Wikinvest Wire

The patron saint of pool skatin'

Tuesday, December 30, 2008

You may have seen this elsewhere by now as it appeared at Barry's Big Picture blog yesterday, but it's worth mentioning again here in case you missed it or were looking for some added context.

In a New York Times story from Sunday, it was learned that, since most of the stagnant water has been removed from the swimming pools of foreclosed homes in California's Central Valley in what had proved to be a very effective breeding ground for mosquitoes over the last two summers, the empty pools now offer a veritable smorgasbord of options for skateboarders, some of whom credit the former chairman of the Federal Reserve for their good fortune.

Some skateboarders use realty tracking sites like and to find foreclosed houses with pools, while others trawl through satellite images from Google Earth.

On the Web site, where skaters trade tips about how to find and drain abandoned pools, one poster wrote about the current economic malaise. “God bless Greenspan,” the post read, “patron saint of pool skatin’.”
What this indicates about the understanding of monetary policy by the skating community and the public at large is unclear, however, what is clear is that The Maestro now has one more ignominious label to add to his growing collection after a tumultuous period that has seen his reputation plunge faster than either stocks or home prices.


Adam Smith said...

A Specific Application of Employment, Interest and Money


This tract makes a critical analysis of credit based, free market economy, Capitalism, and proves that its dysfunctions are the result of the existence of credit.

It shows that income / wealth disparity, cause and consequence of credit and of the level of long-term interest-rates, is the first order hidden variable, possibly the only one, of economic development.

It solves most of the puzzles of macro economy: among which Business Cycles, Stagflation, Greenspan Conundrum, Deflation and Keynes' Liquidity Trap...

It shows that no fiscal or monetary policy, including the barbaric quantitative easing will get us out of depression.

It shows that Adam Smith, John Maynard Keynes, Karl Marx and Alan Greenspan don't contradict each other but that they each bring a meaningful contribution to a same framework for understanding macro economy.

It proposes a credit free, free market economy as a solution that would correct all of those dysfunctions.

In This Age of Turbulence People Want an Exit Strategy out of Credit, an Adventure in a New World Economic Order.

Read It.

Anonymous said...

I think that it shows that skaters are aware of Greenspan's level of responsibility in the housing crisis. This housing crisis is providing many empty homes with equally empty pools - the perfect storm for the world of pool skaters.

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