Of course, we've order thousands of red hat's, ties, and overcoats to outfit this new generation of socialists.

The American Economic hangover; the G of S grope for pain pills,...

What is this apparatus? Looks cool.

It is cool, it's very cool in fact; it's the latest renewable energy (non fossil fuel) hardware coming out of Germany. Vacuum tubes with copper inserts - also in a vacuum - filled with water and absorbing sunlight in order to heat things. Co generation technology. Not available at Home Depot - uh, huh.



Somewhere overseas, someone has a job at a clean room - fabricating and controlling very high tech manufacturing processes in order to export state of the art technology to a world in dire need of alternate energy resources. How did they do it?

They did with public/private investment stimulation. A government goading private concerns to take tax credits for research and development. Looks like they're ready for market.



Ok,. so what's this? This is a Department of Energy chart. If you recall, the Department of Energy was neutered by an un-named political party because it hadn't quote,.."discovered any oil or coal deposits.". The chart shows the cut off for tax incentives in alternate energy - pretty evident - you can see by 1986, the efforts at alternate energy were crushed.



That didn't happen in Germany and other northern European industrial nations; they don't have domestic oil wells and hedged when it came to reliance on foreign oil imports.



Here's Ronald Reagan shaking Milton Friedman's hand sometime before 1986. Ok,...enough,....pour me a double shot please.

"We know they're expensive but look at all the foreign students they're educating,...."

Poor Jack, we feel your pain....

Jack, I hear your cries of desperation. They are the same cries elicited by the industrial titans of the 1930's. Look out the Government is coming and it will choke off the deal making that investment banks need to keep the big engine churning. God forbid, they'll reinstate Glass-Steagal.

But Jack, isn't your panic a big knee jerk right now,..and isn't it a bit sophomoric when you point at the White house and Senate Finance committee chair (small potatoes) when you should be pointing at Beranke, Geitner, Volker, and Roemer, and the 75 or so other economist graduates of Goldman who advise and advise and advise - in a Larry Summer's kind of way. I mean you know finance, right? You traded off old manufacturing models and built GE capital. You know the difference between nice fat highly leveraged loan structures vs. those boring straight line loan structures. I mean, you know those Main Street small business loans aren't worth putting on the books.

Jack, brother, adjust your sights please, you have no reason to complain. The GE house of cards fell (50% decline in share price) and lucky for you - you found yourself with a new career in the magazines; count em, Vanity Fair, Vogue, the New Yorker, Fortune, Time, and other publications that adored the buzz you made with the trophy...ah the new wife.

Jack, where are the turbines? Too little, too late? And God knows, we can't pay American wages to manufacture them. Yes, Jack, I think we have some structural issues on hand, but let's see what we can do to preserve those glory days when money was so cheap; stock prices got inflated, services and salaries and CEO benefits got conflated, inflated, and saturated with G of S signatory aggrandizement.

Jack, have your scream at the world but there is always the free flat on Park Avenue and the house in Nantucket to get some needed rest. Not to worry, I think we'll be buying wind turbines in China pretty soon, and maybe light bulbs and electric turbines, and jet engines as well.

It's a long walk out of this crisis Jack. From Volker to Greenspan, we've ginned up an economic system that marginalized the fundamentals - year after year - market froth after market froth. Question? What should we do Jack? Should we build things or should we just shove services at each other? You know and I know the Banks don't see the profits in manufacturing; the Banks - like GE Capital - followed the hedge funds and the casino model.

Come clean Jack; Geitner and Beranke are taking a hard look at the banks because they chased the high finance and couldn't police themselves.

More powerful then a Hilary Clinton, able to leap pedantic questioning from a vapid Congressional committee, look up in the economic summits,...its a

historian, a tenured Professor, it's an Economist!

Thanks for all your hard work Christine. I'm sure your watching the "new" new deal with eyes wide open.

Brad, your country needs you,....Letterman, Leno and then Stewart and Colbert and then the biggest comedy show,..."Meet the Press".

Eight tenacles and counting. How do you do it, oh master of the Econ universe (and more)?

Former Reagan Fed chairman speaks but does anyone listen? We report, you decide.

Steve Colbert and John Stewart meet H.L Mencken's modern protege,...Mr. Frank Rich. Hilarious Frank, keep it coming.

Somehow I think Charles Manson and Gore Vidal are also entwined with this,.....conflicts and contrasts,...

Where's Alan in all this market philosophical soup?

I imagine that Frank O'Connor had to have some very terrifying private moments. Frank, you get an engraved barstool from the BSJE bistro.

Option trader discovers the Kondrietiff wave theory. "Gee, ya think this phase of Capitalism is over?"

I have several hundred shares in linotype futures,...lots of print newspaper stocks,...a bunch of Lehman shares,...oh, did I say Enron? I got some of those,....should I do my walls with the certificate paper? I wonder if the glue will hold?

Looks like DARPA tipped their hand toward the next generation investment funding.

Gee, just like it supposed to be - invest in new technologies and see if there's any market traction? Goddamn government.

Elite liberal highly educated economist telling us the truth again.....damn!

"Daddy, is Mr. Krugman's editorial title 'tautological'?

Brad Dulong, your country needs you now!

You have to read this one; this will make you shudder. It's been a relatively quiet summer despite the wingnut ministrations. But looks like the New Yorker hasn't given up on micro analysis and the irony of history. It's journalism bent and skewed and great reading. You still have to walk in Larry's shoes and call the plays - be they good or bad.

"Hello,...is this Atlas?,.....yes, yes,...no,...this is Alan Greenspan calling,......"

"Yes, ahh, Atlas,.. I wanted to know if you could help assuage the American public of some of their angst,..."

"Did I say froth,..no I said assauge the angst,,....!"

Economic scholar emerges from moon river.

The scholarship, the research and those publications; Brad Dulong step aside; this septugenarian not only sings; he's got his hands on the dark science; the science of the beast.

Andy, there is a stool ( a real barstool- not the other kind) waiting for you at the BSJE lounge; take your seat and file to the right of this column and take your chair among the legacy economic scholars.

You're on the money with comments pal. The goddamn nation is going marxist and latter day crooner's like yourself need to garner revolt. Get the goddamn government off our libertarian backs!

What about medicare? Can we dump that god awful government program first?



Suck it up granny,...just hum moon river.

Sell some puts on GE, buy 10K worth of natural gas futures, take a break,..a time out, what was this Minsky guy thinking,....

Malthus shrugged

Please note the stampede tragedy on the same page.

Atlas shrugged

Swine flu epidemic sweeping the nation

NPR and BBC are picking up the memory of the 08 meltdown.

Note the DJIA and the FTSE clinging to each other. Someone in Kent is holding mortgage notes from someone in Ohio. Cool.

The legacy media's version of breaking news: (empire fail).

Paul Krugman is toggling the Babylon moment.

Message for Main Street,...but is it listening????

Can't refuse Glenn Greenwald's commentary on media hypocrisy.

They watched their Rome burn. More details on the widespread perpetuation of the mediocrity. A culture that cannot challenge itself is doomed to fail. Surprised? Not at all; this is the G of S generation; the generation that will join hands with other failed generations.

The Oswald Spengler award goes to which scion of the privileged celebrity class?

Aw shucks, the WSJ didn't bring up Joe Schumpeter.

Well, hey, what did you expect, it's the WSJ - the Murdock WSJ - as in -" we don't wander into unconventional theoretical examinations. "

The BSJE thinks Joe Schumpeter's time has come. Hell, look at Murdock's print media failing; isn't this the transformational change vested in a new technologies pushing the old economic models aside?

There is no sound byte answer to the Joe Schumpeter inquiry we politely posted on digg (a few posts back). It's a long story and a real saga - as they say. The WSJ lobbed a few curves at Tim; we thought Tim pitched a pretty good inning; but no one unraveled Main Streets issues and the fire down below.

What would you expect from the WSJ anyway? They missed the crisis in 29 and they missed the crisis in 07; they spend a lot of time in denial.

Order up, please. We refer you to Krugman's article on American political zombies; - google the NYT for an insightful analysis on contemporary history.

Can you spot the criminal? Contrasting Jaffe with Thorstein for kicks.

One guy says he did nothing wrong; and the other guy spent hours agonizing over the disparities of wealth distribution in America.

Maybe the next millennium will bring some relief from these income annoyances in the empire's belly?

Who do you blame, the school system?,,..the media? How do people in America become so stupid?

Centered is the BSJE journalist.