A while back I was sitting in my friend Zhuang Jian’s villa outside of Chengdu, drinking some rare pu’er, smoking herb and chatting with a collection of people there. Zhuang always had artists, musicians and vagabonds over because his house was our dream: plum, peach and cherry blossoms, tea and incense, old bamboo and potted […]
world finance
We have seen this before, and its always sinister
In today’s NYT, the “demise” of Freddie Mac and Fannie Mae is treated with the soft gloves of supposed objectivity. The article begins by saying that the tumultuous tumble in stock value of the two mortgage giants is inexplicable and at the same time potentially devastating for the US economy and, above all, taxpayers.“There is […]