This might be a bit of a tougher read than usual (specifically for links off my blog), but if you would like to be able to attempt to understand parts of why the economy is in the place it currently is, I urge you to spend some time reading the following article. One thing to note, it is mainly written as a rebuttal between two very predominate economists. One, Krugman, interjects a lot of politics into his economics, which requires him to periodically change his "economic" reasonings as time goes by. In my opinion, when trying to give a truthful economic explanation, politics should take a complete backseat.
Please Read: Many are the errors
Okay - now that you're done reading that, you need something heartwarming. I dare you to watch this without tearing up just a bit:
10.04.2010
8.23.2010
#Cars - Next Car?
Periodically I get asked the question, "Bryce, what is your next car going to be?" - I'll be honest, as much as I love the STI, I'm getting a bit run down by the noise and "20-something" attitude it seems to project. So, does that leave me to a quieter, but just as much of a "zoom-zoom" car (BMW, Audi, Merc)? Those options seem a bit "40-something".
Now, this might not be the exact car, but I have to think this is somewhere along the lines of where I'll be looking (and I can't think Anne will be too upset with a car commercial that starts with Christian Louboutins).
Now, this might not be the exact car, but I have to think this is somewhere along the lines of where I'll be looking (and I can't think Anne will be too upset with a car commercial that starts with Christian Louboutins).
8.18.2010
#Politics - Mortgage Market
A Government Role in the Mortgage Market?
by Jeffrey Miron on August 18th, 2010
Timothy F. Geithner, kicking off a half-day conference on housing finance, said Tuesday that it was important for the federal government to continue guaranteeing mortgage loans.
He said continued government support was important “to make sure that Americans can borrow at reasonable interest rates to buy a house even in a downturn.” The absence of such support, Mr. Geithner said, would make future recessions more severe because private lenders would not provide enough money for loans.
These are the kinds of remarks that make me want to tear my hair out: why should government intervene in mortgage markets in any way, shape, or form?
These interventions are just a backdoor way of redistributing income. But even if one believes in such redistribution, distorting mortgage markets, and generating all the moral hazard caused by this approach, is insane.
Some advocates of mortgage policies will claim that homeownership generates beneficial spillovers because property owners take pride in their property and neighborhoods, leading to greater value for everyone. Existing evidence is consistent with this view.
But this evidence does not show that subsidizing homeownerhip generates positive spillovers; in particular, pride in ownership plausibly attaches to houses that people have scrimped and saved for, and in which they have substantial equity; not to houses people know they cannot really afford and in which their equity is miniscule or zero.
So, advocates of redistribution should make their case honestly, not hidden in complicated and costly mortgage policies. The reason they do not, of course, is their fear that voters might reject these subsidies if the true magnitudes were obvious. That’s possible; but that’s democracy.
***
[Added by me] - Though this clip has been editorialize, black and white for impact and all democrats making "comments", I believe it could have been done with either party involved in our political climate these days.
by Jeffrey Miron on August 18th, 2010
Timothy F. Geithner, kicking off a half-day conference on housing finance, said Tuesday that it was important for the federal government to continue guaranteeing mortgage loans.
He said continued government support was important “to make sure that Americans can borrow at reasonable interest rates to buy a house even in a downturn.” The absence of such support, Mr. Geithner said, would make future recessions more severe because private lenders would not provide enough money for loans.
These are the kinds of remarks that make me want to tear my hair out: why should government intervene in mortgage markets in any way, shape, or form?
These interventions are just a backdoor way of redistributing income. But even if one believes in such redistribution, distorting mortgage markets, and generating all the moral hazard caused by this approach, is insane.
Some advocates of mortgage policies will claim that homeownership generates beneficial spillovers because property owners take pride in their property and neighborhoods, leading to greater value for everyone. Existing evidence is consistent with this view.
But this evidence does not show that subsidizing homeownerhip generates positive spillovers; in particular, pride in ownership plausibly attaches to houses that people have scrimped and saved for, and in which they have substantial equity; not to houses people know they cannot really afford and in which their equity is miniscule or zero.
So, advocates of redistribution should make their case honestly, not hidden in complicated and costly mortgage policies. The reason they do not, of course, is their fear that voters might reject these subsidies if the true magnitudes were obvious. That’s possible; but that’s democracy.
***
[Added by me] - Though this clip has been editorialize, black and white for impact and all democrats making "comments", I believe it could have been done with either party involved in our political climate these days.
8.13.2010
#Cars - Pikes Peak
The annual race at Pike's Peak is an event that usually doesn't hit my radar until it's too late to think about a road trip, but inevitably creates some spectacular racing footage for us armchair racers. For those that don't know, Pike's Peak International Hill Climb is a race that started in 1916 and is "only" 12 miles long.
In those 12 miles, there's over 150 turns and nearly 5,000 feet of elevation gain. This year there was another push to attempt to break the 10 minute mark (the race record is 10 minutes 1 second) by two teams; Suzuki and Hyundai. The Hyundai team ended up having a boatload of problems (it's their first year attempting this), and ended up way off the pace.
The Suzuki Team (as the current record holder) had a much better run at it - and luckily for us, they like to share. Now, it's not often you get to sit and watch a racer from start to finish, seeing what he sees. Even with Pike's Peak, most of the footage is edited for a little extra glamor. Not this year.
Here's 11 minutes of footage that will undoubtedly show you that you'll never have enough bravery to attempt something like this.
Bonus Coverage! Same race "course", but this time done in a rear wheel drive car. Extra bravery needed.
In those 12 miles, there's over 150 turns and nearly 5,000 feet of elevation gain. This year there was another push to attempt to break the 10 minute mark (the race record is 10 minutes 1 second) by two teams; Suzuki and Hyundai. The Hyundai team ended up having a boatload of problems (it's their first year attempting this), and ended up way off the pace.
The Suzuki Team (as the current record holder) had a much better run at it - and luckily for us, they like to share. Now, it's not often you get to sit and watch a racer from start to finish, seeing what he sees. Even with Pike's Peak, most of the footage is edited for a little extra glamor. Not this year.
Here's 11 minutes of footage that will undoubtedly show you that you'll never have enough bravery to attempt something like this.
Bonus Coverage! Same race "course", but this time done in a rear wheel drive car. Extra bravery needed.
8.06.2010
#Life - The Midway (San Diego)
Recent Anne and I were able to make a trip down to San Diego; well, she went for a work conference, I went as the "plus one". Before I left, I had heard that if I had time I should make my way over to the USS Midway, which now as a floating museum makes its home in San Diego.
When I arrived at the Midway, I initially balked at the $15 charge to just "walk around a boat". For a moment, I stood there and considered moving onto other options in San Diego, but seeing that I had a the whole day to myself, and I couldn't really come up with something better to do, I decided to pay. It might have been the best decision I made the whole trip.
I think one of the things that pushed me over the edge to check out the Midway was this emblem on the side of the ship:
Commissioned, September 20th 1945 and decommissioned April 11th, 1992; I was very intrigued by a ship that entered service just days after the end of WWII (September 2, 1945 for those that don't remember) and left service after Desert Storm.
Once I was on the ship it became very clear this was not going to be an hour trek around a boat. I put on the audio guided headphones and was informed as I marched off to "station #1" that there were 80+ different stops that I'd be making throughout my day on the USS Midway. One of my favorite aspects of the tour was that they start you in the lowest ranking parts of the boat and slowly move you "up the ranks". Amazing how different your life could be on the ship:
The lowest of the ranks:
A "touch" higher ranking:
As you moved through the ship, it was easy to take a moment and get caught up in the emotion of the situation. I found myself many of times just standing in a place and wondering how many very tough men came through here and what they were thinking and doing. One of the most juxtapositional rooms was the Chapel. In a place that is filled with so much metal and harshness, created for the pure purpose of killing, it seemed oddly out of place, but all together necessary.
Of course, there were plenty of pieces and places for humor - this one in particular jumped out at me. This plaque was in the Command Master Chief's quarters, someone that when the position was described on the audio tour sounded very much like the HR office of the boat (tried to keep an ear on the pulse of the crew, attempting to figure out what they needed to work at their top level).
I still find myself a bit perplexed how they managed to keep this boat, and its technology, relevant from 1945 until 1992. Many places you'd find buttons, levers, and switches that just seemed large and clunky. No more was this question of relevancy more apparent than in the communications room.
Finally, one of the rooms where, when you stopped and listened, you just couldn't help to be engrossed. The command room was in full "action" mode - lights a bit dimmed, the screens all illuminated. And in the background, there was the familiar reporting of the Desert Storm war. It was extremely powerful.
Anyways - the Midway was a great ship and a wonderful museum. I can say I enjoyed every second I spent on the boat. My only recommendation would be bringing a snack and a bottle of water, because you're going to get tired and you're not going to want to leave.
When I arrived at the Midway, I initially balked at the $15 charge to just "walk around a boat". For a moment, I stood there and considered moving onto other options in San Diego, but seeing that I had a the whole day to myself, and I couldn't really come up with something better to do, I decided to pay. It might have been the best decision I made the whole trip.
I think one of the things that pushed me over the edge to check out the Midway was this emblem on the side of the ship:
Commissioned, September 20th 1945 and decommissioned April 11th, 1992; I was very intrigued by a ship that entered service just days after the end of WWII (September 2, 1945 for those that don't remember) and left service after Desert Storm.
Once I was on the ship it became very clear this was not going to be an hour trek around a boat. I put on the audio guided headphones and was informed as I marched off to "station #1" that there were 80+ different stops that I'd be making throughout my day on the USS Midway. One of my favorite aspects of the tour was that they start you in the lowest ranking parts of the boat and slowly move you "up the ranks". Amazing how different your life could be on the ship:
The lowest of the ranks:
A "touch" higher ranking:
As you moved through the ship, it was easy to take a moment and get caught up in the emotion of the situation. I found myself many of times just standing in a place and wondering how many very tough men came through here and what they were thinking and doing. One of the most juxtapositional rooms was the Chapel. In a place that is filled with so much metal and harshness, created for the pure purpose of killing, it seemed oddly out of place, but all together necessary.
Of course, there were plenty of pieces and places for humor - this one in particular jumped out at me. This plaque was in the Command Master Chief's quarters, someone that when the position was described on the audio tour sounded very much like the HR office of the boat (tried to keep an ear on the pulse of the crew, attempting to figure out what they needed to work at their top level).
I still find myself a bit perplexed how they managed to keep this boat, and its technology, relevant from 1945 until 1992. Many places you'd find buttons, levers, and switches that just seemed large and clunky. No more was this question of relevancy more apparent than in the communications room.
Finally, one of the rooms where, when you stopped and listened, you just couldn't help to be engrossed. The command room was in full "action" mode - lights a bit dimmed, the screens all illuminated. And in the background, there was the familiar reporting of the Desert Storm war. It was extremely powerful.
Anyways - the Midway was a great ship and a wonderful museum. I can say I enjoyed every second I spent on the boat. My only recommendation would be bringing a snack and a bottle of water, because you're going to get tired and you're not going to want to leave.
7.27.2010
#Fitness - The Return of the Gut
At the beginning of 2008 I started a "Resolution Challenge", in which four people (Tow, Kristy Doug, and Myself) managed to all change our health and lives in a positive direction. It was pretty rewarding to see everyone do so well over the next 6-9 months. I personally started at 176.4 pounds and ended under 160. I was proud of myself.
Then I started my MBA. Now, after two years, I have finished my MBA and I am proud of myself again. Unfortunately the MBA did not come with some collateral damage as well - I managed to get fat too. On Monday I weighed in at 178.4. I'm now two years older and fatter (but smarter?) than ever.
Now, you all know me - so what do you think I am doing? Finding some mundane workout routine that will ease me back into things? Picking up some sports that I'll be "bad" at because of my shape, but shame me into working out more? (That's plausible, but no logical) Or starting a program that has kicked everyone's ass, and those I've talked to have yet to complete the whole program.
Oh you guessed it; it's the last one. I'm now an infomercial waiting to happen, P90X style. I'm two days in and my body *HATES* me, so I must be doing it right. As I stood in my living room at 5:15am this morning, jumping around the room like you can imagine a thirty year old white dude can do, I did question my sanity. Now with this blog, you can too.
If I was a true glutton for punishment I would share my MBA belly (as it affectionately is called) with everyone, but I'm showing a new level of restraint (lucky for you).
Then I started my MBA. Now, after two years, I have finished my MBA and I am proud of myself again. Unfortunately the MBA did not come with some collateral damage as well - I managed to get fat too. On Monday I weighed in at 178.4. I'm now two years older and fatter (but smarter?) than ever.
Now, you all know me - so what do you think I am doing? Finding some mundane workout routine that will ease me back into things? Picking up some sports that I'll be "bad" at because of my shape, but shame me into working out more? (That's plausible, but no logical) Or starting a program that has kicked everyone's ass, and those I've talked to have yet to complete the whole program.
Oh you guessed it; it's the last one. I'm now an infomercial waiting to happen, P90X style. I'm two days in and my body *HATES* me, so I must be doing it right. As I stood in my living room at 5:15am this morning, jumping around the room like you can imagine a thirty year old white dude can do, I did question my sanity. Now with this blog, you can too.
If I was a true glutton for punishment I would share my MBA belly (as it affectionately is called) with everyone, but I'm showing a new level of restraint (lucky for you).
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