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Priceless October 10, 2008

Posted by shubber in distracting PR, economy, public service announcement, Wasting Money.
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1. Ken Murphy - October 10, 2008

No Shit!

However, my take on this is that a lot of folks are selling what they can to raise cash to settle transactions, and they’re moving everything but the debt which they hope to sell to the government(s?) at well above its worth. The cost of marking that debt to market is something they just can’t afford right now. They fully comprehend the looting and paper profits that have been going on, and they’re hoping to offload the problem onto the taxpayers rather than deal with their travesties in the courts. The markets are trying to work through this (clearinghouses for derivatives, expensive short term paper to drive the sick companies taking imprudent bets out of the markets), but as usual the government is introducing perverse incentives that prevent the market finding its proper equilibrium.

If you’ve been keeping some cash handy, there are starting to be some really good deals in the equity markets. Expect some more seesawing as folks desperately seek cash, and machine trading grabs shares once certain price levels are crossed. Cashing out of retirement funds, on the other hand, is a blunderously stupid move. It’s indicative of an unsustainable lifestyle, just like maxing out credit cards. Good companies will survive and their shares will recover with time. If you were close to retirement you should have been mostly in bonds of utilities and blue chip companies anyways for the cash flows, and therefore should be unconcerned by the idiots playing in the equity markets.

Each and every value-creation industry in the U.S. needs to be supported and nurtured because that is what is going to get us through this. The Cynics may question whether space is one of those areas, but I am convinced that it is, and trying to contribute to its advancement in my own small way.

2. oldspacecadet - October 11, 2008

Why do you conclude that “Cynics may question whether space is one of those areas”? Speaking only for myself, I think commercial space offers the hope of a lot of economic growth and wealth creation. That is why I am so offended by unrealistic hype, excessive rhetoric, and general BS that seems to pervade Alt.Space and retard commercial space development. Even switching the descriptive term from Alt.space to NewSpace is part of the rhetoric by putting a new name on an old concept. Orwellianism, anyone?

3. Thomas Olson - October 11, 2008

Yes, John, in politics it’s the same as going from “Liberal” to “Progressive”, as the former term has been abused and shattered beyond repair.

4. Eric Haynes - October 14, 2008

That’s an instant classic cover. I love it! I just do.

EH


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