...we can't know for sure why each individual values a banana for eating over "art banana"... And a government planner or regulator - it should be noted - can't know this either...
"Chicago’s extraordinarily high fixed costs, coupled with its escalating pension liabilities, make it one of the cities least prepared for a near-term recession..."
"...deeper and more interesting questions are not whether new jobs will be created, but what is the pace that old jobs disappear and new jobs open up,"
The higher up the wealth-power pyramid the observer is, the more prone they are to a magical-thinking belief that the empire is forever, even as it is crumbling around them...
Economics is 50% math and 50% psychology. The math says we are in the middle of a crash. The psychological orientation has been on the opposite end of spectrum, but is now slowly moving to meet with reality.
“I was a good student, I graduated on time, I did everything that I was conventionally supposed to do. Finding a job is a lot harder than they lead it on to be when you’re in school.”
The Tesla creator struck legal gold again on Friday afternoon, when a Los Angeles federal jury found that Elon Musk did not defame British cave explorer Vernon Unsworth by calling him a "pedo guy" on Twitter.
"The consumer is completely levered up. He has record amounts of debt. And the only reason he can spend is because the Fed is keeping rates low enough so that credit continues to flow..."
