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I now understand the financial crisis much better Back in September when the credit freeze was first becoming a matter of public discourse, I listened to a fantastic episode of This American Life that explained in layman's terms, what the crisis was about. This was followed up by a great FreshAir interview with NY Times financial reporter Gretchen Morgenson. Both highly recommended. After those two shows I thought I understood, but the other day I had a flash of insight that brought it home in a much more personal way. I'm lucky in many ways, one of those is that I have a good savings account that basically allowed me to retire at a very young age. Managing this nest egg is super important for me, it's what I live off. So in January I got the willies about the stock market and sold everything, moved it into cash. I did eventually start buying stocks again, slowly, but let's keep it simple and assume everything I own now is either in government bonds or the most conservative money market fund possible.
There you have it. I'm not lending money to anyone. Same with everyone else. That's exactly why the economy is stuck. You want to go first? I don't. That smiley is there just so you know that there's still something worth laughing at in this crazy mess we call an economy. BTW, what made me think of writing this up was an email I got from Citibank this morning offering unprecedented rates on a CD to which I said out loud "Fat chance buddy." A special BMUG meeting on Thurs
It's been a long time since the Berkeley group met (the Boston group still appears to be meeting), as far as I know, but on Thursday in Berkeley Raines Cohen, one of the BMUG founders, is hosting a revival of BMUG at the Hillside Club of course, to celebrate 25 years of the Macintosh. http://upcoming.yahoo.com/event/1516528/ We'll take "A look back, a peek at some Mac history movies, conversation and insights," says Raines. $20 suggested donation, net proceeds benefit Alameda County Computer Resource Center. 6-9PM with a Chinese dinner after. |
"The protoblogger." - NY Times.
"The father of modern-day content distribution." - PC World.
One of BusinessWeek's 25 Most Influential People on the Web. "Helped popularize blogging, podcasting and RSS." - Time.
"The father of blogging and RSS." - BBC.
"RSS was born in 1997 out of the confluence of Dave Winer's 'Really Simple Syndication' technology, used to push out blog updates, and Netscape's 'Rich Site Summary', which allowed users to create custom Netscape home pages with regularly updated data flows." - Tim O'Reilly.
My most recent trivia on Twitter. On This Day In: 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998. ![]() ![]() |
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