In times of turmoil, we start worrying less about not having enough money in 20 years, and more about not having enough money in 20 weeks. (What if I lose my job? What if my investments fall further?) So we sell our investments.
Read the whole thing.
Dec 15 2008
This morning's Wall Street Journal quotes a 1999 paper by Ben Bernanke as follows: Roosevelt's specific actions were, I think, less important than his willingness to be aggressive and to experiment -- in short, to do whatever was necessary to get the country moving again. Remember that one of FDR's first actions was ...
Dec 15 2008
Management systems degrade. As a manager or a regulator, if you stand still you fall behind. This year, the Washington Redskins hired a new coach, Jim Zorn. They started out 6-2, but they have since lost 5 out of 6 games. For the purpose of metaphor, I am going to assume that Zorn's management system started out we...
Dec 15 2008
Felix Salmon writes, In times of turmoil, we start worrying less about not having enough money in 20 years, and more about not having enough money in 20 weeks. (What if I lose my job? What if my investments fall further?) So we sell our investments. Read the whole thing.
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