Thank-You Tea Party for our Damaged Retirement Accounts
Mr. ToughMoneyLove is as fiscally conservative as most but I am also pragmatic. The same can’t be said for our tea party members of Congress who robotically activated their “no new revenues” autopilot....
View ArticleDo Bored Economics Professors Deserve Tenure?
The U.S. has too many unprepared and unmotivated students attending too many lousy colleges. (I use the word “students” loosely because being a student implies that there is actual “studying”...
View ArticleIs Consumer Stupidity Incurable?
I saw this headline and had to comment: Banks continue to rake in huge amounts in overdraft fees. Wait – it gets worse when you read the specifics: Banks and credit unions received $30.8 billion in...
View ArticleBlack Friday Sanity v. Consumer Craziness
An entire mini-industry has been constructed around Black Friday, our newest national holiday. Much more is written about Black Friday deals, leaks, strategies, and other craziness than is written...
View ArticlePolice Repel Moronic Sneaker Buyers
It is hard to decide which is more stupid – paying north of $200 for sneakers or rioting to be the first in line to do so. Is there much hope for an economy that continues to be based on wanton...
View ArticleThe Sad Decline in Personal Net Worth
The Federal Reserve does at least one thing well: Finding economic bad news and sharing it with us. This week’s bad news is about personal net worth. As you probably guessed, it’s down – way down....
View ArticleTransforming a Mortgage Deadbeat is Harder than You Think
I have “mortgage modification” fatigue. More specifically, I am tired of reading about government attempts to magically transform a mortgage non-payer into a responsible credit user. The basis for my...
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