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439 comments on DrumBeat: December 14, 2007
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439 comments on DrumBeat: December 14, 2007
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'An economic law of physics
By The Mogambo Guru'
http://www.atimes.com/atimes/Global_Economy/IL15Dj02.html
...snip...'So I am looking at this Big, Big Problem (BBP) and how it looks like the whole thing is going to degenerate into real work, when I was saved by a little-known law of physics: "If at any time you find yourself doing a transfinite amount of work, the answer can be obtained by inspection'...snip...
'And if you want more proof that people don't have any money, from online.wsj.com we get the headline, "Surge in Auto-Loan Delinquencies Is Latest Trouble for the Economy'
'An interesting bit of trivia is that "car delinquencies are closely linked to the health of the economy", because the "typical delinquent borrower" made a reasonable, good-faith estimate of the future economy, and buying the car "seemed like a manageable payment". It turns out the economy did NOT turn out as expected, and now the borrower can't make the payment. Bad, Bad News (BBN)'
'With a little history thrown in ("That is the biggest one-month jump in at least eight years"), I will take this interesting bit of automotive trivia to bring up the fact that if you have to choose between your house or your car, a car is more important than a house, as you can live in your car, but you cannot drive your house to someplace looking for a job, or to the street outside of your parents' house where you can park and look so miserable day after day that they finally get embarrassed and agree to let you into their house where you can gradually take over after stuffing them both in a nursing home against their will.
So you get another house to live in, and you still have a car to drive!' :)
For myself, it is the other way around. I could walk to work, shopping, etc. But I must have the house.