19 of 25 people found the following review helpful:
5.0 out of 5 stars
A Modern Emily Dickenson in the World of Finance, October 25, 2005
This review is from: Just What I Said: Bloomberg Economics Columnist Takes on Bonds, Banks, Budgets, and Bubbles (Paperback)
By Caroline Baum, the Emily Dickenson of markets.
Every now and then you read a book like this that makes you want to stand up and cheer, and tell all your friends that this is the real McCoy, that Emerson or Emily Dickinson or Samuel Johnson is alive. That's the feeling I have while reading "Just What I Said" again. To see what I mean, consider this. The middle-of-the-road, mediocre, eponymous tennis player and economist Robert Samuelson says in a sap-filled sendup to his kids: "You've got to care more about the election, because it goes to the heart of who we are as a nation. The greatness of the United States is not McDonald's or Microsoft. It's our basic beliefs how how we should govern ourselves."
From long experience reading her columns I shudder when she quotes someone like this, especially the fake Dr. and poseur at the head of the Fed. She never lets them off easy and writes, " The greatness of the US, Mr. Samuelson is precisely
McDonald's and Microsoft. They are the product of how we govern ourselves They are symbols of liberty and democracy. If you tell that to your kids, they actually might come around. These companies identify a consumer need, conceive a product or service to satisfy it, and compete with other producers to deliver the best qualtiy at the lowest price."
My goodness, she sounds like ... one of my favorite personages.
The book is replete with poetic and poignant ways of looking at such important things as the yield curve, the Fed influence, the doomsdayist take on the stock market, first principles of economics, bureaucratic snafus in business and government and homely analogies of the kind that you'd expect a sagacious
all-knowing columnist to make. Some of my favorites in this regard are the lessons she learns from birds at her bird feeder about crowding and mobbing, the chapter that could have been entitled "I, Mop" about the nitty-gritty of what a mop
should do, the unhelpful help desks of the technology firms (never sell her a bad product if you dont want to be pantsed in front of the most knowing audience in the world).
One of my favorite examples of her insights is her use of the word McMuffin to hold up to ridicule "Dr." Greenspan's attempt to make Congress think he's much smarter than they are by trotting out one new indicator after another that one of his boys has developed and or researched for him recently.
The list of the great things she illuminates and the insights that you can get from this book is endless. Its a masterpiece that belongs in everyone's library. I have bought dozens of copies for my friends, and plan to buy more.
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15 of 20 people found the following review helpful:
5.0 out of 5 stars
Just What I Said should be just what you read....., October 6, 2005
This review is from: Just What I Said: Bloomberg Economics Columnist Takes on Bonds, Banks, Budgets, and Bubbles (Paperback)
As a student of the economy and financial markets, I've long been an avid reader of Caroline Baum's columns. This book is a wonderful compilation of her best writing on the macroeconomy, bond market, interest rates, government policies, and related topics, about which only she would write.
Many of her columns are both timeless and timely. For instance, those wondering about the economic impact of Hurricane Katrina should read her column from Sep 16, 1999 on Pg. 40 titled, "Hurricane Sweeps Coast; Nonsense Sure to Follow." For those seeking a greater understanding of oil's economic impact, including why higher oil prices are really not like a tax, read her column on Pg. 80 and her chapter beginning on Pg. 201 titled, "Oil Things to Oil People."
Couple her plain speaking, common sense and didactic writing approach with her access to and relationships with many of the finest minds in economics and finance and the result is a very educational read for the economics student to the finance professional. She is the rare writer who is capable of explaining the complicated in a simple, interesting and often entertaining way.
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6 of 8 people found the following review helpful:
5.0 out of 5 stars
Yes Virginia, you can think for yourself about financial markets and Caroline Baum is here to help you!, September 22, 2005
This review is from: Just What I Said: Bloomberg Economics Columnist Takes on Bonds, Banks, Budgets, and Bubbles (Paperback)
Think you can only understand the financial markets courtesy of "analysts" at your local mega brokerage shop, non-stop talking heads on financial television or "objective" government economic spokesmen? Well, think again because Caroline Baum is here to help you. Armed with little more than clear thought and precise prose, Bloomberg's ace economics journalist will leave you wondering what all those "experts" get paid for. With tongue planted firmly in cheek and harpoon in hand, Caroline Baum demolishes inconsistent thought and popular delusions about economics and the markets. Each chapter's topic (such as how to think about the Fed or oil prices) has a brief preface and is followed by several past columns on the topic that Caroline Baum has penned for Bloomberg News. Two things stand out: it is amazing how many poor economic ideas get recycled over the years and it is impressive how Caroline Baum's columns have withstood the test of time. Economics is about the allocation of scarce resources and Caroline Baum's economic journalism reflects that - substance over volume.
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