Word: age
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...least in part, the old-fashioned way: by rebuilding sewer systems, bridges, schools and other ailing parts of the nation's infrastructure. After the I-35W bridge in Minneapolis collapsed in 2007, killing 13, the National Transportation Safety Board identified some 740 bridges of similar age and design in the U.S. They'll be targeted for repair. But Obama believes that the country could invest wisely in a new generation of green jobs as well, in fields such as alternative energy and advanced biofuels. He has long promised to make the economy more energy efficient, but his plans in this...
Prosperity has its favorite hobbies, its gold-trimmed roadsters and superyachts and the million-dollar platinum fishing lure studded with 100 carats of diamonds. But in an age of austerity, when we seek satisfaction on the cheap, some pursuits are all about value, but not necessarily about money. This is the beauty of the collector's world. When you don't like the look of the economy, you get to make your...
...find ourselves now in a golden age of obsessive acquisition. We watch Antiques Roadshow and mentally inventory the attic, troll the tag sales, join the National Toothpick Holder Collectors Society. Once treasures were prized for their scarcity, but now mass production creates mass disposal and the chance to find worth in the weird and worthless: bottle caps and matchbook covers, swizzle sticks and toilet seats. (There's a toilet-seat-art museum in San Antonio, Texas.) Since objects of desire tend to hold some special meaning, they let people connect with the instant intimacy of shared fixation. If you doubt...
...enemy of retirement is inflation," notes Fisher. He points to this model: Say you have a $2.5 million nest egg that is growing 7% a year. In one scenario, you have no extraordinary economic events and normal long-term growth that produces inflation of 4% a year as you age from 65 to 95. In the second scenario, a severe recession knocks your portfolio down to $2 million. But because of the crisis, over the next 30 years inflation averages just 2%. In both cases, you withdraw $100,000 a year to live on, and you adjust that number...
...don’t want to be pompous here, but I think it’s the dawning of a new age about species loss and climate change,” Davis said...