Hubris was a common theme in ancient Greek theater. Excessive pride and arrogance were punished by the gods with a spectacular fall from grace and power. And hubris seems to be a requirement for recent nominees to the Supreme Court. However, the hubris being shown by Judge Amy Coney Barrett in her ill-timed nomination is so egregious that she must… Read more »
Part One of this series laid out the cashflows draining middle-class estates in the final years of life into the “eldercare industry.” In my view, this is a significant contributor to rising income inequality. Middle-class wealth in the U.S. does not get passed on to the next generation, leaving that group to start over from scratch. My own children’s generation… Read more »
Rich people pass on wealth to their children; poor people don’t. And increasingly, middle-class people don’t either. We know that this lack of inheritance in the middle and lower ends is a significant force behind rising income inequality over the last 30 years. Much of the “extraction” of net worth from middle-class families happens in the last years of their… Read more »
On a day when we can’t get an agreed-upon historical reckoning of the sequence of governmental Coronavirus response in the United States in early 2020 (despite extensive video evidence), I’d like to share my thoughts on “the probability of history” using some classic (and potentially dangerous) examples. In the mid-1990s, the late religious historian Marcus Borg authored a series of… Read more »
Note: This is a repost from a piece that first appeared in the Iowa blog Bleeding Heartland. In a recent Bleeding Heartland piece, Laura Belin contrasted Iowa Senator Chuck Grassley’s aggressive attack on then-Vice President Al Gore’s use of a government telephone in 1997 to make a fundraising call to his silence after repeated and blatant Trump administration violations of… Read more »
One more week, one more caught-on-video incident of a policeman shooting an unarmed Black man who was not posing an imminent threat, this one in Kenosha, Wisconsin. Honestly, my first thought on seeing this particular episode after all of this ugly summer’s “repeats” was “How stupid a policeman are you?” The “veil of ignorance” may have been lifted for you… Read more »
You likely first encountered the “Type I versus Type II error problem” in grade school and didn’t realize it. Perhaps some kid in the class played a practical joke on the teacher, and because nobody confessed, the entire class got detention. In some situation or another, you were likely punished undeservedly as a group for the actions of a small… Read more »
If you are fortunate to be living off sizable and broadly diversified investments in the world’s financial markets, then your financial position by mid-August likely came back pretty close to where it was in January of 2020, before the “Coronavirus Crash.” This is especially true when dividends and interest payments received since then are included. And if you are not?… Read more »
The recent filing of a civil action to dissolve the National Rifle Association by the New York State Attorney General will generate headlines and political debate for months to come. I have done a lot of work over the years with “not-for-profit” organizations (more commonly called “non-profits”), serving on the boards of several in various roles, including president and treasurer…. Read more »
The three major Covid-19 mitigations available to “normal folks” have clearly become highly politicized. The frustrating thing here is that all three are based on science and mathematics principles that you likely learned in elementary school, but have either been forgotten or have been overridden by anti-science political cultism. So, squeeze yourself back into that 5th grade desk and let’s… Read more »