Yesterday my daughter and three of her friends were visiting our home. All four had graduated college last June and all are fortunate to have jobs. These young adults were all concerned about the economy, and asked me what I thought they should be doing by way of saving or investing. They had all heard the usual advice. But, they were smart
Americans have a love-hate relationship with credit cards. On the one hand, it is hard to argue with the amazing convenience of this little piece of plastic. In fact today there are almost a billion active credit cards in the United States -- more than 2 cards for every man, woman and child in the country. The problem is that at times credit
Notwithstanding a lot of negative information about housing prices, I believe we will see stabilization in the markets by mid-year. Here is my thinking: The speed in which our economy crashed (housing and stock prices) is unprecedented. There were no economic models to predict what happened. Once the decline started, the fuel
If you want insight into what went wrong in the housing world from 2000 - 2006 please read in print or online "Saying Yes to Anyone, WaMu Built Empire on Shaky Loans." This article published today (December 28) in the New York Times and reported by Peter Goodman and Gretchen Morgenson does an excellent job pulling back the curtain on the horrors
For many of us, the financial meltdown has been a wake-up call. A reminder that oftentimes the assumptions we make when times are good do not hold up when the economy falters. The meltdown has reminded me that just because methodologies and technologies may advance, human nature does not. As a result there is a lot to be learned from
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