Book Review: Griftopia

Matt Taiibi is a rare example of someone who does amazingly in-depth research, isn't afraid to tackle tough subjects (and people in the process) and can craft a good story to boot. Griftopia, is an entertaining, informative and downright depressing look at the housing bubble and the corrupt system behind it. In doing so, he goes deeper to look at the "bubble machine" that is wall street and the political machine that does it's bidding.

Best summed as an edgier and deeper version of The Big Short with a measure of Republic Lost thrown in there; it's one of those books I find myself telling people they must read, but I'm not sure what to *do* about it.

Griftopia: A Story of Bankers, Politicians, and the Most Audacious Power Grab in American History

Quote of the month

From the Berkshire Hathaway 2007 annual report:

...just about all Americans came to believe that house prices would forever rise. That conviction made a borrower’s income and cash equity seem unimportant to lenders, who shoveled out money, confident that HPA – house price appreciation – would cure all problems. Today, our country is experiencing widespread pain because of that erroneous belief. As house prices fall, a huge amount of financial folly is being exposed. You only learn who has been swimming naked when the tide goes out – and what we are witnessing at some of our largest financial institutions is an ugly sight.

thanks to Feld Thoughts for the pointer.

Our House in Bellevue is For Sale

Our house got listed. Or see it on Zillow here.

If you know anyone looking for a lovely home in the area, point them this way.

We really do love the house and wish we weren't leaving it, but alas, 'tis not a mobile home and we are relocating.

Good geek home too. X10 lighting, media room, wired speakers all over the ouse. Includes many hundreds of feet of hardwired gigabit ethernet cable, fished with care by yours truly!

Great example of how games can teach

Perhaps a lesson more in how games can help you visualize:

We have often heard people talk about financial data or housing prices using a 'roller coaster' metaphor. Here's an example where SpeculativeBubble used Roller Coaster Tycoon to build a roller coaster using US housing prices (adjusted for inflation) to construct an actual roller coaster in-game.

I dunno about you, but that next hill is going to scare the heck out of me...