Wednesday, June 13, 2012

A Rant Occasioned by a NYT Op-Ed

If you read the op-ed in its entirety you'll note that it's actually more in line with my thinking than not, however, the first paragraph just set me off, so allow me to deconstruct it and reply to the underlying assumptions within it:

~ ~ ~ ~ ~

Although Europe may seem far away from the economic life of the average American, the fate of the euro zone weighs heavily on the United States economy.

Pension funds have invested in bonds issued by southern European states...

Tough luck! I lost $500 gambling at Trump's Casino in Atlantic City once; my bad!

...while banks and insurance companies have underwritten a sizable fraction of the credit-default swaps protecting investors against default.

Again... NOT... MY... FRIGGIN'... PROBLEM...!!! (Or at least it shouldn't be!)

~ ~ ~ ~ ~


No comments: