park in spring and you will be hard pressed not to step in buffalo poo. I covered over 24 miles in one day and it was a continuous task not to step in something. I am left to conclude one of two things;
1. Either a few buffalo poo a HELL of a lot or;
2. There's a lot more buffalo than you think.
I do genuinely hope that the buffalo do return to their previous numbers. But if the do then another problem will be solved;
We won't have a fertilizer shortage anymore.
But I get a kick out of this "there's a chance they might make a comeback."
A "chance????"
Look, people, all you have to do is go hiking in Badlands National Park in spring and you will be hard pressed not to step in buffalo poo. I covered over 24 miles in one day and it was a continuous task not to step in something. I am left to conclude one of two things;
1. Either a few buffalo poo a HELL of a lot or;
2. There's a lot more buffalo than you think.
I do genuinely hope that the buffalo do return to their previous numbers. But if the do then another problem will be solved;
We won't have a fertilizer shortage anymore.
A Reason to Live Until July 2009
Sweet.
I love the Ice Age movies. Practically impossible to;
1. Get shot down for the date
2. Goof up the date
Just shut up and let Scrat do all the work for you.
I love the Ice Age movies. Practically impossible to;
1. Get shot down for the date
2. Goof up the date
Just shut up and let Scrat do all the work for you.
Friday, May 02, 2008
Do Not, DO NOT Tell Me Anything About Global Warming
It's starting to piss me off. Not the idiots damning me to ecological hell if I don't believe in global warming, I'm starting to talk about the weather this spring in Minnesota.
SNOW IN FREAKING MAY!!!!!
Oh, wait, I forgot, it's global "change."
I remember having a conversation with my buddy Chico who is on the opposite political spectrum as I;
Cpt. - "We can't get our motorcycles out to go riding because of this damn cold."
Chico - "Yeah, tell me about it."
Cpt. - "Global warming my ass."
Chico - "Dude, it is global warming!"
Cpt. - "What???"
Chico - "When the climate changes that's global warming. So if it gets colder it's global warming."
Cpt. - "Then why did they call it "global warming" instead of "climate change?"
Of course, no answer.
SNOW IN FREAKING MAY!!!!!
Oh, wait, I forgot, it's global "change."
I remember having a conversation with my buddy Chico who is on the opposite political spectrum as I;
Cpt. - "We can't get our motorcycles out to go riding because of this damn cold."
Chico - "Yeah, tell me about it."
Cpt. - "Global warming my ass."
Chico - "Dude, it is global warming!"
Cpt. - "What???"
Chico - "When the climate changes that's global warming. So if it gets colder it's global warming."
Cpt. - "Then why did they call it "global warming" instead of "climate change?"
Of course, no answer.
Wednesday, April 30, 2008
I'll Take "Buying Myself 10 More Years of Job Security" for $600, Alex
Seriously. Do you expect the American public, let alone the rest of the world to fall for such BS?
"Oh, ummmm...lemme see. The planet has been cooling since 1998...that's not a good trend. And this schtick about how when it gets colder in certain areas means it's MORE proof of global warming is starting to wear thin even on the most brainwashed dolts in the western world. So now we have to shift gears and call it "climate change." And umm...since the temperatures have been going down we're going to have to come up with a new excuse to rationalize the government grant checks we get. So, uhhhh....yeah, there's this uhhh...."trend" that will temporarily "halt" global warming for ummmm...(lemme see, how many years of additional grant money do I need to buy myself that gas guzzling SUV) uh, 10, yeah, 10 years, that's the ticket! Yeah! 10 years of global cooling, but then it's going to heat right back up. (Whewwww! Almost had to work or produce something of worth there for a second!) Yeah, 10 years of global cooling, then, THEN we're back on track for global warming...which doesn't matter because as long as the climate changes, cooling, heating, drying, moisturizing, no matter what, that means it's global warming and Bush = Hitler=US=Bad=Tax People More=I Don't Have to Hold a Real Job Down."
Again, I call for a database to record all the scientists that fight tooth and nail that global warming is occurring so we can publish their names when it's snowing in April in Minnesota...OH WAIT, THAT'S ALREADY HAPPENING!
Has anybody bothered to point the hypocrisy of these global warming zealots that their beliefs are on par with those they mock most; ie-Christians. Seriously, they're not acting any different than the "religious right" they're so prone to mock;
You either believe in global warming or you're damned.
You either believe in Jesus or you're damned.
I think the majority of the country, frankly dear, just doesn't give a damn.
"Oh, ummmm...lemme see. The planet has been cooling since 1998...that's not a good trend. And this schtick about how when it gets colder in certain areas means it's MORE proof of global warming is starting to wear thin even on the most brainwashed dolts in the western world. So now we have to shift gears and call it "climate change." And umm...since the temperatures have been going down we're going to have to come up with a new excuse to rationalize the government grant checks we get. So, uhhhh....yeah, there's this uhhh...."trend" that will temporarily "halt" global warming for ummmm...(lemme see, how many years of additional grant money do I need to buy myself that gas guzzling SUV) uh, 10, yeah, 10 years, that's the ticket! Yeah! 10 years of global cooling, but then it's going to heat right back up. (Whewwww! Almost had to work or produce something of worth there for a second!) Yeah, 10 years of global cooling, then, THEN we're back on track for global warming...which doesn't matter because as long as the climate changes, cooling, heating, drying, moisturizing, no matter what, that means it's global warming and Bush = Hitler=US=Bad=Tax People More=I Don't Have to Hold a Real Job Down."
Again, I call for a database to record all the scientists that fight tooth and nail that global warming is occurring so we can publish their names when it's snowing in April in Minnesota...OH WAIT, THAT'S ALREADY HAPPENING!
Has anybody bothered to point the hypocrisy of these global warming zealots that their beliefs are on par with those they mock most; ie-Christians. Seriously, they're not acting any different than the "religious right" they're so prone to mock;
You either believe in global warming or you're damned.
You either believe in Jesus or you're damned.
I think the majority of the country, frankly dear, just doesn't give a damn.
Interesting Chart on Club for Growth
With the new figures showing a positive GDP growth figure, the likelihood for recession has dropped on the markets (you have to click on the USRECESSION link in the quote and it will pull up the chart);
I'm still of the opinion we're heading for a recession. Or at least a lengthy period of no growth.
ht to Club for Growth
I'm still of the opinion we're heading for a recession. Or at least a lengthy period of no growth.
ht to Club for Growth
Tuesday, April 29, 2008
Delinquency Rates
Posts are going to be a bit short and sweet as I'm finishing up the final chapter in the book. Then comes the editing process and turning all the charts into a standardized format. In the meantime here's a chart I thought we might already be able to surmise. Delinquencies, a forebearer of defaults are growing exponentially;
My question is if delinquencies turn into defaults and reach levels seen back in 1990-1991, what will that do to bank's capital?
My question is if delinquencies turn into defaults and reach levels seen back in 1990-1991, what will that do to bank's capital?
Things Economists Don't Do
I'm getting enough guff from my friends so I've decided to make my case here.
Look, there are just some things that make no economic sense in doing and the rest of you are just going to have to admit that you do it out of anal retentive habit, ergo I'm not the one with the problem, you are.
Here are a list of things that economists don't do, because, well...it's just not economical.
1. Make our beds - please, seriously, do I have to explain this? There is no point in making a bed. Why make it, you will just unmake it once you sleep in it, which is a practical guarantee, unless you are like me and sleep most of the time on a couch despite there being a perfectly functional bed upstairs.
2. Folding clothes - UGH!!! You have got to be kidding me?! I can understand hanging up your suits or ironing your clothes if you have some important function. But folding a sweatshirt????? Come on (cough couch, CHICO!!!)!!! What is the point of folding clothes aside from purposely wasting precious moments of your finite lives? Just smoosh them into the dresser and pull them out as needed.
3. 1 fork, 1 spoon, 1 bowl, 1 cup, 1 martini glass. This is all I have for "dishes" and I don't care, if you're a bachelor that's all you need too. The reason why is that I found out when I had a lot of dishes, a lot of dirty dishes piled up. When you throw away all your dishes except for what you need, then you only have this token amount of dirty dishes to wash once every three months. Simply because you go out and eat most of the time. But be aware, women, notably of the mother and aunt persuasion will try to unload their excess dishes on you. Remember to say no and stick with the "one of each" rule.
4. "I have to clean." No you don't. You have to clean the bathroom. You have to clean the sinks. You have to clean places where bacteria and other biohazards may form, but you do not have to clean every aspect of every room of every house. Seriously, papers astrew about do not carry bacteria. Clothes hanging over the chairs do not carry ebola. You can leave the place as is and as long as you clean out places where the plague will grow you'll be alright. Putting everything in its place only means you'll have to disjar it from its place to use it. Best leave it out on the counter where it's easily accessible.
5. The car is a perfect place for storage. Especially during the winter months of Minnesota. Why I don't know how many times I've availed myself of a great deal on Healthy Choice entrees to the point there wasn't enough room in the freezer. Fortunately it's 20 below in Minnesota making the trunk or back seat of a car an excellent substitute for a freezer.
6. While we're talking about cars, "clean out the car."
WHY????
Unless I have a date the car substitutes as a great freezer during winter and a great aluminum collector during the rest of the year. I can just toss finished cans of Red Bull into the back and when necessary collect them convienently when I decide to cash them in for coin.
7. Pick up after yourself. What, am I a freaking kid??? You never, EVER pick up after yourself. That's the benefit of being an adult. You can live like a kid and not have a nagging parent over you. Only unless you host company, which if you're smart, you'll just rent the local American Legion, you can leave the place astrew with all your toys. You can leave your comic books on the floor, your video games in a pile, the suits you don't care to wear in the corner and the papers you have yet to organize spread out all over the place. And as long as you know roughly where you placed everything, then it's still considered "organized" and it isn't a mess. Only to the untrained, non-economist, conformist eye is it a mess.
I hope this has helped all you non-conformists in fighting the obvious communist plot to unnecessarily force us to make our beds.
Look, there are just some things that make no economic sense in doing and the rest of you are just going to have to admit that you do it out of anal retentive habit, ergo I'm not the one with the problem, you are.
Here are a list of things that economists don't do, because, well...it's just not economical.
1. Make our beds - please, seriously, do I have to explain this? There is no point in making a bed. Why make it, you will just unmake it once you sleep in it, which is a practical guarantee, unless you are like me and sleep most of the time on a couch despite there being a perfectly functional bed upstairs.
2. Folding clothes - UGH!!! You have got to be kidding me?! I can understand hanging up your suits or ironing your clothes if you have some important function. But folding a sweatshirt????? Come on (cough couch, CHICO!!!)!!! What is the point of folding clothes aside from purposely wasting precious moments of your finite lives? Just smoosh them into the dresser and pull them out as needed.
3. 1 fork, 1 spoon, 1 bowl, 1 cup, 1 martini glass. This is all I have for "dishes" and I don't care, if you're a bachelor that's all you need too. The reason why is that I found out when I had a lot of dishes, a lot of dirty dishes piled up. When you throw away all your dishes except for what you need, then you only have this token amount of dirty dishes to wash once every three months. Simply because you go out and eat most of the time. But be aware, women, notably of the mother and aunt persuasion will try to unload their excess dishes on you. Remember to say no and stick with the "one of each" rule.
4. "I have to clean." No you don't. You have to clean the bathroom. You have to clean the sinks. You have to clean places where bacteria and other biohazards may form, but you do not have to clean every aspect of every room of every house. Seriously, papers astrew about do not carry bacteria. Clothes hanging over the chairs do not carry ebola. You can leave the place as is and as long as you clean out places where the plague will grow you'll be alright. Putting everything in its place only means you'll have to disjar it from its place to use it. Best leave it out on the counter where it's easily accessible.
5. The car is a perfect place for storage. Especially during the winter months of Minnesota. Why I don't know how many times I've availed myself of a great deal on Healthy Choice entrees to the point there wasn't enough room in the freezer. Fortunately it's 20 below in Minnesota making the trunk or back seat of a car an excellent substitute for a freezer.
6. While we're talking about cars, "clean out the car."
WHY????
Unless I have a date the car substitutes as a great freezer during winter and a great aluminum collector during the rest of the year. I can just toss finished cans of Red Bull into the back and when necessary collect them convienently when I decide to cash them in for coin.
7. Pick up after yourself. What, am I a freaking kid??? You never, EVER pick up after yourself. That's the benefit of being an adult. You can live like a kid and not have a nagging parent over you. Only unless you host company, which if you're smart, you'll just rent the local American Legion, you can leave the place astrew with all your toys. You can leave your comic books on the floor, your video games in a pile, the suits you don't care to wear in the corner and the papers you have yet to organize spread out all over the place. And as long as you know roughly where you placed everything, then it's still considered "organized" and it isn't a mess. Only to the untrained, non-economist, conformist eye is it a mess.
I hope this has helped all you non-conformists in fighting the obvious communist plot to unnecessarily force us to make our beds.
Sunday, April 27, 2008
The Buyers Will Pay for Their Arrogance
Kudos to Cotty Lowry.
While no doubt there is a housing bubble and most certainly prices could go down more, I just had to photograph this and post it as it is pure genius.
My realtor and I were talking about how arrogant buyers have become. Cancelling their showings at the last minute, never showing up in the first place, making offers a full 50% below the market value of the property. He has also told me stories about how sellers have just given up and taken their homes off the market (thereby decreasing the supply). One seller is now even charging to show her place as her tenants are getting annoyed with the constant showings, but never a sale.
Though a buyers market and no doubt about it, I do think buyers risk waiting too long. Soon, inevitably on the sole fact people like to make babies, but there isn't any more land being produced, in the long term housing prices will inevitably stabalize and go up. The question is whether buyers will have gotten into the market by that time or were still under the impression you could buy property for a song.
While no doubt there is a housing bubble and most certainly prices could go down more, I just had to photograph this and post it as it is pure genius.
My realtor and I were talking about how arrogant buyers have become. Cancelling their showings at the last minute, never showing up in the first place, making offers a full 50% below the market value of the property. He has also told me stories about how sellers have just given up and taken their homes off the market (thereby decreasing the supply). One seller is now even charging to show her place as her tenants are getting annoyed with the constant showings, but never a sale.
Though a buyers market and no doubt about it, I do think buyers risk waiting too long. Soon, inevitably on the sole fact people like to make babies, but there isn't any more land being produced, in the long term housing prices will inevitably stabalize and go up. The question is whether buyers will have gotten into the market by that time or were still under the impression you could buy property for a song.
I Don't Like Kids
Yet at the same time don't hate them either. Just glad I don't have any. Still this was forwarded to me. It originally struck me as funny, then got around to thinking about the kids that had to suffer through this made me actually kind of sick.
Regardless I will warn you it is very vulgar and grotesque. Cursing included.
Regardless I will warn you it is very vulgar and grotesque. Cursing included.
Friday, April 25, 2008
Thursday, April 24, 2008
You Will Drive Drunk
I knew they drank a lot here, but I didn't realize it was so boring in the Midwest all that we have to do is drink.
Though my friend Brian had an interesting observation;
"At our age, women have got to realize they aren't competing against other women. They're competing against a good bottle of scotch and a old school Bogart movie. A known quantity. At least when I have scotch and watch Boggie it's a guaranteed good time. Go out with a girl and the risk return trade off isn't worth it."
I surmise he'd agree with the new love of my life BioShock. Oh she's heavenly. And a cheap date too!
PS-Noticed that Massachusetts is just as drunk as we are. Didn't know if that was solely due to Ted Kenny or not. HAR!!!!!
Though my friend Brian had an interesting observation;
"At our age, women have got to realize they aren't competing against other women. They're competing against a good bottle of scotch and a old school Bogart movie. A known quantity. At least when I have scotch and watch Boggie it's a guaranteed good time. Go out with a girl and the risk return trade off isn't worth it."
I surmise he'd agree with the new love of my life BioShock. Oh she's heavenly. And a cheap date too!
PS-Noticed that Massachusetts is just as drunk as we are. Didn't know if that was solely due to Ted Kenny or not. HAR!!!!!
Goldilocks of Credit Risk Analysis
My entire point of contention with banks previously was that they applied no credit controls when making loans. That they lent money too loosely.
Now that the housing market is collapsing they're gone completely overboard and gone to the other extreme. Anecdotally I hear of friends and family who never missed a mortgage payment in their life, getting turned down because they're "too much of a credit risk." Forget it if you're self-employed, you'll never get a loan or a refi. Even if you were a savvy younger fellow thinking now would be the time to buy some rental property, such a smart move is impossible because you are too young to get a loan.
Sadly banks are shooting themselves in the foot. First the people that the easing of credit was intended for by the fed are not getting that help they needed. Two, banks are passing up on good loans that would actually be paid back. Third, in not refinancing the people who deserve it, they further risk prolonging a recession.
The banks must learn to strike a Goldilocks balance of credit. Not too stringent, yet not too loose. Of course, you're asking for competence on the part of banking executives.
Now that the housing market is collapsing they're gone completely overboard and gone to the other extreme. Anecdotally I hear of friends and family who never missed a mortgage payment in their life, getting turned down because they're "too much of a credit risk." Forget it if you're self-employed, you'll never get a loan or a refi. Even if you were a savvy younger fellow thinking now would be the time to buy some rental property, such a smart move is impossible because you are too young to get a loan.
Sadly banks are shooting themselves in the foot. First the people that the easing of credit was intended for by the fed are not getting that help they needed. Two, banks are passing up on good loans that would actually be paid back. Third, in not refinancing the people who deserve it, they further risk prolonging a recession.
The banks must learn to strike a Goldilocks balance of credit. Not too stringent, yet not too loose. Of course, you're asking for competence on the part of banking executives.
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