The Washington Post (‘Cash for Clunkers,’ household edition) reports on the inevitable next stimulus program. After home buyer credits and vehicle trade-in incentives, the next program is focusing on household appliances. Rather than gaining assets and depreciating them over the long term through maintenance and repairs (thus reducing expenses), Schumpeter’s ”creative destruction” seems to be the [...]
I’m finally here in DC…
The Post (Democrats Target Bank Overdraft Charges) reports on the curbing of bank fees, particularly the overdraft fee. Transactions are automatically allowed if customers go over their limit, and legislation is planned to ensure customers opt-in.
The Post reports (House Votes to End Subsidies to Student Loan Firms) to end subsidized student loan lending for banks. These loans have carried low risk (the government guarantees 97%) and high returns for banks. This earlier article in the Times (Plan to Change Student Lending Sets Up a Fight) presents the lame rationale for [...]
Continue reading about Easy Money for Banks Ending with Student Loan Overhaul
A very interesting article in today’s New York Times (Decaying Soviet Infrastructure Shows Its Era) provides an underlying warning about the consequences of not keeping up with building and foundation maintenance. From the article: In fact, all of Russia’s economy grew on roads, pipelines, electrical transmission towers and other infrastructure built by the Soviets, but idled [...]
The New York Times (Shut Out at Home, Americans Go to China) reports on the economic draw China presents for young entrepreneurs. The article is based on anecdotal evidence, though statistics are likely to follow.
Continue reading about Globalization and the Migration of Opportunity
Doubtful. The Washington Post reports (Recession means fewer babies; US births fell 2 pct) on a small decline in the U.S. birth rate (about 68,000 down from 4,247,000 births last year) and chalks it up to the economy despite at least a hundred other variables. Sounds like it’s time for a semi-partial correlation.
Credit cards are raising sneaky fees again, and this time it’s for inactivity and reinstatement. Annual fees are also said to be making a comeback, according to USA Today (Credit card issuers pile on new fees).
I’ve been hearing for some time that our building codes get in the way of energy efficiencies. Black water pipes on roofs in Florida is one example where we wouldn’t have to use as much energy for water heaters. An article in the Times (White Roofs Catch On as Energy Cost Cutters) reports on increasing [...]
Continue reading about Rethinking Energy and Building Efficiencies
The Post (Credit Card Issuers Raising Rates Ahead of New Law) reports that percentages for purchase penalties (APR), minimum payments, balance transfers, and cash advances are on the up and up while credit limits are sliding downward.