tag:blogger.com,1999:blog-1207581886255094115.post3265247332741003598..comments2024-02-26T05:51:17.859-05:00Comments on Economic Disconnect: Something to Think AboutEconomicDisconnecthttp://www.blogger.com/profile/02802078645713106743noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-1207581886255094115.post-85564150096467202912009-11-29T17:20:26.145-05:002009-11-29T17:20:26.145-05:00Watchtower,
yeah, cats really get me too.Watchtower,<br />yeah, cats really get me too.EconomicDisconnecthttps://www.blogger.com/profile/02802078645713106743noreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-68149303729556168992009-11-29T17:10:37.970-05:002009-11-29T17:10:37.970-05:00GYSC
I emailed the Dubai part of your post to my b...GYSC<br />I emailed the Dubai part of your post to my brother today, he said they were discussing this in sunday school this morning and I thought he might enjoy your take on it.<br /><br />The black LOL cat reminds me of my daughter's cat that she had a couple of years ago.<br />It was hit by a car and killed, I still remember my daughter sitting in my lap trying not to cry but eventually giving in.<br />We still miss that cat.watchtowernoreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-63581713784349438902009-11-28T09:16:47.792-05:002009-11-28T09:16:47.792-05:00"Everyone everywhere now firmly believes that...<i>"Everyone everywhere now firmly believes that there will not be any shock to the system that a government will not bailout."</i><br /><br />Even worse, it is entirely possible that the Dubai debacle is a case of "ruthless default". It's not like anybody is going to march into Dubai and repo a building. In any case, I am seeing a lot more anecdotes about commercial debtors ceasing payments because they expect a favorable workout once the government becomes the receiver.1https://www.blogger.com/profile/07873350421866525173noreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-27020832900189873642009-11-27T23:39:14.712-05:002009-11-27T23:39:14.712-05:00Gawains,
eloquent as ever, thanks for stopping in....Gawains,<br />eloquent as ever, thanks for stopping in.EconomicDisconnecthttps://www.blogger.com/profile/02802078645713106743noreply@blogger.comtag:blogger.com,1999:blog-1207581886255094115.post-56579127896425197522009-11-27T20:54:02.460-05:002009-11-27T20:54:02.460-05:00If you read Landry's Boys by Peter Golenbock, ...If you read Landry's Boys by Peter Golenbock, the best book on the Dallas Cowboys in print, at the end it tells the story of the demise of Clint Murchinson, Jr. Heir to an oil fortune, he transformed the league when he formed the Cowboys (actually they were first named the Steers, then the Rangers, which is why they have stars on their helmets, those were to represent their badges, before the final name change at the last minute) and insisted on them playing in the then Capital division. And the rest as they say is history.<br /><br />Murchinson wanted his team to play in the East, because that's where the New York Football Giants played, in the media capital of the world, and he wanted maximum exposure. Tex Schramm designed the uniforms so that they looked best on television. Tom Landry fundamentally changed the game with his revolutionary innovations. And the Dallas Cowboys captured the imagination of America, rising to become the most popular franchise in all of sports.<br /><br />Meanwhile, Murchinson was slowly wasting his fortune. First on booze, then Cheerleaders, then cocaine, then stock speculation, and finally wild real estate deals. He actually invested a considerable amount of money in a ski resort in Iraq, of all places, if you can believe it. And it all came crashing down. He lost everything and went flat broke. This is why he was forced to sell his beloved team to Bum Bright--he had to to pay off his debts.<br /><br />From a billionaire to destitute in a little over 25 years. That's the way it's supposed to be, when you waste money and make bad investments. No bailout for you!<br /><br />I bring this up because you reminded me of the story when you mentioned investing in a water park in the middle of the Shara Desert, GYC. I had to laugh. Greater men have blown greater fortunes on idiotic ventures before. And will again. Or maybe not.<br /><br />You're exactly right, apparently moral hazard is a thing of the past. Everyone everywhere is making wild bets with other people's money, because they believe that if it all goes wrong the government will cover the losses. It is a dangerous mindset, one that is clearly unsustainable. The taxpayers of the world cannot afford to keep fronting the money for rampant corruption, waste and fraud. This will not end well.<br /><br />Speaking of taxes, you know I got a bill from the IRS the other day for $7.34. Are you kidding me? I just sent you guys over $13,000 in April, and you wait until November to tell me I owe you a lousy couple of dollars?<br /><br />I called my accountant, whom I paid $450 to prepare my taxes, because he had told me I had a refund coming and I had told him to apply it to next year's taxes. What is up with this? He didn't have an answer.<br /><br />$7.34. Good grief.GawainsGhosthttps://www.blogger.com/profile/16719480047404817864noreply@blogger.com