A couple weeks ago the Federal Reserve announced results of the latest Comprehensive Capital Analysis and Review (CCAR), aka stress test, for large banks. The stress scenario included 13% unemployment, a 50% drop in stock prices and a further 20% drop in housing prices. Basically, the scenario is a severe double dip recession. In . . . → Read More: Capital Adequacy and the Stress Test
Dan Walters has a piece on California’s proposed licensing of interior designers, and I recommend you read it. Here’s his concluding paragraphs:
Is there any public interest need for such licensing?
If an interior designer botches a job – painting a wall magenta instead of puce or some such – it’s not a matter of . . . → Read More: Strange Behaviors
Last week the Federal Reserve released the Flow of Funds (FOF) report for the quarter ended December 31, 2012. The report showed that household sector net worth increased by $1.2 trillion during the quarter to $58.5 trillion. The financial crisis and subsequent recession has been marked by an enormous decline in household net worth, . . . → Read More: The 90% Versus the 10%
One of the more revered rules of thumb in retirement planning is that retirees can be comfortable in spending 4% per year of their accumulated net worth. While the origin of this rule is not certain, it has been popularized by financial planning expert William Bengen in a series of articles dating back to . . . → Read More: The Real Risk is Living Too Long
Brian Caplan was writing about the Charter Cities, which he likes as a second-best choice because:
The first-best solution to global poverty, therefore, is for the First World to allow much higher levels of immigration. Unfortunately, despite its low absolute level (annual U.S. immigration is well under 1% of its population), immigration is already extremely . . . → Read More: More Support for Immigration