Weird Times

We are certainly in some weird times when I'm agreeing with (some) of JK Galbraith's editorial in today's Washington Post.

Now that all five big investment banks -- Bear Stearns, Merrill Lynch, Lehman Brothers, Goldman Sachs and Morgan Stanley -- have disappeared or morphed into regular banks, a question arises.

Is this bailout still necessary?

The point of the bailout is to buy assets that are illiquid but not worthless. But regular banks hold assets like that all the time. They're called "loans."

Stanley Cup

Well I could care less about the Red Wings winning the Cup, but further proof that hockey is the best sport in the world...When asked about how he felt about winning, Chris Osgood said, "When you get older you enjoy watching others win it so I was playing for Dallas Drake." Only in hockey do you have players trying to win entirely for each other. It is the most team oriented game in the world and players are generally humble and selfless unlike most other professional athletes. When the best player in the world, Alex Ovechkin, says he doesn't care about individual success, he's not lying. The best sport in the world, period.

New blog

So my friend Bogdan and I are starting a joint blog on economics...ideas we have, arguments we have etc. Should be a lot of fun. Check it out here.

Paradox?

The Tata Nano...world's cheapest car. Environmentalists object that it will strain already overcrowded roads...

An observation...these same people object to building more roads.