Word: worthing
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...market for instruments worth less than $100,000 has indeed weakened somewhat, agrees Gael Francais, a violin maker and dealer based in New York City whose family has been in the violin-making business since the 18th century. Francais and Margolis say the recession has limited the capital available to musicians shopping for tools of their trade. (Watch Jeremy Caplan's duet with...
Chances are, there is much more unraveling - deleveraging, to be technical about it - to come. Gluskin Sheff's Rosenberg looked at the ratio of household debt to total net worth and figured that for things to fall back in line with where they've been historically, Americans would have to get rid of some $3 trillion to $5 trillion in debt over the next few years. (Read "Lidia Bastianich Saves Our Dough.") Lansing and San Francisco Fed colleague Reuven Glick ran a simulation of what would happen if U.S. consumers followed a path similar to that of Japanese businesses...
There are three things worth keeping in mind about any great enterprise that eventually falls. Number one, the seeds of decline are usually in place long before decline becomes visible - like a disease where you look strong on the outside but you're already ill on the inside. Second, we tend to think decline happens because of complacency - people just sitting still, not being aggressive or innovating. But we found there's often tremendous change and innovation leading right up to the point of fall. It's overreaching: undisciplined growth, undisciplined risk-taking. Finally, I was surprised...
...Kentucky, for her first book, 99 Drams of Whiskey. TIME spoke with Hopkins about different brands' personality types (for the record, Bushmills White Label is "the Julia Roberts of the whiskey world"), why drinking water with whiskey is key and whether "Mr. Disposable Income" got his money's worth for that $70,000. (See pictures of whiskey-making...
...they enjoy unrestrained access to global news and political commentary. That Hong Kong was, in 1989, an undemocratic British colony with a seething communist giant as a neighbor merely taught people to pick their battles carefully - in itself a valuable political skill - and they saw Tiananmen as a cause worth the agitation. The principal of my primary school, who addressed us soon after the Tiananmen drama unfolded, warned us to ignore the protests and the marches, saying, "You're kids - what do you know about politics?" He was adopting the stance of an anxious educator, but he did not represent...