Going “Long” the “Big Short”

I just viewed the outstanding motion picture “The Big Short.” The acting was great. Steve Carell or others may get a “nomination.” But that’s not why I’m writing about the movie. The movie depicts “in a 2-hour nutshell” how the Great Recession began.

I’m not trying to be simplistic, the Great Recession is still unfolding in courtrooms, mortgage delinquencies, housing foreclosures, you name it! However, the producers of this movie have put a pretty good focus on the money-gambling economic crisis we have all experienced. There’s nothing like a few big name stars with a good script to bring mundane subject matter to the masses in a “fairly” digestible manner.

I have written several blogs about the unfolding of the Great Recession. For the professional version vs. the entertainment version of this I’m also listing the Frontline® documentary links available through other blogs I have written.

Humpty Dumpty had a great Fall even though there wasn’t a Wall

Eye Crosser #2: Collateralized Debt Obligations or CDOs

Regulate Derivatives, No Way!!!

Here is the Frontline® website where all of the  documentaries are listed. They highlight and focus upon specific actions or reactions during the initial “blowup” of the American financial system. Among the documentary titles are:

  • Breaking the Bank
  • The Madoff Affair
  • Ten Trillion and Counting
  • Inside the Meltdown
  • The Warning

For my readers who are teenagers or early 20’s, these events are not ancient history. They took place within the last 10 to 15 years. You may have been children but you were “living”  in this history. Feature films such as “The Big Short” help everyone to become aware of current events with some entertainment added in.

Enjoy the movie with popcorn and a cool drink. Enjoy the “rebound” from the Great Recession while it lasts!

Signs of the times #12: Work Place Loans?

Just had to “jump” on this one this morning. I just read one of my favorite WordPress authors, Gray’s Economy by Michael Gray. Here’s a link to his blog page, Mr. Gray gives an awesome insight into the economic and political “goings on” just about every day. Here’s another link from American Banker discussing the Payday loan topic:   http://www.americanbanker.com/news/bank-technology/new-challenger-to-payday-loan-market-targets-employers-1072404-1.html

Anyway, Mr. Gray’s posting this morning, “Employers offer payday loans, not raises,” made me think about a posting that I had written back in December 2015 called “Signs of the Times #1: Does your Company offer College Tuition Reimbursement

The posting is about the idea of employee “benefits.” Only “full-time” employees are offered “employee benefits” and this was always the case going back decades in the U.S. You might hear of part-time employees being offered some type of “employee benefit” but it is NOT the norm or general practice in these economic/business times.

I have commented in the past about employee benefits being a “perk” of the “golden age of full-time” employment back in the 50s and 60s. I did not realize that I had lived in a “golden age” as did  others who lived in the 1890’s; the 1890s were referred to as the “gilded age” of the U.S. industrial complex. I guess one could consider “my” gilded age as the age of the emerging middle class; as the 1890s “gilded age” was the age of the uber-rich class in the United States.

I feel anger and heart-break and sadness and …. The question is not “how did we get here”, there is tons of evidence, rhetoric, legislation (and lack of), as well as poor planning, poor management, bad decisions…yada, yada, yada, to point in that direction. The question is, how in the world do we, as a nation, climb out of this morass!  Making statements like “It’s the economy, stupid” or building walls is not a solution. A big part of the reason we are in this current mess is because of “short term solutions” and band-aid fixes to satisfy “special interests”.

Ironically, even we, the “common man,” have been party to the benefit of one or more of these “short term solutions.” So, even as I criticize others I could be criticized too. We are all “members of a class.” We could be positioned as part of a “special interest group” depending upon the “interest” of the group.

I grew up in the early age of television. There were “public service” announcements broadcast during “viewing” hours (television was not a 24-hour broadcast situation at that time). One ad I recall had something to do with the idea of a “melting pot” and “one from many.” The ads, as I recall, were meant to create the idea that the American citizenry may have come from different countries in the world but the United States was a cohesive collection of these peoples. I did a search of youtube but could not find a “public service announcement” to show as an example.

As usual I do go off a bit from one topic to another, but they seem to meld together many times, as I write my blog.  The theme of this blog posting?, “we aint what we use ta be!” or using proper English, we are not what we were before.

I’d like to leave this posting on a positive note, but, gee, this time it’s hard to do. I’ll just say have a Good Day!