Easy Claim

I live on Easy Street so it is easy to make a claim (to CNBC) that I have a model that can price these “toxic” loans within 15 minutes.

Please, review the last part of that statement in light of price fixing, or price regulation. Ask yourself the place, or better, meaning, of “market” when the price is set by a “model.”

$80 Collapse

Continuous lines are made from small points. This is a trivial dollar amount, so may seem to make a small point, small enough to overlook, but nevertheless I point it out. A yard worker this morning was talking to me about the collapse, he told me he had gone to the bank to close his account. He took out eighty dollars and was worried about where to keep it. He wanted to know if he could keep it in a tin in the yard shed.

My garden shed seemed safer than a bank. Why? Because he thinks the bank will not look out for him, the government won’t help. He hears this on TV, at coffee shops. His caution should be your warning. I have only a small shed so don’t ask if you can store your money here.