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And now what did you do TODAY?


morphsci

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Sorry to hear, Haj. Good luck on the exam grading Shelly & Jim.

We had a nice day today, volunteered at our Temple for "Mitzvah Day." We helped with a free Senior Luncheon, very rewarding and some wonderful people and stories. And lots of take-home leftovers, for the attendees and volunteers alike.

Then watched the LA Kings close out the St. Louis Blues in their series. Like both teams, so bummed one had to lose, but LA is looking pretty dang good right now.

Off to catch the other game soon....

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Went to a Porsche Club of America autocross, and co-drove an e90 (3 series sedan) M3. It's stock today... by the next SCCA event (2 weeks), it'll have suspension, wheels, race tires, etc. That thing is a beast. (Buddy's race car blew a head gasket, so while that's getting a shitload of work, he had to get another toy to play with).

Came home, got a set of baby party speakers (Cerwin Vega D2) from a buddy next door who was moving, then took a 3.5 hour nap before going to see The Avengers in 3D. Ridiculous amounts of 1 liners, but in a good way. Really enjoyed it.

Finished off the night killing floors with Colin and GE.

Along with yesterday, this is the best weekend I've had in a couple months, easy.

**BRENT**

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Because austerity plans have been working so well, right? Inflation is not a current problem.

Austerity needs to be implemented properly; ideally while not stifling the respective economy. The concept of austerity has not been honestly applied yet by any government save perhaps Iceland IMHO. True austerity, again in my opinion, should be a mix of expense management while stimulating growth in sectors that will ultimately help the economy grow. Stimulating growth in the entitlement sectors won't save any economy' it will just kick the can down the road. Yes, inflation is not a "current problem" but the actions that some governments are considering right now will most certainly inflate their economies which will in turn generate even worse problems than we are facing now. Keynesian economics did not take into account "modern economies" issuing debt up the yin yang to spend like crazy without consideration of how they can ever pay it back. I am sure you can see now that that cycle is about to end in an ugly way. With the most recent action by the Argentine government in regards to Repsol/YPF and the 20% of Greece's new government being Nazi and Communist, currency depreciation, inflation and debt default are now more likely. Gee those economies don't have any sovereign debt out there coming due do they?

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Austerity certainly isn't what killed any of the European economies.

97094445.jpg

The tsunami of cheap credit that rolled across the planet between 2002 and 2008 was more than a simple financial phenomenon: it was temptation, offering entire societies the chance to reveal aspects of their characters they could not normally afford to indulge.

Icelanders wanted to stop fishing and become investment bankers. The Greeks wanted to turn their country into a piñata stuffed with cash and allow as many citizens as possible to take a whack at it. The Germans wanted to be even more German; the Irish wanted to stop being Irish.

Michael Lewis's investigation of bubbles beyond our shores is so brilliantly, sadly hilarious that it leads the American reader to a comfortable complacency: oh, those foolish foreigners. But when he turns a merciless eye on California and Washington, DC, we see that the narrative is a trap baited with humor, and we understand the reckoning that awaits the greatest and greediest of debtor nations

EDIT: Content also available directly via http://www.vanityfair.com/contributors/michael-lewis

Edited by Grahame
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Today I feel better than I have in a few months. I had my final exam for the semester, and I passed. Now we will see If my boss gives me my job back for the summer, or if I just spend it catching up on music listening and video games. Neither option bothers me.

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