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	<title>Peter Principle &#187; Economy</title>
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	<description>Rising to my level of incompetence</description>
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		<title>Four key decisions that led to the crisis</title>
		<link>http://www.redwoodlake.net/principle/2009/03/12/key-decisions-that-led-to-the-crisis/</link>
		<comments>http://www.redwoodlake.net/principle/2009/03/12/key-decisions-that-led-to-the-crisis/#comments</comments>
		<pubDate>Fri, 13 Mar 2009 06:09:30 +0000</pubDate>
		<dc:creator>Peter</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[Politics]]></category>

		<guid isPermaLink="false">http://www.redwoodlake.net/principle/?p=852</guid>
		<description><![CDATA[Slate magazine is running a series on  Making sense of the credit debacle. Recently Barry Ritholtz of The Big Picture blog, listed a couple of key decisions that he thinks contributed to the crisis.
What led to the current situation were numerous legislative, ideological, and business decisions that worked together to create a systemic failure. Consider [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
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		<title>When math goes bad</title>
		<link>http://www.redwoodlake.net/principle/2009/03/02/when-math-goes-bad/</link>
		<comments>http://www.redwoodlake.net/principle/2009/03/02/when-math-goes-bad/#comments</comments>
		<pubDate>Tue, 03 Mar 2009 06:00:32 +0000</pubDate>
		<dc:creator>Peter</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Economy]]></category>

		<guid isPermaLink="false">http://www.redwoodlake.net/principle/?p=848</guid>
		<description><![CDATA[After the sub-prime mortgage meltdown and subsequent collapse of the financial system, a lot of people wondered how the credit ratings agencies got things so horribly wrong.  After Wall Street firms scraped some toxic waste from the bottom of the barrel and packaged it  as a new investment product, the rating agencies still gave it [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Pity the recruiters</title>
		<link>http://www.redwoodlake.net/principle/2009/02/25/pity-the-recruiters/</link>
		<comments>http://www.redwoodlake.net/principle/2009/02/25/pity-the-recruiters/#comments</comments>
		<pubDate>Thu, 26 Feb 2009 05:01:00 +0000</pubDate>
		<dc:creator>Peter</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[Silicon Valley]]></category>

		<guid isPermaLink="false">http://www.redwoodlake.net/principle/?p=846</guid>
		<description><![CDATA[Tech recruiters in Silicon Valley are the canaries. They sing a lot, dress in bright colors&#8230;  No, wait. They&#8217;re usually the first to get laid off, and often the first hired back when business improves. So now they&#8217;re being hit especially hard.
Recruiters Are Sending Out Their Own Résumés.
There are no precise counts of recruiters in [...]]]></description>
		<wfw:commentRss>http://www.redwoodlake.net/principle/2009/02/25/pity-the-recruiters/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>That&#8217;s why they call it money</title>
		<link>http://www.redwoodlake.net/principle/2009/02/04/thats-why-they-call-it-money/</link>
		<comments>http://www.redwoodlake.net/principle/2009/02/04/thats-why-they-call-it-money/#comments</comments>
		<pubDate>Thu, 05 Feb 2009 03:49:19 +0000</pubDate>
		<dc:creator>Peter</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[Politics]]></category>

		<guid isPermaLink="false">http://www.redwoodlake.net/principle/?p=833</guid>
		<description><![CDATA[Lately, I&#8217;ve been listening to a lot of podcasts from National Public Radio. One of my favorites is &#8220;Planet Money&#8220;, which is  the best practical explanation I&#8217;ve heard of what&#8217;s going on in the economy. They don&#8217;t track the market, or hype investments, or all that stuff you get on CNBC.
But they ask much [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>The End</title>
		<link>http://www.redwoodlake.net/principle/2009/01/06/the-end/</link>
		<comments>http://www.redwoodlake.net/principle/2009/01/06/the-end/#comments</comments>
		<pubDate>Wed, 07 Jan 2009 04:40:48 +0000</pubDate>
		<dc:creator>Peter</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Economy]]></category>

		<guid isPermaLink="false">http://www.redwoodlake.net/principle/?p=809</guid>
		<description><![CDATA[Michael Lewis recently wrote a brilliant article for  Condé Nast Portfolio magazine:  The End of Wall Street&#8217;s Boom.
He draws parallels between the irrational exuberance of the past few years and the insanity he described in the mid-eighties in his bestselling Liar&#8217;s Poker:
I thought I was writing a period piece about the 1980s in America. [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
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		<title>Worst IPO market in 30 years</title>
		<link>http://www.redwoodlake.net/principle/2009/01/05/worst-ipo-market-in-30-years/</link>
		<comments>http://www.redwoodlake.net/principle/2009/01/05/worst-ipo-market-in-30-years/#comments</comments>
		<pubDate>Tue, 06 Jan 2009 03:53:43 +0000</pubDate>
		<dc:creator>Peter</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[Tech Business]]></category>

		<guid isPermaLink="false">http://www.redwoodlake.net/principle/?p=802</guid>
		<description><![CDATA[A couple of stories in the NY Times review the Venture Capital climate in 2008, and make some predictions for 2009. The stats from last year were pretty grim:
Only six venture-backed companies went public last year, the fewest since 1977 and down from 86 in 2007, according to data released Monday by the National Venture [...]]]></description>
		<wfw:commentRss>http://www.redwoodlake.net/principle/2009/01/05/worst-ipo-market-in-30-years/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>IPO drought and no rain in sight</title>
		<link>http://www.redwoodlake.net/principle/2008/12/02/ipo-drought-and-no-rain-in-sight/</link>
		<comments>http://www.redwoodlake.net/principle/2008/12/02/ipo-drought-and-no-rain-in-sight/#comments</comments>
		<pubDate>Wed, 03 Dec 2008 05:39:05 +0000</pubDate>
		<dc:creator>Peter</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[Tech Business]]></category>

		<guid isPermaLink="false">http://www.redwoodlake.net/principle/2008/12/02/ipo-drought-and-no-rain-in-sight/</guid>
		<description><![CDATA[IPOs a thing of the past?

Despite the credit crunch, the VC fund freeze, and the stock market meltdown,  panelists at the  AlwaysOn Venture Summit think that &#8220;good companies&#8221; will still be able to go public. Someday.
Before that happens, a lot of other marginal companies will go out of business.
It&#8217;s the circle of life, Simba.
Meanwhile, [...]]]></description>
		<wfw:commentRss>http://www.redwoodlake.net/principle/2008/12/02/ipo-drought-and-no-rain-in-sight/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Another drop in home prices</title>
		<link>http://www.redwoodlake.net/principle/2008/11/24/another-drop-in-home-prices/</link>
		<comments>http://www.redwoodlake.net/principle/2008/11/24/another-drop-in-home-prices/#comments</comments>
		<pubDate>Mon, 24 Nov 2008 21:46:51 +0000</pubDate>
		<dc:creator>Peter</dc:creator>
				<category><![CDATA[Economy]]></category>

		<guid isPermaLink="false">http://www.redwoodlake.net/principle/2008/11/24/another-drop-in-home-prices/</guid>
		<description><![CDATA[A report from the National Association of Realtors says that home sales were down 3% in October, and median home prices dropped 11% since October 2007.
Astonishingly, nearly half of homes sold in October were the result of foreclosure.
“Many potential home buyers appear to have withdrawn from the market due to the stock market collapse and [...]]]></description>
		<wfw:commentRss>http://www.redwoodlake.net/principle/2008/11/24/another-drop-in-home-prices/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Cash panic sweeping VC industry</title>
		<link>http://www.redwoodlake.net/principle/2008/11/07/cash-panic-sweeping-vc-industry/</link>
		<comments>http://www.redwoodlake.net/principle/2008/11/07/cash-panic-sweeping-vc-industry/#comments</comments>
		<pubDate>Fri, 07 Nov 2008 21:32:25 +0000</pubDate>
		<dc:creator>Peter</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[Silicon Valley]]></category>
		<category><![CDATA[Tech Business]]></category>

		<guid isPermaLink="false">http://www.redwoodlake.net/principle/2008/11/07/cash-panic-sweeping-vc-industry/</guid>
		<description><![CDATA[The NY Times reports that some big investors have not been able to meet capital calls from venture firms: Cash panic sweeping VC industry &#8211; The capital calls problem. That&#8217;s likely to squeeze the Silicon Valley startup economy even more.
VC firms typically make “capital calls” to these investors whenever they need more money to pump [...]]]></description>
		<wfw:commentRss>http://www.redwoodlake.net/principle/2008/11/07/cash-panic-sweeping-vc-industry/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Tough love from Sequoia Capital</title>
		<link>http://www.redwoodlake.net/principle/2008/10/10/tough-love-from-sequoia-capital/</link>
		<comments>http://www.redwoodlake.net/principle/2008/10/10/tough-love-from-sequoia-capital/#comments</comments>
		<pubDate>Fri, 10 Oct 2008 17:24:32 +0000</pubDate>
		<dc:creator>Peter</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[Silicon Valley]]></category>
		<category><![CDATA[Tech Business]]></category>

		<guid isPermaLink="false">http://www.redwoodlake.net/principle/?p=727</guid>
		<description><![CDATA[Sequoia Capital hosted a big meeting with their portfolio companies a few days ago. Today someone posted what he says are the slides of their presentation. It&#8217;s an analysis of the trends that got us into this financial mess, and some brutal recommendations to startup companies: Sequoia Capital on startups and the economic downturn.
Om Malik [...]]]></description>
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		<slash:comments>0</slash:comments>
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