Jan
28
J.D. Salinger, author of such classics as Catcher in the Rye and Franny and Zooey, has died.
Mr Salinger died of natural causes at the compound in New Hampshire where he had hidden from view since 1953, declining attempts to turn his novels into films, refusing to repackage his short stories in anthologies, deterring biographers and suing the author of an unauthorised sequel to his best-known work. [link]
Apparently, his estate will still not allow any adaptations of his work, according to his wishes.
Jan
08
Don’t pay your mortgage, that is. On purpose. That’s right. Just walk away from it. Roger Lowenstein in yesterday’s NYT:
…voluntary defaults are a new phenomenon. Time was, Americans would do anything to pay their mortgage — forgo a new car or a vacation, even put a younger family member to work. But the housing collapse left 10.7 million families owing more than their homes are worth. So some of them are making a calculated decision to hang onto their money and let their homes go. Is this irresponsible? [link]
Jan
08
Looks like the deficit in Q1 of FY 2010 was about $56 billion more than the same time last year. Although spending went down, revenues went down even more. Here’s what CBO Director Douglas Elmendorf had to say on his blog:
The federal budget deficit was about $390 billion in the first quarter of fiscal year 2010, CBO estimates in its latest Monthly Budget Review—$56 billion more than for the same period in fiscal year 2009 despite reduced spending related to turmoil in the financial markets. Outlays were slightly lower than they were last year at this time, but revenues have fallen by about 11 percent. Later this month, CBO will issue new budget projections for 2010 and the following 10 years. [link]
These are estimates, of course, but it’s always interesting to hear what the CBO has to say.
Jan
08
Don’t get a Ph.D. in the humanities, that is. Unless you fulfill one or more of the following criteria:
- You are independently wealthy, and you have no need to earn a living for yourself or provide for anyone else.
- You come from that small class of well-connected people in academe who will be able to find a place for you somewhere.
- You can rely on a partner to provide all of the income and benefits needed by your household.
- You are earning a credential for a position that you already hold — such as a high-school teacher — and your employer is paying for it. [link]
A great article in The Chronicle of Higher Education by Thomas H. Benton, which happens to be the pen name of William Pannapacker, an associate professor of English at Hope College.
Jan
08
A new study measures gender differences in responses to sex:
Led by Queen’s University Psychology professor Meredith Chiversk (sic), the study found that men’s reports of feeling sexually aroused tend to match their physiological responses, while women’s mind and body responses are less aligned. [link]
It’s actually Meredith Chivers – who is a bit of a celebrity, having appeared on Charlie Rose and other media outlets.
In any event, a blogger – Amit Varma – asked (as a follow up to the article above):
I wonder what academics do on vacation. [link]
The answer? Have sex, of course. But for research purposes only.
Jan
08
I know there are a few regulars (thanks, mom!), so welcome to the new year, the new theme and the new name. I’m trying to get trendy here (is that even possible?).
Happy New Year to all.
Dec
11
Colbert gives us an inside-look into the inner workings of the Fed:
Dec
11
Brad DeLong gives us the real unemployment rate:
The real unemployment rate–the share of Americans who say that they are actively looking for work and don’t have jobs–has been drifting down since late spring–from 9.7% in June to 9.4% in November. The seasonally-adjusted unemployment rate over that same period has risen from 9.5% to 10.0%, as the actual unemployment rate has drifted down much more slowly than it usually drifts down from June to November as things pile up for the Christmas rush.
Dec
11
More gloom and doom for the holiday season – historian Niall Ferguson for Newsweek:
This is how empires decline. It begins with a debt explosion. It ends with an inexorable reduction in the resources available for the Army, Navy, and Air Force. Which is why voters are right to worry about America’s debt crisis. According to a recent Rasmussen report, 42 percent of Americans now say that cutting the deficit in half by the end of the president’s first term should be the administration’s most important task—significantly more than the 24 percent who see health-care reform as the No. 1 priority. But cutting the deficit in half is simply not enough. If the United States doesn’t come up soon with a credible plan to restore the federal budget to balance over the next five to 10 years, the danger is very real that a debt crisis could lead to a major weakening of American power. [link]
By the way, Happy Hannukah!
Dec
11
Executive compensation change at Goldman:
Goldman Sachs Group said Thursday its management committee will be receiving its bonus in the form of “shares at risk” in 2009 instead of cash. The shares at risk cannot be sold for five years and include other restrictions. “Discretionary compensation represents the vast majority of senior management’s compensation and is directly tied to the firm’s overall performance,” Goldman Sachs said in a statement. [link]
