By Robert Folsom
1/14/2008 12:51:24 PM
Maybe it's because people are harder to impress than they used to be. MP3 players smaller than a wallet can hold 20,000 songs. A few hundred bucks will get you a subwoofer with enough rumble to set off your next-door neighbor's car alarm. And after all, everybody knows that a billion dollars (etc.) just ain't what it used to be. On the other hand, it's equally possible that our esteemed representatives in Washington would rather say that that government spending is about "33% of GDP," instead of telling constituents that they will spend something like $2,662 billion (that's $2,662,000,000,000) in FY2008....
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Category: Economy
By Robert Folsom
1/7/2008 12:53:13 PM
The savings rate has fallen below zero (again), but that's not the problem. Instead, it's that people still seem to think that they can save money the easy way -- namely by watching their assets appreciate. The bad old way was to save from one's income, which demands delayed gratification. But who wants to be bothered with that?...
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Category: Economy