The National Bureau of Economic Research has published a new paper analyzing 138 years of economic history in 14 advanced economies, which proves that high levels of private debt cause severe recessions. (
Via)
Bonus SLYT:
Money As Debt (1hr)
posted by infini
on Sep 10, 2012 -
32 comments
"A Harvard MBA Pays Down $101K Of Debt." Two years after he graduated from Harvard with an MBA, Joe Mihalic, now manager of strategic alliances and business development at Dell, vowed to do “everything in my power–short of lying, cheating, and stealing–to pay down" his student loan debt, (then totaling 90K,) "in the next ten months.” After applying for a weekend delivery job, he also decided to chronicle the steps he was taking on a blog: "
No More Harvard Debt." First page of posts is
here. Penultimate post explains his process:
"Mission Accomplished." [more inside]
posted by zarq
on May 16, 2012 -
194 comments
"What happened here in Jefferson County would turn out to be the perfect metaphor for the peculiar alchemy of modern oligarchical capitalism: A mob of corrupt local officials and morally absent financiers got together to build a giant device that converted human shit into billions of dollars of profit for Wall Street" - "
Looting Main Street" Matt Taibbi takes an in-depth look into how finance, deregulation, corruption, synthetic rate swaps, and greed decimated Birmingham, AL.
[more inside]
posted by The Whelk
on Apr 12, 2010 -
42 comments
We already
talked (self-link, sorta) about
Zeitgeist: The Movie. Its author, Peter Joseph, recently released
Zeitgeist: Addendum. (beware: last two links are two hour movies) This time, it’s about money and debt, scarcity and resources. The first, financial part may look like an extended
Ron Paul ad, but then there’s a sudden turn towards resource-based utopian techno-communalism, and an endorsement for
The Venus project. It seems to me like "Kropotkinian anarchism meets The Matrix". In these
rough times, is it time for a big leap? [Also announced:
The Zeitgeist Movement, still not active]
posted by Baldons
on Oct 7, 2008 -
21 comments
Little by little, millions of Americans surrendered equity in their homes in recent years. Lulled by good times, they borrowed — sometimes heavily — against the roofs over their heads.
Now the bill is coming due.
posted by plexi
on Mar 27, 2008 -
122 comments
Scraping By on $150K a Year
My heart bleeds for people who earn a six figure income but are still dirt poor. In a
skewed distribution model with the median income ($43,000 in 2002) being in Salina, Kansas and moving a mile east or west for each $1000 above or below that median, the Bush's would be four states away in Columbus, Ohio and the average CEO would be in....Kabul, Afghanistan. The top 400 incomes would be three quarters of the way to the moon. From a 2003
article at Alternet so they're probably beyond the moon now and on their way to Mars. From 1979 to 1997, the average annual income of the top 1% (after taxes) increased by 157% (or $414,000) while the poorest 20% went down by $100.
posted by fenriq
on Dec 16, 2006 -
68 comments
Get Rich Slowly, a personal finance web site (created by our
jdroth), has been educational to someone who spent most of his life until now pretending financial matters don't exist. His blog is updated frequently, and contains insightful tips on living frugally, eliminating debt, saving and investing. Between his site, and another very educational site entitled
I Will Teach You To Be Rich (start
here), I've greatly expanded my knowledge about managing my money effectively. Perhaps most importantly, they're both consistently interesting and easy reads.
[more inside]
posted by knave
on Aug 1, 2006 -
73 comments
BillMonk is a new way of tracking informal debts with your friends. Web 2.0 nonsense or a viable solution to those awkward 13-way restaurant bills? Not to be confused with
Zopa, another social money project...
posted by runkelfinker
on Jan 23, 2006 -
24 comments
