Professor Elam

Robert Samuelson offers some perspective on recessions.   If the average recession lasts 10 months, well if we started last summer say August, we are about tne months in now.

Here is an interesting site, www.minyanville.com.  Definitely a different point of view, and clearly they subscribe to the socionomic perspective that I frequently discuss.

In Intermed II class Tuesday I wondered if the FED would have bailed out Mannie and I if we got in financial difficulty by excess specualtion.  Mannie doubted we would be resuced and I agreed. Here is an article pointing out the implications of the FED action. Apparently the FED balance sheet is about $900 B, why comit $200 B of that to one investment bank and not the major player at that?

Gee a few months back the whole country and Congress was upset that Dubai Ports might assume maangement of our Ports in the USA. No way responded Congress and talk show hosts. Gee, where is the revulsion over Mid East Money or Chinese Money coming to the rescue of CITI or Merrill or all the other firms in trouble. Apparently what works on Wall Street is not OK down the street at the Port Authority. Hmm, whose ox is being gored here?