WHO IS TO BLAME?

TIME (2008) 3/31

34-35

WHO IS TO BLAME FOR THE UPCOMING RECESSION?

According to TIME, it is:

PRESIDENT GEORGE BUSH

A hardliner supply sider and market fundamentalist he believes that markets automatically correct themselves. Debts don’t matter.

ALAN GREENSPAN

He is the king of easy money. He let this slide into where we are now.

ANGILO MOZILO

He is the inventor or the best promoter of the ARM. This loan sucked in people who could not afford their house.

JAMES CAYNE

Head of Bears Stern he was the one that promoted funny money made out of CDO’s and other undervalued financial instruments.

FINANCIAL WIZARDS ON WALL STREET

They have created both economic models and bundles of funny money to create even more wealth. The rating agencies looked the other way and gave these entire bonus bucks a AAA RATING.

HOME BUYERS

The smart ones thought this was too good to be true and took the leap with suprime loans.

The rest didn’t understand, but bought any way. Most have lost out.

BUSINESSWEEK (2008) 3/31

60-63

Guess what computer both big and small heat up a lot of energy and send a lot of hot air into the environment. And so, Iceland is trying to get big computer companies to head for the little country of happy people, because in small villages or thereabouts these factories could stand the most heat. It is cold most of the year. Those factories by the way are called data centers.

74

There is a new concrete that clears the air.

76

Video games are now being made into movies.

93

Big Pharma is at it again. They are repackaging meds so that they take care of diseases that the drug companies invent. Further, they double the price and the advertising of a knock off from a competitor’s similar medication and make a ton more money.

28

The new Fed Chairman is flooding the market with dollars as suggested by Milton Friedman. Friedman creator of the Chicago school maintained that the Great Depression was caused by lack of liquidity. BUSINESS WEEK is ambivalent.