Word: crediteers
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Actually, yes. Over the past few years, psychologists and behavioral economists have been studying how emotions affect our decisions. You can make a good argument that complacent cheerfulness, in the form of blind faith in our credit cards and home values, got us into this situation. And there's evidence that certain so-called negative emotions can help us get out of it. In his new book, Born to Be Good: The Science of a Meaningful Life, esteemed psychologist Dacher Keltner of the University of California, Berkeley, notes that we usually conceive of emotions as diseases...
...economy badly needs: consumer spending. According to the Department of Commerce, just when the economy was tanking during the third quarter of last year, the personal-savings rate jumped to its highest level in nearly four years. In the long term, a higher savings rate will help prevent future credit meltdowns, but most economists agree that in the short term, we need to stop stuffing paychecks into mattresses. Being sad can help do this because, as the authors put it in the title of the Psychological Science paper, "misery is not miserly." People feeling depressed about their lives are more...
...miss something? There is a growing consensus among historians and economists that World War II, not the New Deal, got us out of the Depression. Stimulus won't solve the fundamental economic problems of this country: decades of low savings coupled with ravenous consumption, fueled by cheap credit, all of which we are now paying the piper for. Nathan Mintz, REDONDO BEACH, CALIF...
...totally credit my sister for making the dream a reality,” Jih said...
...agencies, close, even if you turn the money back on, they don't spring back up," says Radogno. "They're gone, and we're damaging the human services infrastructure in the state." The cash flow at free clinics is drying up. And to make matters worse, the state's credit rating is sinking - and there hasn't been a balanced budget in years. As a result, the state has had to take out emergency loans to cover the deficit, and those payments - amounting to hundreds of millions of dollars - will be due in late winter and spring...