Word: depressionitis
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So with the Great Depression II: Greater and Furiouser? approaching, this was a year of massive risk-taking. At every turn, we used chaos as an opportunity to take the nest egg and gamble it--but only after leveraging that nest egg with complicated derivatives that would famously come back...
No one disagrees that all these bailouts are giving the American taxpayer heartburn, but why are the automakers under such tight scrutiny when AIG quickly received about twice as much as the Big Three are asking for? In both cases, awful management created the need for a bailout, but suddenly...
As a person interested in reality, I much appreciated Michael Kinsley's Essay on the government stimulus package [Dec. 15]. The media regularly say the "taxpayer has been hit again." I don't recall my taxes being affected. Rather, we have borrowed again, and not from fellow Americans--but from...
"What we saw in Greece is not beyond what could happen here in France," warned former Socialist prime minister Laurent Fabius last Friday of the increasingly raucous student protests that closed about 100 French high schools last week. "When you have the economic depression and social despair we're facing...
But during a recession, cheap entertainment remains popular. Take Hollywood: While stories of soaring attendance during the Great Depression are probably false, movie attendance did increase in five of the last seven recessions. The explanation is simple: Movies provide a dose of high-quality entertainment, which is more in demand...