tag:blogger.com,1999:blog-32850048.post8802254978906993786..comments2024-03-18T02:14:50.959-07:00Comments on ADORED BY HORDES: MarcLordhttp://www.blogger.com/profile/17036432624426967890noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-32850048.post-33144703674980711502008-10-13T16:47:00.000-07:002008-10-13T16:47:00.000-07:00Economic Minister--mortgage relief is coming anywa...Economic Minister--<BR/><BR/>mortgage relief is coming anyway, just not as fast as it should have.MarcLordhttps://www.blogger.com/profile/17036432624426967890noreply@blogger.comtag:blogger.com,1999:blog-32850048.post-50167258122267463032008-10-13T16:45:00.000-07:002008-10-13T16:45:00.000-07:00vincent--the protections of tenants vary widely in...vincent--<BR/><BR/>the protections of tenants vary widely in the US, but are generally not all that great. My own stepfather once threw a family out of an apartment on Christmas Eve, their decorated tree and presents strewn onto a snowbank. As per self-corrections, everybody seems to try to stop them.<BR/><BR/>SLL--<BR/><BR/>Citibank will make poor masters indeed.MarcLordhttps://www.blogger.com/profile/17036432624426967890noreply@blogger.comtag:blogger.com,1999:blog-32850048.post-49748187168073484422008-10-13T08:12:00.000-07:002008-10-13T08:12:00.000-07:00Furthermore, the plan to delay your mortgage won't...Furthermore, the plan to delay your mortgage won't help. The financial system is collapsing anyway. <BR/><BR/>The best model for what we face is driving a car in Rome. Rome is the best place in the world to drive. If you are in a traffic circle buzzing along like bees in a swarm, you see the space, and you become the space. It opens up miraculously. In our dealings, we need to throw away the rearview mirror and "Let the force be with [us]." It is like Lot and his family. If you turn and look back, you will turn into salt (aka, the death zone).<BR/><BR/>This is kind of like an economic nutron bomb, where everyone and every physical thing will be alive after the blast, but what do we do. If we choose wrong, we will end up cannibalizing ourselves. So we do need to act like Luke Skywalker. We have to become Jedis, else we will be eating babies not turkeys come thanksgiving.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-32850048.post-10388339259795963862008-10-13T08:01:00.000-07:002008-10-13T08:01:00.000-07:00Vincent,You have some good thoughts. As far as th...Vincent,<BR/><BR/>You have some good thoughts. As far as the faith in the markets goes, it does operate on faith...until faith becomes a mantra. At that point faith goes away and "professionals rush in."<BR/><BR/>Faith inspires awe, but the awesomeness of our markets inspire fear. So something happenned between Adam Smith's pin manufacturing plant and Smith Barney's merger with Citigroup. We now have to go to Citigroup on bended knee and hope they deem us rightous enough to enter into a servitude contract. Instead of the citizens having faith in the markets, "the markets" now ask if they themsleves have faith us.<BR/><BR/>Something has gone way wrong. <BR/><BR/>BTW, I am a University of Chicago trained economic PhD flunky. Now I am an economic minister.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-32850048.post-33312157049858830232008-10-13T00:16:00.000-07:002008-10-13T00:16:00.000-07:00The point about sins is important. I'm no economis...The point about sins is important. I'm no economist but vaguely understand the faith that some have in the self-correcting mechanisms of the market. They are right but don't take into account the effect of "sin" (where gambling is rewarded more than steady useful production) whose self-correction can be very cruel indeed.<BR/><BR/>In the same way the planet's self-maintaining systems which work in concert as Gaia will look after themselves in the long term. But there is sin there too - again the self-correction will be cruel.<BR/><BR/>But it strikes me that this proposal to delay mortgage payments is a drastic sin in itself. Here in UK there has been a certain level of protection for tenants and mortgage-payers from foreclosure for many years - ever since the demon landlord Peter Rachman fifty years ago, and also a TV play called "Cathy Come Home" which alerted the public to the horrors of homelessness and the need always for welfare safety-nets.<BR/><BR/>I was going to point this out as comment to your post on Sheriff Tom Dart. There would be regular legal protection here, I suspect, and not just dependence on someone "being a Human Being".Vincenthttps://www.blogger.com/profile/18297306807695767580noreply@blogger.com