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Latest Musing The renewed volatility in our tightly coupled financial system calls to mind a piece I wrote for TIME in 2000 during another period of extreme market upheaval. Here it is: Quick! The market is crashing, and you are overextended, so where do you turn for help: a) y... Books
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Short Take
Debt Ceiling Negotiations is an Absurd PhraseBy using the phrase "debt ceiling negotiations," the media is lazily buying into the GOP framing of the issue because the implication is that debt ceiling negotiations are normal. They're not! Negotiating over the debt ceiling is exactly analogous to a diner getting the check at the end of a meal, and then demanding a discount on all meals going forward with the threat that they'll blow up the restaurant if they don't get one. No one would justify that behavior in a restaurant, why do act like it's a normal part of business in Congress? read more |
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