Covid Thoughts 2020 04 18

Human progress seems to come in waves of euphoria and depression, and each is in many ways a reaction to the other.  At our pinnacles we delude ourselves into thinking we have overcome our fragility; in the abyss we underestimate our inner strengths and resiliencies. ...

Creation of Destructive Demand

In 1993, under Andrew Cuomo (currently governor of New York), the Department of Housing and Urban Development (HUD) announced that it would “encourage” Freddie Mac and Fannie Mae to have half their loan portfolios in affordable-housing (subprime) loans. Freddie and...

Rewarding Failure with Power

“When businesspeople and senior executives do a bad job they are -eventually at any rate- thrown out on their ear.  As Fed Governor, Ben Bernanke convinced his colleagues to pump up an inflationary bubble to avoid a crisis; as U.S housing secretary Andrew Cuomo...