American mortgages, Chinese currency


I know these two quick observations are oversimplifications of broader, more complex issues, but I'm going to observe anyway. Have you ever noticed oversimplification is a less simple word than simplification?

American mortgages

I'm by no means the first person to point this out, but I just feel compelled to here anyway. Instead of giving money to the banks to bail them out as a result of bad debts, why didn't the United States government give the money to homeowners instead to pay their mortgages? The banks would have got their money and homeowners would still be in their homes while the government works out what to do next. It wouldn't have solved the problem of land values, but then again writing the banks a giant cheque didn't either.

Chinese currency

Barack Obama has pledged to put pressure on the PRC to stop messing around with their currency, to use the correct economic terms. With such a breathtaking deficit and the Chinese willing to buy American government bonds with the effect of lowering the value of their currency against the dollar so their exports are more competitive, how will Obama do this at all? He has nothing to stand on.

Grilled cheese sandwiches

Taste better with gherkin and a bit of cracked pepper.

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