March 30, 2009
March 28, 2009
March 20, 2009
March 19, 2009
... but then again, if Latrell Sprewell were still playing, how would he feed his family with this decline in revenues.
March 18, 2009
At the mimumum wage of $7.25 today, full-time summer job will generate about $3,500 this year, which would be enough to purchase the following list of 28 items (click to enlarge):
Economics professor Mark Perry says the following: "Teenagers today can afford things like cell phones with cameras, digital cameras, GPS systems, CD players, DVD players, laptop computers, and iPods that even a billionaire couldn't have purchased 20 years ago. As much as we might complain, just by being alive in the 21st century America, even if you're earning the minimum wage, you've "won first prize in the lottery of life."
March 15, 2009
March 14, 2009
"The crisis on Wall Street is plaguing Sesame Street.
Sesame Workshop, the nonprofit producer of "Sesame Street" and other kids' programs, is cutting about one-fifth of its work force because of the economic downturn.
The New York-based company said Wednesday that it's eliminating 67 of 355 staff positions.
Declaring it is "not immune to the unprecedented challenges of today's economic environment," the company pronounced a need "to operate with fewer resources in order to achieve our strategic priorities."JR: It looks like a possibility to introduce economics to my 3 little kids at home.
March 11, 2009
Two authors of best selling textbooks, Greg Mankiw of Harvard and Paul Krugman of Princeton have been arguing, via their columns and blogs, about the very rosy economic forecast over the President's budget. Mankiw challenged Krugman to a bet, some of his Nobel Prize million, that GDP growth will not be as large as the President's budget predicts. Krugman called Mankiw "evil" and yet has not responded to the wager. My money is on my facebook friend Mankiw.
Here's the Washington Times today: "Harvard economics Professor Greg Mankiw thinks that Mr. Obama's growth forecasts are overly optimistic and that the federal deficit will be a lot larger than Mr. Obama thinks. He was chastised by Princeton's Paul Krugman, a Nobel Prize winner in economics, who on his New York Times blog claims that Mankiw can only make the predictions that he does because of "more than a bit of deliberate obtuseness." He titled his post on Mankiw, "Roots of Evil."
Last Wednesday, Mankiw responded to Krugman's attacks by suggesting: "Well, Paul, if you are so confident in this forecast, would you like to place a wager on it and take advantage of my wickedness?" Krugman has still not responded. It seems even a Nobel Prize winner isn't willing to lay money on Mr. Obama's rosy projections."
March 10, 2009
"They're coming to us, saying `Look, I want to buy 50, 100, 1,000.' They want to own every decent and cheap house they can find."
Despite a stagnant retail housing market, real estate sales of foreclosed homes are booming. Shannon regularly fields calls from eager prospects, and recently sold 30 homes in one day to one buyer. A trio of U.K. investors has bought a half-dozen and plans many more.
HT: Carpe Diem
March 7, 2009
March 5, 2009
Here’s a short list of only the highest quality, bluest of blue chip, penny stocks:
- AIG (39 cents)
- Citigroup (98 cents)
- Fannie Mae (39 cents)
- Freddie (39 cents)
- Unisys (37 cents)
Now, for the not-quite-penny stocks:
- Ford ($1.83)
- GM ($1.83)
- Las Vegas Sands ($1.97)
- MGM ($1.99)
- Bank of America ($3.15)
- Wells Fargo ($7.95)
- New York Times ($4.00)
- News Corp ($6.15)
- GE ($6.75)
And after my students have studied personal finance, hopefully they know more about stocks than The Pres.
Also here you can find an article from economist and my Facebook friend John Lott.