MIT World Video of a February 12, 2008 lecture given by Simon Johnson and Martin Feldstein on the current global economic crisis:
If economic analysis earned ratings like movies, this two-fer would receive an X for extremely disturbing. Two of the field’s most prominent voices spare any sugar coating in their unsettling accounts of the world’s unfolding economic crisis.
Seriously, this must mean the end is nigh.
The message in the picture below is from Fidelity Investments letting me know that one of the plans I invest in is changing its name.
“This notification is to inform you that effective January 16, 2009, Fidelity Select Utilities Growth Portfolio will be renamed Fidelity Select Utilities Portfolio.”
Its should come as no surprise to note that this fund hasn’t been doing a whole lot of growing in the past year.
When people say they don’t understand why the American Taxpayer has to bailout Wall St., tell them to look at thier retirement savings. Here’s mine:
That’s the amount I’ve lost since July 2008–less than three months!
Yeah, that’s -8.4% — just from YESTERDAY
Democratic criticism, conservative Republican opposition, quotes I’d rather not be reading right now.
“I understand speed is important, but I’m far more interested in whether or not we get this right.” — Sen. Chris Dodd, D-Conn.
“I believe if the credit markets are not functioning, that jobs will be lost, that our credit rate will rise, more houses will be foreclosed upon, GDP will contract, that the economy will just not be able to recover in a normal, healthy way.” — Federal Reserve Chairman Ben Bernanke
“Just because God created the world in seven days doesn’t mean we have to pass this bill in seven days,” said Rep. Joe Barton, R-Texas
“I am emphatically against it.” –Rep. Darrell Issa, R-Calif.
“You worry about taxpayers being on the hook?” he replied at one point. “Guess what — they’re already on the hook.” — U.S. Treasury Secretary Henry Paulson
“This massive bailout is not a solution. It is financial socialism and it’s un-American.” — Sen. Jim Bunning, R-Ky.
Quotes are from: “Bernanke: Recession certain without bailout“, By Julie Davis and Jeannine Aversa, The Associated Press (denverpost.com)
On my way to work I pass by a Fidelity Investments retail office. Signs promote their 401k rollover services and a nice lounge is outfitted with comfy couches, free coffee and a large flat-panel TV.
I usually glance at the TV as I walk by. Its always on CNBC and every now and then someting in the “crawl” catches my eye but mostly its just part of a familiar routine. It took me a while to notice but something had changed.
Since this past monday, the TV has been turned off.
Add to Porfolio?
Well, they do say buy low, sell high… I doub’t that was the intention here. (See the bottom of the image, the story is about the U.S. Government bailout of the morgatge companies Fannie Mae and Freddie Mac.
MIT Convergence Culture Consortium (C3)
“The Convergence Culture Consortium (C3) explores the ways the business landscape is changing in response to the growing integration of content and brands across media platforms and the increasingly prominent roles that consumers are playing in shaping the flow of media. C3 connects researchers and thinkers from MIT’s Comparative Media Studies program with companies looking to understand new strategies for doing business in a converging media environment.”
Well, that’s pretty interesting. Kind of Industrial Liaison Program meets the marketing department.
I came across the C3 site randomly, while following some link trail from my news reader. I wound up reading this post on Grant McCraken’s blog, figured out he was at MIT and followed the trail to C3. Along the way I probably added 3 new, good reads to my news reader.