Saturday, October 11, 2008

Sadly HPC Blog does not make the shortlist

Top ten blogs to read during the banking crisis

DailyMash makes the shortlist and rightly so.

Posted by denzil @ 08:57 PM (651 views)
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5 thoughts on “Sadly HPC Blog does not make the shortlist

  • Not surprising, the title restricts the appeal – haven’t met anyone outside of this blog who wants to talk house price crashes.

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  • planning4acrash says:

    I take it then, that he didn’t like infowars’s advice, to buy gold, silver, guns, ammunition and storable foods?!

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  • Actually I’ve just read the first article in the Becker-Posner blog and it appears to be David-Smithesque blinkered sloppy arguments:

    “Moreover, taking an equity interest is also unnecessary in order to protect taxpayers from overpaying. Modern auction theory offers various ways to induce sellers (or buyers) of assets and other objects to “tell the truth”; that is, to bid their best estimate of an asset’s worth.”

    This is patent rubbish. He provides a practical argument why the government would gain from equity in banks, and says that “in theory” the government could lose.

    Hmm … practical gain vs. theoretical losses. I know which I’d choose. But the article writer puts this forward as being a good reason for government not to take equity in banks? Does anyone else see something wrong with this argument?

    “Even if the government were to lose money on this buyout, it is a bad precedent for it to take an equity interest in private companies. Inevitably, this leads to government involvement in business decisions and corporate governance.”

    Yes, well the banking system has obviously been doing such a good job of governance themselves, that no-one need interfere. Yeees. Not sure anyone goes along with that idea any more.

    Sorry but the Becker-Posner blog is a crock. They are bought and paid for stooges.

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  • By the way, Nobel prizewinning scientists are massively overrated. Once they win that prize they have bumped the top of their career and have a rather embarrassing tendency to consider themselves intellectually omnipotent – hence scientists like Linus Pauling who, after winning the Nobel Prize, lcaimed that large doses of vitamin C would cure everything from the common cold to cancer.

    He was, of course, quite wrong.

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  • Danny Finklestein.. what a tool!

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