Archive for the ‘debt’ Category
The Debt Issue: NYTimes Mag
If you haven’t read it already, go find a copy: this weekend’s New York Times Magazine is all about debt, and it is well-worth reading.
My favorite articles:
Suze Orman is having a moment.
What our credit card companies know about us is rather scary.
And an amazing story from Edmund Andrews about his personal credit crisis. What makes [...]
Geithner on Charlie Rose
An interesting video from Charlie Rose featuring Tim Geithner. Rolfe Winkler caught the best exchange:
Rose: “Looking back, what are the mistakes and what should you have done more of? Where were your instincts right, but you didn’t go far enough?”
…
Geithner: “…I would say there were three types of broad errors of policy and policy both [...]
Obama Unveils New Tax Brackets
This chart (click to enlarge) from the WSJ shows we’re still a long way off from the tax burdens of year’s past:
Obama’s new proposed tax rates will increase for those who are married and filing jointly, starting at $235,000 in taxable income. The first point that caught my eye was that $235K is well below [...]
The Burden of College Debt
Leverage is a dangerous game - it magnifies both returns and losses - but a historically safe bet has been education. Not only do I (strongly) believe in the intrinsic value of education, there is little doubt a college education substantially raises your future earnings. Just look at unemployment rates for confirmation: those with a bachelor’s degree or [...]
Consumer Debt Retrenchment
Consumers have been curtailing their spending for months now - we’re now deep into this recession, and virtually everyone is trying to save cash. The savings rate has rebounded from it’s near-negative numbers. And now, consumer debt - the money individuals borrow through car loans and credit cards - is falling in tandem.
Source: WSJ
Some of [...]
More to Come?
[via Clusterstock]
Howard Davidowitz says the worst is yet to come. Things have been quite rough on the consumer:
An $8 trillion negative wealth effect from declining home values.
A $10 trillion negative wealth effect from weakened capital markets.
A $14 trillion consumer debt load amid “exploding unemployment”, leading to “exploding bankruptcies.”
This video contains nothing surprising - but it’s a great [...]
