(no subject)

[asterroc]

I've been blagging here a bit less than usual lately. Part of it is that I've been Twittering more (I'm zandperl there), and part is that some of my internet thirst is being slaked more productively, by my online course. I don't feel as much need to say things to the world, if I can say it small I twit it, and only if I need to say it big do I LJ. This is a good thing - LJing can take a lot of time, and I want to become more productive. That is, do real work more consciously, and have more structured free time instead of time lost to aimless surfing.

Enough with the introspection. Check this flowchart of the financial crisis.

Comments

[blahblahboy.livejournal.com]

Very amusing flowchart. The only place I'd say that is not completely correct is that banks failed because of two reasons -- the one stated there (banks did not get their interest payments), and also because they had to write down the value of their assets because the market demand for them went down. I think the thing that blew up a lot of banks is more that the values of these CDOs had to be written down.

Do you know where housing prices in Japan are today relative to their height in their housing bubble from 1986-1990? According to wikipedia's Japanese Asset Price Bubble article, at its peak, a square foot of space in Ginza cost $93,000 USD.