I’ve gotten a few messages from friends and strangers this week telling me that they think I should have been harder on Paul Krugman for not mentioning my book in his big NYT Mag essay on “How Did Economists Get It So Wrong?” Now don’t get me wrong—I really wish he had brought up The Myth of the Rational Market in his article, because …
Are People Gambling Less?
Gambling is widely considered to be recession resistant. When times are tough, people may in fact be more likely to take a chance. Sales of lottery tickets, for instance, were up in most states. So why have state tax revenues from gambling dropped?
The lost decade
The Census Bureau’s annual look at income and health coverage (based on surveys conducted in March) is out today. The rise in the poverty rate and in the percentage of Americans without health insurance got the headlines. But here’s a fact that for some reason the Census Bureau didn’t emphasize: The median household income in 2008 was …
A Dog’s Life Is Pretty Good During the Recession
No need to worry about pets—they’re riding out the economic crisis in style. The latest sign that pets are faring well is the introduction of a new magazine that’s all about dogs from Cesar Millan, a trainer known as the “Dog Whisperer.”
It’s Football Season! Bring Your Family to the Stadium for a Mere $759
In light of the way NFL team owners are treating fans—subjecting them to absurd seat license fees that cost tens of thousands of dollars, jacking up ticket prices as much as 90 percent despite the ongoing recession, suing fans who try to get out of multi-year ticket contracts—cheering on a team is starting to feel a bit like rooting …
It’s a Deal: Free Brownies and More at Panera Bread
Today, Thursday, September 10, Panera Bread bakery-café locations are offering free samples of new menu items, including a breakfast sandwich, brownies, blondies, and a new chicken salad and a sandwich. More details and info about locations here.
Top Chinese economist: ‘There’s no alternative to the dollar’
A report from TIME’s Bobby Ghosh:
Fears that China will ditch the dollar are greatly exaggerated: the U.S. currency will remain the world’s dominant financial instrument for the foreseeable future.
That’s straight from one of Beijing’s top economists, Zhang Yuyan, who was among a small group of Chinese officials briefing …
Credit Scores: Myths Busted, But the System Still Doesn’t Make Sense
Lenders use credit scores to instantaneously evaluate what sort of loan, if any, should be approved for an applicant hoping to buy a car or home or simply get a new credit card. There are tons of misunderstandings as to what makes a good or bad credit score.
The most secure job in America: CEO
Millions of people have lost their jobs this year. But not many CEOs. From the management-change trackers at Liberum Research:
Executive turnover numbers for August 2009 have remained very slow when compared with the same numbers in August 2008. When the numbers are examined from a quarterly or half yearly perspective the totals are even
…
Irresistible? Leather Pants Marked Down from $3,300 to $1,000
You know what? That’s still nearly a thousand bucks more than you need to spend on a pair of pants—even a pretty nice pair of pants.
Surprise! GM and Chrysler won’t be able to pay us back
Big shocker! General Motors and Chrysler probably won’t be able to pay back all those loans we’ve extended them! From the just-released September report of the Congressional Oversight Panel assigned with keeping an eye on the Troubled Asset Relief Program:
Although taxpayers may recover some portion of their investment in Chrysler and
…
Debit Cards vs. Credit Cards: Do You Prefer Debt, Fees, or Both?
Debit cards have been presented as the safer alternative to credit cards. A credit card is something of a temporary loan operation, allowing you to buy things with money you may or may not have, creating a situation in which it’s easy to get into debt. A debit card, by contrast, allows you to buy things using the funds sitting in your …