The Debt Trap

New York Times showed a video about the finance tragedy of Diane McLeod.
Here is a comment later on from NYT.

The story tells us that Americans should save more.

Regional Business Cycles

James Hamilton's lecture for his paper: Regional Business Cycles.

Help Homeless

An interesting conversation:

So, I was talking to this little girl, Catherine, the daughter of some friends, and she said she wanted to be President someday.

Both of her parents, liberal Democrats, were standing there with us and I asked Catherine, 'If you were President, what would be the first thing you would do?'

Catherine replied, 'I would help all the homeless people.'

'Wow, what a worthy goal you have there, Catherine.' I told her, 'you don't have to wait until you're President. You can start now by coming over to my house and cleaning up all the dog poop in my back yard and I will pay you $5 dollars. Then we can go over to the grocery store where the homeless guy hangs out, and you can help by giving him the $5 dollars.'

Catherine (who was about 5) thought that over for a second, while her mom looked at me seething, and Catherine replied, 'Why doesn't the homeless guy come over and clean up the dog poop and you can just pay him the $5 dollars?'

'Ah', I said, 'Welcome to the Republican Party.'

Again, Econ Major is Good!

The most lucrative college majors from Forbes.
Economics is number 2 out of 20 majors.