Americans are portrayed as the world’s ultimate consumers, with the oversized homes, walk-in closets, overflowing storage units—and monstrous credit card bills—to prove it. We must really love shopping, right? Then why is it …
Economics & Policy
“Thrift stores would be out of business if it wasn't for hoarders.”
Bank of America Mortgage Settlement: Big Banks Could Be Forced to Repay $45 Billion
Eight months ago, when approached by investors to repay a portion of their losses in mortgage bonds, Bank of America CEO Brian Moynihan said no way. He said that his firm had followed the rules and that he was going to fight this …
Inside the Fed’s Vault: $1 Billion Worth of Unused Coins
In the basement of a Baltimore vault the size of a soccer field, 1 billion dollar coins are just sitting there. Thanks, Congress.
Getting Ready for a Black Swan
The biggest stock market surprise could be an unexpected economic rebound.
“If you think unemployment is a bigger problem than inflation, that's good. If you think the threat of inflation is a bigger problem than unemployment, that's bad.”
The Wishful Environmentalism of Cars 2
Cars 2 opened to lukewarm reviews and a smash box office, taking in $66 million domestically and another $42 million internationally during its opening weekend. The film’s ability to transcend unusually tepid reviews is clearly …
The Porsche as Smart Investment for Single Guy on the Make
A new study indicates that driving a Porsche or engaging in otherwise flashy spending can serve a dual purpose. First, it successfully attracts women. Second, it gives off the distinct impression to women that the owners of such …
Is Dodd-Frank Reviving the Shadow Banks?
They’re back.
In the past few months, it appears, shadow banks (financial firms that make loans but aren’t actual banks) seem to be making a comeback. In case you’ve forgotten about these things already, shadow banks are like …
The Optimism Deficit
In the nearly 15 years that I’ve been writing about markets and managing money, there’s been a dramatic shift that has gotten only marginal notice. We’ve gone from having an optimism surplus to an optimism deficit. That may …
Running Away from Treasuries
If, as some are saying, the long-term safety of U.S. Treasury bonds can no longer be counted on, the rules of investing will need to be rewritten.
Money Can’t Buy Happiness — Or Can It?
Many people get sucked into the belief that having more money is the key to a better life. But it’s not.