Credit Crash Britain
Anyone watching the BBC series ?
Bonuses To Go Unchecked
Here‘s the logic ($20B for MS, ML, GS alone) :
“A lot of guys wouldn’t want to work this hard just for salaries,” he said. “You’d have a serious exodus from the business by a lot of really talented people — they’d become CFOs of companies, go to firms that didn’t participate in the TARP program, go to hedge funds, or start hedge funds.”
Recalculating Opportunity Cost
90% of what we do on a regular basis (functioning in the regular economy) used to be linked to reality, we would earn money that could be spent, used, and benefited by.
However, that reality changed when the unreal economy exploded into a 650 trillion different parts. We’re untethered from reality by operating in a system that, to some degree, was grounded in that clusterfuck.
It’s time to rethink opportunity cost. You aren’t giving up a chance to work in the economy if you’re at home instead, building a farm in your .75 acre backyard. You’re operating in the most basic level of the real economy – one that may be all we have left. Most of what you spend your time doing is akin to rearranging the deck chairs on the Titanic.
Datapoints You Should Pay Attention To
As they occur:
- John Robb, for the first time, scares me.
- Amazon reveals this:
Review: House of Saddam
Very well done, but I think they amy have zoomed in on Saddam and his family a bit too much, more context could have made it more fun.