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Showing posts from February, 2010

The Greek tragedy

In many ways the greek tragedy is a play about modern monetarism theory or MMT and its relation to politics.

For those that don't have the time or inclination to follow the details, it appears the pied piper has finally caught up with the hellenians.

A debt crisis threatens the ability of Greece to raise cash and sell its EU bonds. Some cry foul, calling it mounted attacks by hedge-funds, other see a proverbial justice in having socialist countries pay for their profligal sins. Deficits don't matter?

So when the rubber meets the road, the EU politically backs the debt of its participants fearing a debt contagion to the rest of the member countries. But in practice no nation wants to fund the greek bill. Germany knows re-unification and the prospect of paying through the nose for socialists in the south that are not even grateful is un-appealing. In holland they have passed a bill that they would provide no help.

And here the reality of the Euro hits home. It is a monetary a…

Mad About "Mad Men"

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My new television show passion is Mad Men—am about ½ way through Season 3. Although, the pacing has its occasional doldrums, watching this show is a guilty pleasure. Part of the show’s entertainment is the situational irony highlighting all the differences between “then” (late 50s early 60s) and “now.”

Then

Parents are always telling their children to “Go watch television.”

Children attend a birthday and one boy acts unruly. It’s not just his parent who disciplines him. It’s a friend of his parents who gives him a slap.

8-year old Sally Draper puts a plastic dry cleaning bag over her mouth and breathes it in. Her mother gets upset at her for messing up the dry cleaning.

The Draper family goes on a picnic and leaves all their trash on the grass without thinking twice.

Grampa Gene lets his 8-year old daughter drive his Lincoln town car.

Betty Draper brings her baby home in her arms, seated in the passenger seat of the car.

You could say the word stewardess. They were young, cute, flirty and ha…