More news later today on my new/old book project, but for a moment let’s look at what’s happening in Greece, because I’ve become quite convinced that markets have gone completely mad and the world economy is about to suffer for that madness. In fact I am sure of it. That’s because stocks are up today on word of a second debt bailout for Greece — a bailout that has no more hope of standing than the one before it. Greece is bound to default, beginning a likely fall of economic dominoes across Europe. And while that news is not explicitly about technology, it will certainly affect all of us interested in technology, because Greece is […]
Today is the Labor Day holiday in the USA, so to honor the more vulnerable parts of our society and economy I’m engaging in this fantasy rethinking of our current economic crisis. If only……
“Where are the tumbrils?” asks my friend Adam Smith.If, like me, you have no idea what is a tumbril, it is a type of horse cart used during the French Revolution to transport condemned prisoners to the guillotine for beheading.What Adam wonders is how we can get so deep into such a hellacious financial crisis without finding at least a few bad guys to behead?
We’re seven weeks into the Obama Administration and still looking for a way out of both the banking and housing crises. TARP didn’t seem to work, at least not as its designers intended. The new housing plan hasn’t been well received and now that more details are out you’d think there would be an even more negative reaction, but the press doesn’t seem to have even noticed the details were released last week. 
