The Grey Lady reports:
Sixty percent of women in the United States who are 65 or older do not have enough income to cover basic expenses without help, even if they are married, according to the report.
That is compared to 41 percent of men in that age group.
The report compares income, not . . . → Read More: The Future Is Not Pretty For Women
Is being poor self-reinforcing because it forces one to spend more on stuff a little bit at a time over time, as opposed to saving up and/or forking over a large sum at once, and eventually spending less?
I don’t consider myself “poor,” but I do have a personal situation that illustrates the question:
. . . → Read More: Economics Question: Does Poverty Force People to Spend More?
The “Fair” Tax is a really, really bad idea (see here, here and here for more on why). But, one of this really, really bad idea’s really, really bad effects is fixable.
I’ve mentioned the solution in passing before, but I figure it’s worth elaborating on. That way if it gets used (I hope . . . → Read More: A Bad Idea to Fix a Worse One, Because I Can
I have been enjoying myself in the Austrian Alps last week and hence the lower output. Here is my look though, of a number of notable news stories and contributions.
Benoît Cœuré, Member of the Executive Board of the ECB has penned a speech (and argument) on global (excess) liquidity. Izabella likes . . . → Read More: Other Alpha Sources for February 13, 2012
Regular readers of this blog know I watch reports from Vietnam as an indicator of how Governments deal with large flows of money out of fiat and into gold. Non-first world countries feel this more I think and thus they give us a view into the future as to how first world countries will . . . → Read More: Expert says: Money spent on gold is practically wasted
The summer travel season is finally in full swing. While gas prices remain high, many major retailers are taking steps to cut costs for disgruntled drivers. Wal-Mart is leading the charge, reducing their fuel prices by 10 cents per gallon for the summer months. The retail giant will offer discounted prices at gas stations . . . → Read More: How to Save This Summer
Those interested in this issue, which I have covered in this and this post, will find FOFOA’s latest post useful.
FOFOA agrees with Marx that “the history of all hitherto existing society is the history of class struggle” but says that he got the classes wrong:
The two classes are not the Labour and . . . → Read More: Debtors vs. Creditors
After a week where the deck of cards that make up the Eurozone got its so far largest jolt and where there is now not only an imminent danger of a total economic collapse in Greece but also, much more worryingly, signs that Germany herself are beginning to tire of a common monetary union . . . → Read More: Demographics and the Anatomy of International Capital Flows
Popular myth and, allegedly, the laws of aerodynamics have it that the bumblebee should not be able to take flight. Yet still, our good bumblebee refuses to be pulled down by such details and year after year it takes flight as if nothing has happened. This allegory applies, with some imagination, to Japans . . . → Read More: Japan – Defying Gravity?
Many people feel tremendous stress regarding financial matters and this often has detrimental effects on their relationships and is one of the leading factors for divorce. Like a doctor who elucidates an extremely negative diagnoses I somewhat dread explaining The Great Credit Contraction to people because of the massive effects it is having upon . . . → Read More: Provident Living Principles