Slog - Comments on Why It's All Going to be Ok http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok Copyright 2008 Wed, 17 Sep 2008 14:57:22 -0800 Thu, 18 Sep 2008 08:45:24 -0800 http://www.movabletype.org/?v=3.34 http://blogs.law.harvard.edu/tech/rss Comment by Gitai I do have to say, the number of people with inherited wealth who are getting fucked is pretty awesome.

]]> Gitai http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144460 http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144460 Money Wed, 17 Sep 2008 15:08:16 -0800 Comment by Greg We'll be fine, UNLESS the fat cats get us to pick up the tab for all the money they gambled away. How likely do you think that is? We're already doing it.

]]> Greg http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144462 http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144462 Money Wed, 17 Sep 2008 15:08:41 -0800 Comment by Julie in Chicago Thank you Jonathan. I feel a little better. Sort of.

What's that? The Dow is down 449 points today? Erp... Slightly positive feelings evaporating...

]]> Julie in Chicago http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144463 http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144463 Money Wed, 17 Sep 2008 15:09:16 -0800 Comment by Jonathan Golob Julie:

Irrational exuberance. Irrational.

Get on it.

]]> Jonathan Golob http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144469 http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144469 Money Wed, 17 Sep 2008 15:15:19 -0800 Comment by CA Gold had its largest single day gain today, and oil closed up 6 bucks. So much for the commodity bubble bust.

]]> CA http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144473 http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144473 Money Wed, 17 Sep 2008 15:17:32 -0800 Comment by Hernandez Thanks for that irrationally exhuberant warming of my cockles, sir.

]]> Hernandez http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144475 http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144475 Money Wed, 17 Sep 2008 15:20:26 -0800 Comment by max solomon heard a rumor that wells fargo is going to buy WaMu.

]]> max solomon http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144482 http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144482 Money Wed, 17 Sep 2008 15:26:27 -0800 Comment by GK
Wow you are so wrong about oil. Oil is going up, up, and away. The latest drop in oil prices was due to dollar strengthening.
Deflationary arguments aside (they're bogus), we'll see $130 oil again by Christmas.

]]> GK http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144491 http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144491 Money Wed, 17 Sep 2008 15:32:38 -0800 Comment by jrrrl ok... i'm officially never paying attention to any sentence with the word "economy" in it ever again. i'm not a richwhiteman so it doesn't affect me in the slightest.

other sentences that are dead to me include the words:
commodity
wealth
"the dow"
bubble
funds
financial
bailout
savings
loan
"past due"

]]> jrrrl http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144492 http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144492 Money Wed, 17 Sep 2008 15:33:45 -0800 Comment by Julie in Chicago @4. I'm trying! Umm... The government can just print more money to get us out of this situation!! The Bush administration loves the American people and is looking out for our best interests! If I lose my job, I can always become a real estate agent or an alpaca farmer!!!

Hmm. That certainly was irrational exuberance, but I'm not sure I feel better.

]]> Julie in Chicago http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144495 http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144495 Money Wed, 17 Sep 2008 15:36:14 -0800 Comment by stealingzen This would sound really convincing if the government was only bailing out the customers and not the mis-managing/greedy corporate higher-ups of these institutions, but you can be assured that is not the case. We are still losing our money, just in round about way (i.e. Our taxes are going to our bank accounts and to the bailout that shouldn't be necessary instead instead of other important public services).

I'm leaving for Italy in a week for vacation; I wonder if I'll bother coming back.

]]> stealingzen http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144501 http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144501 Money Wed, 17 Sep 2008 15:39:23 -0800 Comment by GK @9

It's interesting that you're not interested in the economy. I'm not a rich white man either (but I am white) and I'm terribly interested in the economy.

If you work, the economy effects you. Even if you own nothing, the economy effects you.

Wake up and gain some understanding. Then the "RWF" won't be stealing from you everyday like they do now. Knowledge is power.


]]> GK http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144507 http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144507 Money Wed, 17 Sep 2008 15:44:49 -0800 Comment by COMTE @11:

If you don't come back, can I have your house?

@8:

You aren't by any chance one of those folks who a few months ago predicted oil futures would reach $200 a barrel, are you?

]]> COMTE http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144510 http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144510 Money Wed, 17 Sep 2008 15:47:00 -0800 Comment by Bellevue Ave Golob, you're getting more unhinged by the post.

]]> Bellevue Ave http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144519 http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144519 Money Wed, 17 Sep 2008 15:52:29 -0800 Comment by NapoleonXIV 'Tis a gift to be simple, Golob.

]]> NapoleonXIV http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144520 http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144520 Money Wed, 17 Sep 2008 15:53:53 -0800 Comment by poo poo What about people who have been saving for retirement, or people who are relying on a pension fund? It's not only people like that guy on Monopoly money who are exposed to financial markets.

]]> poo poo http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144521 http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144521 Money Wed, 17 Sep 2008 15:55:35 -0800 Comment by stealingzen 13 - You can sub-let my apartment. :P

WaMu's new CEO just got $20 million to take the position. Do you think that he'll have to give that money back? No. It's our money (from deposits and the like) that just went into his pocket; he'll pay a couple million in taxes on it, but that's just another money hole that the taxpayers are going to fill in with a bailout. He's stealing $20 million from the taxpayers essentially. And he's not the only one.

]]> stealingzen http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144532 http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144532 Money Wed, 17 Sep 2008 16:04:04 -0800 Comment by Mrs. Jarvie Hello Jonathan, thank you for another great post. I want to make sure you know about

http://thearchdruidreport.blogspot.com/

which offers a refreshingly clear and practical view of life at the end of the cheap-oil-age.

Re: your metaphor "We’re so far down on the wealth chain, that our meager earnings barely dent the vast sloshing of wealth battering the top."

dent the sloshing? batter the chain? hmmmm, maybe try

"We're so far down on the wealth chain, that our meager earnings barely scratch the paint job of the global economy."

cheers

]]> Mrs. Jarvie http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144539 http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144539 Money Wed, 17 Sep 2008 16:12:07 -0800 Comment by banjoboy I'm thinking doom and gloom is probably helpful to Barry O, so please save your happy ending posts till after the election! Kthxbai.

]]> banjoboy http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144544 http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144544 Money Wed, 17 Sep 2008 16:15:53 -0800 Comment by Jeremy WAMU would be fine if they had not fucked up and made their slogan "WHOO-HOO" instead of "WOO-HOO" or even better "w00t!"

Dumbasses.

]]> Jeremy http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144579 http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144579 Money Wed, 17 Sep 2008 16:43:34 -0800 Comment by John Bailo So what you're saying is the for the vast majority of people, life is good and getting better financially.

So it's the economy, dim bulb, then probably no need to "change"...

]]> John Bailo http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144587 http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144587 Money Wed, 17 Sep 2008 16:48:59 -0800 Comment by Sean Hurley @21: Irony or not, what you're saying is that this shipwreck is a superb opportunity for a brisk swim, which will undoubtedly leave us healthier once we reach the shore, which you can just... well, you can almost see it right over that way...

]]> Sean Hurley http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144608 http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144608 Money Wed, 17 Sep 2008 17:09:47 -0800 Comment by PopTart @15 Your wit always puts a smile on my face.

]]> PopTart http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144616 http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144616 Money Wed, 17 Sep 2008 17:14:49 -0800 Comment by Cornichon Makes you want to shout at CNBC: It's not the ("fundamentally sound") economy, stupid! It's the fundamentally corrupt financial system.

]]> Cornichon http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144678 http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144678 Money Wed, 17 Sep 2008 18:42:09 -0800 Comment by Bellevue Ave @24

Seriously, you wanna roll with me to burn down the CNBC studios? What a bunch of hopeless pumpers.

]]> Bellevue Ave http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144707 http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144707 Money Wed, 17 Sep 2008 20:02:54 -0800 Comment by Jeff When the stock market crashed in 1929, it was only stock brokers jumping out of windows at first. Of course, eventually the Great Depression hit even the common man with thousands of bank failures (no FDIC back in those days) and 25%+ unemployment rates. Even in bad times, the wealthy usually come out on top.

]]> Jeff http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144782 http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144782 Money Wed, 17 Sep 2008 23:20:29 -0800 Comment by herbert browne I guess what I wonder is what have the thousands of the "chosen"- the broker dudes/dudettes- been thinking about for the last few years? Do they talk at lunch? Do they all have houseboats on a river in bumfuck egypt? AREN'T THEY ALL KINDA SMART? Does money really derange people that much? Do I want to know? really? hmmm... ^..^

]]> herbert browne http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144791 http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144791 Money Wed, 17 Sep 2008 23:57:08 -0800 Comment by Hillary Lewis May I suggest to everyone that while the economy is fundamental to the lives of all Americans, day-to-day and long-term, we have an election coming up where we need to hold the candidates accountable for ALL of the policies and rhetoric they have produced in the weeks leading up to November 4? Immigration, education, foreign relations, and health policy are all extraordinarily important areas we should be looking at. While I appreciate Jonathan’s *heartening* take on news from the financial front, I also want answers to my questions about what the candidates propose to do to strengthen our position in the global health and research arena, for example. Bringing more research to the US can only help our global financial position and our economy. I notice that out of the slew of hopefuls for US Congress, only two Washington candidates have filled out the questionnaire at http://www.yourcandidatesyourhealth.org/ and gotten on the record about where they stand on these issues. Do you know what your candidate’s plans are for addressing the financial problems facing us today? It is useful to dialogue amongst ourselves about the issues, but in the end, we must decide who is best suited to represent our wishes in Congress and as President, and time is running short for making those informed choices! We cannot trust that only the very richest will suffer from the financial tumble, we should make sure that our elected officials have OUR best interests in mind in 2009.

]]> Hillary Lewis http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144868 http://slog.thestranger.com/2008/09/why_its_all_going_to_be_ok#c1144868 Money Thu, 18 Sep 2008 08:45:24 -0800