Welcome to the Third World, Part 12: Your Pension is an “Unsecured Obligation”
The main difference between well-run and badly-run countries is certainty. In well-run countries, money is worth pretty much the same from one year to the
The main difference between well-run and badly-run countries is certainty. In well-run countries, money is worth pretty much the same from one year to the
“How did you go bankrupt?” “Two ways, gradually and then suddenly” – Ernest Hemingway, The Sun also Rises Senate majority leader Harry Reid is on
Poverty – or its prospect – sometimes leads one to make surprising choices. Here’s a truly disturbing example, from London’s Independent: Students and the sex
For most small business people, the ideal life goes pretty much like this: a few years of all-consuming obsession to get set up, followed by
Newly-minted anthropology PhD Sarah Kendzior has written a chilling piece for Aljazeera on what things are really like in academia these days: The closing of
Meredith Whitney was an obscure Oppenheimer & Co. bank analyst back in 2008 when she broke from the pack and predicted Armageddon. She was right,
Last month I took a long, winding West Coast trip, partially for work and partially to see some old friends. It was…shocking. Almost without exception
Not all that long ago, most college campuses were pleasant but somewhat austere places where kids without much free cash learned from modestly-paid (but dedicated
It was fun while it lasted. We Baby Boomers got to diss our elders when we were young and borrow without restraint through middle-age. Few
One of the things that separate the “rich” world from the rest of humanity is the expectation that a lifetime of work is rewarded with
Yesterday’s Wall Street Journal devoted an entire page to the differences between today’s economy and a typical recovery: Slow Recovery Feels Like Recession Americans are
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