Antidote du Jour Posted on October 23, 2009 by Yves Smith Dear readers, sorry for my absence, I’ve been asked to turn around proof pages and have hours yet to go, eek. Post navigation ← Guest Post: Herding the Sheep Debt Stress in Middle Class America → Subscribe to Post Comments 14 comments Kevin Smith October 23, 2009 at 6:34 am Wow, that’s beautiful. Great way to start the day. Thanks! NS October 23, 2009 at 7:10 am Everyone appreciates your efforts including this lowly lurker occasional poster. Adore the picture. I live in the boonies and actually saw a Doe nursing a fawn under my apple tree, it had to be merely hours old. What a rare treat. OrganicGeorge October 23, 2009 at 8:35 am We understand you situation and know you want this project over more than anyone. Thanks for all you do for us. Richard Smith October 23, 2009 at 8:36 am Yves in the NYT today http://tinyurl.com/ygv7kjq Skippy October 23, 2009 at 5:58 pm I shake my paw at you Richard K, for not warning me of the preceding comment to Yves on the NYT see: Tyler Cowen is a professor of economics at George Mason University. His blog, Marginal Revolution, covers economic affairs. A lot of observers have the mental picture of corrupt C.E.O.s who drove their companies under and now collect millions at taxpayer expense. Some of that goes on, but a lot of the top earners at these companies are traders, legal and compliance executives, and managers of top clients. If investors think that bailed-out firms will be subject to rules driven by popular whim, those companies will languish. These earners did not cause the crisis and they are working hard to bring their companies back from the brink. …… First coffee of the morning and I spit it all over my 24 inch screen, thanks RK. Skippy…cudos on the NYT inclusion Yves. Skippy October 23, 2009 at 6:17 pm BTW Yves, one comment directed at your article received the highest number of recommendations, 70 compared to 46, out of 9 pages see: joe NY October 23rd, 2009 5:23 am Yves Smith’s post is really the only one worth reading, and he hits the nail on the head. Remember, in a just, truly free market world, the executives at Goldman, JPM, and Morgan Stanley, who were exempted from the pay restrictions, would have lost their jobs. Their companies FAILED. Only taxpayer trillions and the corruption of our elected officials prevented that. They should have been fired. Their companies broken up, losses born by senior bond holders, counter parties and shareholders, and the smaller, healthy remains sold back to private hands. Claw back of the bogus profits they skimmed off the top of their risk-transfer Ponzi schemes over the past five-plus years is what is truly just. Recommend Recommended by 70 Readers Skippy…well a journalistic sexy time kudos is in order.. hay. Richard Ksmith October 23, 2009 at 6:32 pm Sorry Skip! Hope your screen is OK. Skippy October 23, 2009 at 7:53 pm Amends Mr. Smith, I should wait till after the SNL John Belushi’s St. Patrick’s skit reaction abated before using now wet key board to comment. chad October 23, 2009 at 9:51 am i bet the fawn tastes good but a little gamey hehe MyLessThanPrimeBeef October 23, 2009 at 10:51 am Evidently, anthropologists have discovered the it started with one dear kissing another’s back while getting its back scratched, eventually evovling into chimps’ scratching each other’s back to getting rid of unwanted things. Today, that healthy habit still survives, in fact, thrives in Washington. I scrach you back and you scratch me – a win, win situation. Stephen V. October 23, 2009 at 11:46 am And here’s to our fave workaholic, Yves! Orca’s + Gentoo Penguin = happy ending? Everyone gets more than they bargained for. Watch: http://www.youtube.com/watch?v=SJaMtBKnN-I rd October 23, 2009 at 12:48 pm Your blog readers are all very understanding because we know you desparately want to avoid this: http://www.businessinsider.com/andrew-ross-sorkin-apologizes-to-larry-fink-for-blackrock-merrill-mix-up-2009-10 Tradermark October 23, 2009 at 4:09 pm CALPERS – too big to fail, and acting like it. Have a good weekend. http://www.fundmymutualfund.com/2009/10/calpers-california-pension-plan-too-big.html Vinny G. October 23, 2009 at 9:01 pm Wow! Nice picture. Also, a nice way to remind me that despite the suffering I see all around this lousy city, there is beauty and serenity in nature, despite the banking crisis… Today I had a friend move in with us because he has lost his job, followed by loss of his home, most of his belongings, and now is considering bankruptcy. A year ago he was earning a 6 digit figure as a computer engineer. He bought into the bull that IT jobs are the future. There simply aren’t any engineering jobs in this country anymore, despite the advertisements you may see, and despite the BS you hear on CNN that IT jobs are the future. What companies are doing is first advertise jobs here to cover their butts, do a few phony interviews, and unavoidably turn around and hire somebody on an H1B visa, or just ship the job to India altogether. A lot of qualified American citizens are shut out of the job market simply because they are US citizens. These mother-fu**ing American-based corporations (banks in particular) are screwing the American labor force in a way that makes feudalism look like unionized labor. Welcome to the New Economy. Gosh, I remember Greenspan back in 2000 or 2001 proclaiming “The New Economy”. What a joke! This buddy of mine is also very depressed as a result, and with this attitude he’s unlikely to be hired even if there were any jobs out there. If any of you here have looked at the articles I mentioned a few days ago in my response to George Washington, back in 2007 we were already by far the most depressed nation in the world. And that was when this phony credit-based economy was still flying high. Today, at the end of 2009, we must be the most depressed one in history, worse than France before their revolution. Anyway, I just recommended to this guy to just go back to his Greek island and forget the US for good. Things are going to stay bad here permanently. I understand that a lot of first generation immigrants are already going back to their countries, this after decades of living and working here, and hoping to make a good life here for their families. You know, at least these people, including myself, have that option. We can always return to our native lands, move back into our ancestral home, take the goats out to pasture every day, eat a lot of dairy products, and drown our sorrow in home-made Ouzo at the taverna down the street. But what about the poor African-Americans barely making it on the south side of Chicago, what about the Latino struggling to keep his or her kids form joining some gang in Los Angeles, what about the white guy who just lost his job at GM? Where are they going to go once the banks take away their home? Is there enough room on the Washington mall for all these people to pitch their tent? Anyway, sorry about the ramblings. Didn’t mean to spoil an otherwise beautiful photograph. Let me reach for that Ouzo bottle once again… :) Vinny G. PS — I don’t really drink, so don’t worry about me. :) Comments are closed. Tip Jar Please Donate or Subscribe!