Social Security

There was a painful discussion about Social Security on ‘This Week with George Stephanopoulos” this past Sunday. Paul Krugman endeavored to explain to several non-believers how it works (here at 10:40): http://abcnews.go.com/ThisWeek/video/week-roundtable-budget-battles-18696520 It’s not an easy explanation. One wonders how many times the issue has been discussed and not understood over the decades – andRead More

We Love Banks

Steve Waldman has an interesting new post up about banks and banking. He restates an earlier observation which I find very interesting: “I think it is true that the business of banking, in order to effectively perform its social function of mobilizing resources at scale, necessarily involves a degree of deception. It must work toRead More