This is a collection of thoughts about the economic crisis, from the perspective of someone who knows nothing about economic theory and has no intention of learning anything about such a fundamentally unscientific, faith-based system.

GM CEO Rick Wagoner.  At first glance, the prospect of the United States Government firing anyone in the private sector they don’t like should make everyone cringe and run for their bunkers.  But if you go beyond the 2-second sound bites and sensationalist headlines (RSS headline: “Obama to GM CEO: Hit the Road”), the reality is that the president hasn’t “fired” anyone.  Wagoner stepped down as a condition for receiving more taxpayer funds.  And if you do a little more research, you’ll find that this shouldn’t be controversial at all, because people in the industry already thought Wagoner was an idiot determined to run GM into the ground (see Rick Wagoner tries to catch a falling knife - and fails from July 2008).  So we as taxpayers and potential drivers of GM cars should actually be glad that Rick Wagoner was forced to leave.

New Presidential Authority.  I was skeptical about granting the president “new authority” to step in and deal with “any institution that poses a systemic risk” when he discussed it in his March 24th press conference.  (I think Bush has forever tainted any proposal that involves giving the executive branch “new authority.”)  However, when Treasury Secretary Geithner elaborated on the plan a few days later, it started to make some sense.  I think it’s pretty clear that something is broken in the American economic system, and that something needs tweaking.  (Well, actually, I think it’s human nature that’s broken.)  But I still think a better solution would be to break up these companies that are “too big to fail” and prevent them from getting that big anymore (I guess that puts me in the regulation camp).  It seems like a national security issue to me.  I mean, there’s not much difference between Chinese hackers bringing the country to its knees and greedy AIG executives bringing the country to its knees, is there?

AIG Bonuses.  It should be obvious that the recent flap over those AIG bonuses is absurd.  People should stop wasting time and energy on populist diversions and get back to the real problems of the world.  Do the people protesting AIG bonuses have any idea how much professional athletes make in bonuses – right now, in 2009, while everyone is still losing their jobs and their homes?  (I’m going to guess that no, they don’t, and they don’t care, and the hypocrisy of their selective outrage would sail far, far over their heads.)  Also, no American born since the Rebellion should be in favor of a 90% tax on AIG bonuses - that such a bill passed the House of Representatives, of all places, is a travesty.  If you really want to blame someone about the bonuses, blame Chris Dodd.  Or better yet, shut the hell up and go back to your mindless consumption of American Idol and Dancing with the Stars.

Okay, that’s enough for now.  I can only stand writing about this kind of stuff for so long before my brain starts melting from trying to assign some rationality to economic theory.