Tag Archives: economic crisis

Top Ten Videos of 2009: 5. The Onion, “In The Know: Giant Money Hole”

Another reliable fake-news tonic for the real news during 2009 has been, of course, The Onion. In my opinion, The Onion’s video segments are a bit of a hit-or-miss proposition, but one subset of them cracks me up pretty consistently: … Continue reading

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Top Ten Videos of 2009: 8. “Learning is Fundamental”

What’s funny about the current economic crisis? At the root of it, nothing. I have spent most of 2009 as one of the who-knows-how-many millions struggling with unemployment and dwindling resources. One side effect of unemployment is that it gives … Continue reading

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A Poll of Monumental Importance

Just when you thought my blogging inconsistency couldn’t get any more shameful, here it is – my first post since September. As even a cursory glance will show, C&B has been mute during a period filled with events of historic significance: the spectacular collapse of American financial conglomerates, bringing the national (and hence, global) economy to the brink of utter ruin; the election of the first African-American President of the United States, who furthermore appears to be capable of getting America up off the mat; and the lamentable passage of Proposition 8 in California, inserting language into the state constitution to strip rights away from gay people… to name a few.

Therefore, what out of this abundance of profound current events is it that has finally dragged me back to the blogging pad? [... READ ON ...] Continue reading

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The Fed Gets in Bed with AIG

Another day, another eighty-five billion dollars. If you’ve had your back turned, or your earbuds in, or you’ve been transfixed by Sarah Palin’s boobs the last week or two you may not have noticed the Federal Reserve opening its checkbook. $85 billion for insurance behemoth AIG, $70 billion more to feed into the market so that credit won’t totally evaporate, and last week’s credit lines of up to $100 billion each to bail out mortgage guarantors Fannie Mae and Freddie Mac. Congratulations, fellow taxpayers – for the low, low price of $350 billion we are now the proud owners of three huge, insolvent companies.

If you’re wondering how this is a good investment, the answer is, it’s not. [...READ ON...] Continue reading

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