My Shanghai-based colleague Bill Powell has an excellent cover story in the Asia edition of TIME asking the big question: “Can China Save the World?” His answer is no, its economy just isn’t big enough. But that’s changing fast:
If Beijing can come through the global crisis without an economic meltdown of its own, its leaders’ reputation
To hybrid or not to hybrid. As a car buyer, you look at the sticker prices and gas mileage stats for two similar cars. One (the hybrid) is more expensive but gets better mileage. The other is cheaper to buy, but you’ll have to fill ‘er up more often. So you’re left wondering: Is it worth it to pay more upfront for the hybrid?
Henny Sender has a story in the FT about the fact that Wall Street firms have been making lots of money trading with the Federal Reserve. I can think of two valid reactions to this:
1) No duh! Ensuring the health (a.k.a. profitability) of the financial system is a major responsibility of the Fed. The financial system was near collapse …
Eric Hagen may be the nicest cab driver ever. Perhaps he’s the smartest too. A full-time employee at the American Red Cross in Burlington, Vermont, Hagen recently started a new business: Recession Ride Taxi. He printed some business cards, and put the words “Pay What You Want!” on the back of the SUV that doubles as his taxi.
The Cash for Clunkers program has worked all too well, burning quickly through the initial $1 billion allotted to consumers trading in old cars for more fuel-efficient models. Another $2 billion appears to have been approved for the program. But is this is a success for the economy? Or just for some car buyers who are basically getting a …
When a cheapskate drops cash on something, you know it’s worthwhile. After a brief hiatus in the series of posts that explore what seriously frugal folks will spend good money on—and when cheap is the way to go—here’s another entry, from Gary Foreman, editor of The Dollar Stretcher.com.
A Times story cites a report that one in three people admit to napping on a typical day. “Admit.” As if napping is a bad thing.
Holey moley. I missed this when economist Willem Buiter posted it on his FT.com blog a few days ago. He says the front-runners for the Fed chairmanship when it comes open next year are incumbent Ben Bernanke, SF Fed President Janet Yellen and Larry Summers, then writes:
Both Bernanke and Yellen are qualified for the job. Summers is
It’s the retail equivalent of jumping the shark: Stores such as Sears, Kmart, and Toys “R” Us are already trying to merry up their sales with Christmas displays, online Christmas specials, and “Christmas in July” sales.
The recession has lasted longer than any in history—certainly long enough for the unemployed millions to realize that their old jobs are gone for good, and that it may be time to make some dramatic career shifts.
My new column, on Washington’s campaign to regulate executive and Wall Street pay, is online. It’s got a lot of Lucian Bebchuk in it, and this morning Bebchuk is at it again, with a WSJ.com op-ed (co-authored with his Harvard Law School colleague Alma Cohen) making the case that it appears banks have actually gotten more generous in …
People will pay for quality. Even during an economic crisis. Even when the people involved are self-described cheapskates.