Tuesday, March 10, 2009

Ye Olde Tyme Catch Up Shorters

foreplay is the Devil's work.

Why not nationalization?:

Because we'd have to change a couple laws, and expand a regulatory agency. Also, the rest of the world is doing just fine, economically, and wants the market to stay FREE. (Cue speech from Braveheart.)

Payrolls fall:

Here's how unprofessional Megan is;

The New York Times story reports:
Some economists expect that the nation's businesses could cut another two million jobs and that unemployment could reach 9 to 10 percent by the time a recovery begins.
Some economists? I haven't talked to a single one who estimates unemployment peaking below 9%. Unemployment is a lagging indicator--it will keep falling after output has bottomed out. And output is not yet ready to bottom out, for all of our public officials slapping happy face stickers over all their official reports. The other day I was talking to another economics journalist at a lunch, and in re: Ben Bernanke's stated public opinion, asked whether he'd met anyone who actually believed that growth would recover in the second half of the year.
"No," quoth he, then added "and neither does Bernanke."
By which he claimed no special knowledge...
Yes, I know, she wrote "quoth".
But the point is Megan doesn't even realize she's doing more to display the lack of variety in her... "sources" than providing any kind of useful critique. If every economist you talk to is saying basically the same thing, you need to find their critics and get the other side. Megan seems to think the occasional antagonistic glance towards Krugman suffices for balance, or that Matty Y isn't... let's say business friendly in a Clintonian manner and actually disagrees with her.

Should Geithner go?:

Megan is so fair and balanced. Geithner has been on the job since January 27th, which is to say about six weeks, and he hasn't fixed everything yet. Fuck him. And sure, he basically doesn't have a staff to work with, mainly because of Republican obstructionism, but that's totally his Obama's fault.
The inability to get anyone confirmed has to be laid at the feet not of Geithner, but of Obama. We're in the biggest financial crisis in living memory, and the administration has so far failed to staff treasury because it is unwilling to take any political risk that a nominee will have a tax or a nanny problem.
And the Republicans are blameless for showing they'll try to hold up any and all confirmations in a critical department on the basis of comparatively trivial nanny or tax issues. Bullies only pick on the weak, so nerds like Obama really are hitting themselves, if you think about it.

Moral bankruptcy:

Here Megan conclusively demonstrates she has no real moral values, hence the title. She tries to equivocate buying a cheap grill with owning a home with a bad mortgage, because she's a huge asshole who's quite intentionally horribly intellectually dishonest in order to soothe her should be tortured conscience, and her master's. Even Megan knows there's essentially no validity to her comparison, but writing it out made her feel better, and that's the point.

Ask the editors: What happens if Citigroup fails?:

She never did fix that link. Megan is such a good editor.
I can't actually shorterize this, as it's too incoherent.

Bank of America unhires foreign MBAs:

Here Megan shows concern for the immigrants to the US who won't be able to get jobs in corporations that are exploiting their former countrymen. And, btw, it says nothing, whatsoever, about what's being taught to MBAs that even Megan expects the degrees to be worthless outside the American corporate business context.

... never mind a shorter, the next post on deck needs individual attention. And so it shall have it.


clever pseudonym said...

"I haven't talked to a single one who estimates unemployment peaking below 9%."

Megan hasn't talked to a single economist who believes otherwise, so they must not exist. Anywhere.

Anonymous said...

She really thinks she's the center of the universe, doesn't she? Since Megan hasn't spoken to such an economist, then none exist. But Megan, you fucking idiot, consensus estimates for unemployment--meaning you take all the economists polled and average their predictions--is about 8 1/2% for 2009. How the fuck do you explain that?