Elster's World

Friday, October 17, 2008

Rough Times Ahead

Heard on CNBC this morning:

"What's the difference between a Hedge Fund manager and a pigeon? A pigeon can still make a deposit on a Ferrari."

Haha. Well, it is kind of funny. Obviously in a sad way. The economy is slumping badly, led by the destruction of the banking industry and its satellites. All the predictable results follow. The stock market tanks, there's no money to be had - the banks have tightened up their lending (finally). The whole slump feeds on itself causing a correction, recession and/or depression. It remains to be seen which of the three happens, though I think even the most bullish will admit we are past correction and into recession.

The scary part to me? The real estate bubble has yet to burst. Prices for offices building are still way too high. I'm afraid of what happens to the overall market when this last ingredient is added to the mix.

The truth is, the last ten years have led people to believe that there are only good times, that real estate and hedges and hedge funds are cash machines with arrows that only go north. The lack of fiscal responsiblity is amazing. Those who made this mess are now paying a very terrible price.

Sadly, they have taken us all with them.


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In other sad news, I can't help but have a bad feeling about Sunday's game. Sure the Raiders are terrible, but isn't this exactly the type of game the Jets would always lose? The absolute sure thing? I think the Jets will win in the Black Hole but I fear it will be ugly and very close.

In happier news:

The Jets signed Calvin Pace to be a pass rushing specialist after he racked up a whopping 6 1/2 QB kills last season. Of course, the Jets didn't get a pass rushing specialist. Instead they got an all-around linebacker who plays the run and pass very well. He has made up for David Harris' slow start and has allowed guys like Bryan Thomas to focus more on pressuring the Quarterback. Has he had more of an impact that Kris Jenkins? Probably not - Jenkins has made the Jets defensive line relevant again, something I didn't think was possible.

On the whole, the Jets defensive acquisitions this year have been very good. Pace and Jenkins have helped shore up the front seven (the Jets have been very good against the run this season) and Dwight Lowery won the starting cornerback job as a rookie. He has been uneven, but more good than bad. The jury is still out on Vernon Golston.

On the offensive side of the ball, the new arrivals rank like this. Favre, Keller, Faneca/Woody.......the Franks and Richardson. As John Madden would say, Favre is Favre. Keller has fit in nicely and needs more touches. The addition of Faneca was supposed to turn the Jets into an elite offensive line. Since they cannot run the ball, the are not elite - though they do pass block well. Richardson has been a non-factor in helping the running game and Franks is...I'm not sure what Franks is.

Overall, I'm still not sure what about this Jets team. I doubt the Jets are too sure about their team. Still the team is 3-2 going into games at Oakland, home against KC, at Buffalo then home for St. Louis. Thus, they have a legitimate chance at being 7-2 or 6-3 going into their second joust with New England (yes, I know that I'm getting ahead of myself). So you can't really complan about that.

Anyway - the key to surviving bad times in economic sense and in sports sense is to be well prepared, then strap on your helmet and take the worst of it as best you can.

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