As the tortuous debt ceiling debate continues, with plot twists that even the most diehard political junkies are having a hard time keeping straight, one aspect continues to bedevil the process: the staunch refusal of both …
Economics & Policy
Oh, the Irony! To Get a Job, You Must Already Have a Job
Last summer, a few disturbing job ads surfaced requiring that candidates “must be currently employed” to be considered for the openings. Nowadays, the practice of hiring only those who already have jobs is commonplace.
Stupid Airfare Tricks: Taxes Go Away, But Fares Stay the Same
A deadlocked Congress refuses to advance legislation and government functions grind to a halt. Sound familiar? Actually, this isn’t the debt ceiling debate. It’s a dispute that’s put the Federal Aviation Administration in an …
Great Recession Drives Financial Wedge Between Whites, Minorities
It’s no secret that the Great Recession has shattered the financial dreams of millions of Americans. It’s not just the 9.2% of Americans who are unemployed, or the 18.2% who are underemployed (that number includes part-time …
The Reason You’re in Love With Material Possessions? Loneliness
People are supposed to love other people (and perhaps, pets and local sports franchises). So why is it that consumers are prone to borderline-romantic infatuations with stuff ranging from cars to computers, and even guns? Why do …
The U.S. Will Not Default on August 2
The only thing that matters for global markets over the coming days is whether a deal can be struck in Washington over the debt ceiling. That said, there is one major misconception – fostered by politicians – about what the …
Odd Couple Debt Dance In D.C. Spooks Markets
Can two major political parties get along without driving the financial markets crazy? Apparently not, as Democrats and Republicans – the odd couple of U.S. politics – still aren’t on the same page in agreeing to a new debt …
4 Weird Academic Studies on Economics and Consumer Behavior
Studies show that flexing one’s muscles may help fight off—or possibly cause—wasteful impulse purchases, and other weird money findings.
New CFPB Thinks Credit Scoring is Confusing, Too
Elizabeth Warren must have eaten her Wheaties Thursday morning, because the brand-new Consumer Financial Protection Bureau is already busy. Bright and early this morning (we checked at 6:30 a.m. ET), a link to a new “credit card …
Apple Does it Again: Why Companies Win While Economies Lose
As Washington continues to skate perilously close to the economic abyss, 3,000 miles away in Cupertino, California, this week Apple released its results for the second quarter. To no one’s surprise but to almost universal …
CFPB Will Tackle Credit Card Issues Soon, Advocates Predict
The Consumer Financial Protection Bureau officially opens its doors today. Conceived in the wake of the subprime meltdown and the subsequent financial market crash, the CFPB was envisioned as a financial services version of something like the Consumer Product Safety Commission, except that instead of pulling lead-tainted toys or …
Want Happiness? Don’t Buy More Stuff — Go on Vacation
When it comes to spending money on things or experiences, the research is clear: Doing brings more happiness than owning.