I think this basically works and, as lunatic schemes go, it gives off less of a banana-republic-from-outer-space whiff than the platinum coin does. That’s partly because it looks like a banana-republic-from-earth sort of scheme. Because it is! This happens! Countries really do enter into contracts that require high future payments but that create less formal “debt,” in order to get around restrictions on their debt. Greece did exactly that, entering a swap with Goldman that required large future payments but that reduced its official debt-to-GDP ratio in order to formally comply with EU treaties.
That’s what this is: Incur large future payments to reduce our official debt numbers in order to formally comply with the debt limit. Unlike the platinum coin, this scheme is practically normal, if by “normal” you mean “scandalous even in Greece.” Which, I mean: really is pretty much normal for the U.S. government these days.
There is little evidence that fiscal austerity and Health Care Reform have had a significant impact on the job market.
— Mark Zandi, chief economist of Moody’s Analytics (via CNNMoney)
“First-party cookies come directly from the sites you visit, but third-party cookies are placed by other companies that collect information on you, and are endangered. The privacy-minded do-not-track movement now causing so much consternation for advertisers is predicated on making it harder for companies to use third-party cookies to follow consumers around the web. Traditional cookies are also pretty much useless for mobile advertising.”
Advertisers are just the poor victims of an extremist privacy movement aiming to deny their right to digital stalking. Write your senators!
// via AdAge
One recent afternoon, I met Gordon at his house, and we drove to lunch through Northwestern’s main campus. Around Gordon and me—bicycling across the quad, wandering half-drunk into the streets—were the members of the first American generation who would be no more educated than their parents. “You look at the numbers, at how much more it costs now to get ahead—all the tutors, the college-prep courses, in some cases the private admissions consultants—and it is just astonishing,” Gordon said. What he was describing was a society where the general privilege of simply being American was once again losing out to the specific, inherited privilege of being born rich.
– Benjamin Wallace- Wells, NY Mag.
What if everything we’ve come to think of as American is predicated on a freak coincidence of economic history? And what if that coincidence has run its course? – ”The Blip”