In economics, "games" are not about recreation and fun. Instead, "gaming" a system is figuring out how to get around the intent and profit by out-smarting the rules. It looks like the Geithner-Summers plan to bailout the banks and get rid of their "toxic assets" is ripe for gaming. From Jeff Sachs of Columbia Univ … Continue reading The Geithner-Summers Plan: Let the games begin
More people are coming around to the idea that the recovery will not be a typical V-shaped recovery like the recessions of the 50's-80's. Instead we're looking at the U-shaped recessions of 1991 and 2000-01. Worse yet, it may be L-shaped like the Japanese recovery from the banking crisis of 1990. Even if we bottom-out … Continue reading Will it be L-U-V?