Rearview Mirror Justice- Online Scams, Madoff Response, Charles Ponzi

Subtitled- "No Help for Dudley Dooright"

Last night I discovered (through the person's stupidity) an online scam on craigslist. The person attempted 2 times to sell a really nice Acura TL for $4,000 on Michigan based boards. They used the same e-mail address, and followed with the same Picassa account for more pictures. The first time they even had a picture of a carfax report from a different car. Different cars each time, but in perfect condition (likely from a dealer lot being fully detailed).

Keynes vs Minsky "Financial Instability Hypothesis" and GREED

John Maynard Keynes formulated the body known today as Keynesian economics is his largest work "General Theory" of 1936. Keynesian economics with its microeconomic cousin, neoclassical economics, is the basis for the actions of world governments over the past year of financial bailout and of the economic structure that preceded it (likely even fueled it).

Stock market and Swine flu pandemic panacea...

“There is a certain lunatic fringe in the stock market, and there always will be whenever there is any successful bear movement going on… they will put the stocks up above what they should be and, when frightened, … will immediately want to sell out… when it is finally rid of the lunatic fringe, the stock market will never go back to 50 per cent of its present level…

We shall not see very much further, if any, recession in the stock market, but rather … a resumption of the bull market, not as rapidly as it has been in the past, but still a bull rather than a bear movement.”
 

--Economist Irving Fisher 1929 to a conference of bankers 2 days before the 1929 crash.

Online Calculators

Here is a useful website with links to online financial planning calculators all over the internet for all types of situations.

http://www.choosetosave.org/calculators/

Looking forward to a presentation at a conference in a few days with Harry Markowitz, the father of "Modern Portfolio Theory." We'll see how he views his Nobel Prize work after the occurrence of a statistically impossible event. Well one could occur every 1,000 years. But we have had two of these in a little over 100 years.

Of course it has to be in San Diego. How far can swine flu blow if I am right by the border to Mexico?