Comments on: Jim Grant on the Subprime Crisis http://www.nakedcapitalism.com/2007/08/jim-grant-on-subprime-crisis.html Sun, 22 Nov 2009 07:56:24 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Yves Smith http://www.nakedcapitalism.com/2007/08/jim-grant-on-subprime-crisis.html#comment-566 Yves Smith Mon, 27 Aug 2007 17:57:00 +0000 http://www.nakedcapitalism.com/2007/08/jim-grant-on-the-subprime-crisis/#comment-566 I have not had a chance to read it, but Dean Baker has an entire book along those lines, "The Conservative Nanny State." I have not had a chance to read it, but Dean Baker has an entire book along those lines, “The Conservative Nanny State.”

]]> By: a http://www.nakedcapitalism.com/2007/08/jim-grant-on-subprime-crisis.html#comment-562 a Mon, 27 Aug 2007 17:02:00 +0000 http://www.nakedcapitalism.com/2007/08/jim-grant-on-the-subprime-crisis/#comment-562 "Maybe he is seeing the light that capitalism without financial failure is not capitalism at all, but a kind of socialism for the rich."<br/><br/>Perfect. Of course the rich think they deserve their money, rather than being on the receiving end of government hand-outs. “Maybe he is seeing the light that capitalism without financial failure is not capitalism at all, but a kind of socialism for the rich.”

Perfect. Of course the rich think they deserve their money, rather than being on the receiving end of government hand-outs.

]]> By: James http://www.nakedcapitalism.com/2007/08/jim-grant-on-subprime-crisis.html#comment-554 James Mon, 27 Aug 2007 03:22:00 +0000 http://www.nakedcapitalism.com/2007/08/jim-grant-on-the-subprime-crisis/#comment-554 Excellent piece by Jimn Grant. I feel the winds of change beginning to blow. Excellent piece by Jimn Grant. I feel the winds of change beginning to blow.

]]> By: Yves Smith http://www.nakedcapitalism.com/2007/08/jim-grant-on-subprime-crisis.html#comment-551 Yves Smith Mon, 27 Aug 2007 01:03:00 +0000 http://www.nakedcapitalism.com/2007/08/jim-grant-on-the-subprime-crisis/#comment-551 I hate to say it, it's not kosher to lift copyrighted material in its entirety, so something had to go.... I hate to say it, it’s not kosher to lift copyrighted material in its entirety, so something had to go….

]]> By: bronson http://www.nakedcapitalism.com/2007/08/jim-grant-on-subprime-crisis.html#comment-550 bronson Mon, 27 Aug 2007 00:59:00 +0000 http://www.nakedcapitalism.com/2007/08/jim-grant-on-the-subprime-crisis/#comment-550 Great article. But why did you leave this paragraph out?<br/><br/>"Late in the 1880s, long before the institution of the Federal Reserve, Eastern savers and Western borrowers teamed up to inflate the value of cropland in the Great Plains. Gimmicky mortgages — pay interest and only interest for the first two years! — and loose talk of a new era in rainfall beguiled the borrowers. High yields on Western mortgages enticed the lenders. But the climate of Kansas and Nebraska reverted to parched, and the drought-stricken debtors trudged back East or to the West Coast in wagons emblazoned, “In God we trusted, in Kansas we busted.” To the creditors went the farms." Great article. But why did you leave this paragraph out?

“Late in the 1880s, long before the institution of the Federal Reserve, Eastern savers and Western borrowers teamed up to inflate the value of cropland in the Great Plains. Gimmicky mortgages — pay interest and only interest for the first two years! — and loose talk of a new era in rainfall beguiled the borrowers. High yields on Western mortgages enticed the lenders. But the climate of Kansas and Nebraska reverted to parched, and the drought-stricken debtors trudged back East or to the West Coast in wagons emblazoned, “In God we trusted, in Kansas we busted.” To the creditors went the farms.”

]]> By: Anonymous http://www.nakedcapitalism.com/2007/08/jim-grant-on-subprime-crisis.html#comment-548 Anonymous Sun, 26 Aug 2007 23:30:00 +0000 http://www.nakedcapitalism.com/2007/08/jim-grant-on-the-subprime-crisis/#comment-548 I thought this was interesting. <br/><br/><a HREF="http://english.martinvarsavsky.net/general/the-credit-crunch-explained.html" REL="nofollow">The Credit Crunch Explained pt1</a><br/><br/><a HREF="http://english.martinvarsavsky.net/general/the-credit-crunch-explained-part-2.html" REL="nofollow">The Credit Crunch Explained pt2</a> I thought this was interesting.

The Credit Crunch Explained pt1

The Credit Crunch Explained pt2

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