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Richard Sachs Cycles

Crash! (belated post)

As some of you know, I crashed hard a couple weeks ago (September 25, 2010), and broke my arm good … a clean break of the humerus at the surgical neck.

As near as I can tell, I hit a small sinkhole in the pavement … not a pothole, because the asphalt is still there, [...]

The Truth about Obamacare

As the mid-term elections season primaries pass, and the actual November elections approach, political rhetoric is flying fast and heavy … and it seems that the biggest itch getting people’s panties into a twist is the healthcare bill passed by Congress earlier this year, and signed into law by President Obama.

People are upset about [...]

A response

Lately, especially with the heated debate over the healthcare reform bill reaching a fever pitch, a lot of people have been tweeting things along the lines of “A Prayer for Obama. Psalms 109:8″. Psalms 109:8 states, “May his days be few; may another seize his position.”

What’s scary is the verse that immediately follows. Psalms [...]

Maria Bartiromo = Wing Nut

When CNBC’s Maria Bartiromo asks 44 year-old Democratic Representative Anthony Weiner (New York), “If Medicare is so good, why aren’t you on it?”, Rep. Weiner replies “Because I’m not 65.”

Maria’s response? “Yeah, c’mon …”

Nothing like letting a few facts stand in the way of reactionary right-wing rhetoric.

[...]

Okay, this move scares me …

… and I’ll bet that Art has something to say about it as well, and if not the A-Train, then perhaps the cats over at Mad Dog Media … Turkish?

Nothing like giving the guv’mint the right to say “Okay, you’re fucking up, so we’re gonna shut you down and sell you off …”

Tapping [...]

America’s crisis worse than Japan?

America’s crisis in a historical context | Worse than Japan? | The Economist

THERE is one consolation for the depressing instability of finance. History offers a rich array of banking crises from which policymakers can draw lessons—and against which today’s rescue plans can be judged. According to an IMF database, there have been 124 “systemic” [...]

I prefer pancetta to panaceas …

Looks like Paulson has taken at least one stance with which the A-Train shouldn’t have too many problems (if any), and while in many ways I disagree with the Train about how to fix the problem, in this particular situation I think we’re probably both on the same page.

Bloomberg.com: Paulson Warns TARP Isn’t ‘Panacea’ [...]

Text of EESA 2008

Finally, the text of the proposed Emergency Economic Stabilization Act of 2008 (Adobe PDF) has been released.

Summary as follows:

The $700 billion would be disbursed in stages, with $250 billion made available immediately for the Treasury’s use. Curbs will be placed on the compensation of executives at companies that sell mortgage assets to Treasury. [...]

Finally

Hopefully, when I wake up, there’ll be a published draft that those of us who are interested can read.

Congressional leaders reach tentative deal on bailout – CNN.com

WASHINGTON (AP) — Congressional leaders and the Bush administration have reached a tentative deal on a bailout of imperiled financial markets that could cost taxpayers hundreds of [...]

The best-laid plans …

Slept in a little bit, but still woke up relatively early this morning; around 7:30 am, planning on getting out for a bike ride this morning, then heading up to Heber for a post-Soldier Hollow shindig chez Mama T.

Didn’t happen.

I had a little bit of a headache when I woke up; figured it [...]