Jan. 15th, 2009

litch: (Default)
Next time you hear someone bitch about the billions of dollars that have gone into the financial bailout with nothing to show for it I offer you this refutation:

(details)


This is a graph of the TED spread and is a measure of how likely banks think other banks are about to go bust. What it is showing is that while still cautious they are generally confident the world is going to be there tomorrow.

The purpose of the bailout was to stop the financial system from collapsing, it worked.

But just because the financial system is still functioning doesn't mean the economy is working. That's going to take a lot more money.
litch: (Default)
Wow, I just saw a commercial advertising the hyundai assurance plan, where if you loose your income they will let give the car back and walk away even if you are upside down.

Do you realize how many people have to be afraid they are going to loose their job for a major car company to target an entire sales plan and spiffy advertising program?

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litch

May 2009

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