Comments on: Obama: Pass My Stimulus Or The Country Gets It

By: alyx

alyx — Fri, 09 Jan 2009 18:43:23 +0000

Hmm… I know the state and federal $ is already in place for the project so you’re probably right that this is Orlando’s plan for how they’re going to cough up the local 25%.

By: Jason

Jason — Fri, 09 Jan 2009 18:38:32 +0000

I thought the light rail was another way to get money for its part of the light rail project that Jeb finally convinced Florida that it didn’t want. Or is it still that?

By: alyx

alyx — Fri, 09 Jan 2009 18:34:30 +0000

“Shovel-ready” is entirely too vague. There are plenty of projects that can be funded using this term that would create construction jobs in the short term without having any long-term utility. For example, the city of Orlando is preparing to ask for something like $30 bn from Obama, in large part to fund an arena and arts center, neither one of which anyone in this city will attend, and a light rail, which no one will use because we have what is probably some kind of record-setting suburban sprawl and it is impossible to service an area like this with an expensive rail. If projects like this are what is funded as “shovel-ready” – then I am, at best, not a fan. (Now, the construction of roads and bridges – “Bridge to Nowhere” notwithstanding – is not something I would complain about.)

And “green” initiatives, those I fully expect to be smoke and mirrors, though I am sure LoLo is sending off those plans to put windmills on the roof of Goldman Sachs right now.

By: Porlock Junior

Porlock Junior — Fri, 09 Jan 2009 18:31:05 +0000

baychev may need to reconsider that proposal. You make all the experts explain where the profits are coming from, and you’ll bring down thousand of Madoffs all at once. Can we stand the strain?

The WSJ had a pretty good article on irrational behavior, including that of the author, an expert on the subject who lost 30% of his retirement to Madoff. I have been reading about the visible signs of wrongness in Madoff’s operation because my complacent confidence in my own good sense has been shaken by events, and I really don’t want to fall into traps, so I pick out the sort of things that ought to tip me off.

BTW there was of course one major no-brainer there — but would I have thought of it? — in Madoff’s gigantic operation’s failure to have its billions in the care of a known and reliable custodian. Duhh!

But the other impressive warnng to me was how everybody was impressed by the success of Madoff’s wonderful algorithms, which no one else could figure out. Arrant bullshit! Anybody recommends a nostrum as a good place for your money, and you reach for your Browning. It can’t be done over years unless all the rest of Wall Street is even stupider than I think it is. So I’m personally safe from the particular hysteria of following the Secret of the Genius; but a bunch of customers of brilliant money managers aren’t, which is why baychev’s proposal may cause too suden a collapse. Good idea, though.

By: Porlock Junior

Porlock Junior — Fri, 09 Jan 2009 18:20:54 +0000

The total wrongness of that “shovel ready” idea has me a bit confused. Last year, when there were Republicans in power who were determined to do nothing about it, this country was full of decayed infrastructure that needed to be fixe now, or preferably yesterday. I thought this was what that popular kenning referred to.

Now — less from lolfed’s bit of snark than from comments here and everywhere — with a change in party and a guy who expresses determination to get the fixes under way, it turns out that’s all bullshit. Odd. I know it’s not a conspiracy to prevent anything from getting done because wallowing is so much fun; in fact, I have avoided the usual phraseology of “Now the very same people…” because I don’t know that that’s true. Still, a funny coincidence.

Driven across any bridges in Minnesota lately?