Wall Street to Lance Armstrong: We Get It!

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As human beings we try to do two things at the same time. On one hand, we want to look in the mirror and feel good about ourselves … and on the other hand, we want to benefit from dishonesty.    Dan Ariely, Ph.D. Professor of Psychology   and Behavioral Economics, Duke University   Before you complain [...]

The Frog is Cooked!

Photo Credit: Escape by jronaldlee

WARNING: Graphic Frog Content.  Read at your own risk. As the story goes, a frog is placed into boiling water.  And when the frog hits the hot water, it immediately jumps out. But when the frog is placed in cold water … heated slowly over time … the frog doesn’t move so quickly.  As a matter [...]

How U.S. Bankers Play Their Shell Game … and Get Away With It!

Credit: Theodore Scott (CC)

Ever play the shell game? It’s a so-called gambling game where a small ball is shifted underneath one of three shells. And the spectator wagers on which shell covers the ball when the shifting stops. If the spectator guesses correctly, the shell man will pay double on the bet. But if the guess is wrong, [...]

Banks gone wild … again!

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Banks are setting the rules without regard for reality!  At least that’s how Neil Barofsky summed it up when talking with Bloomberg news about the recent LIBOR (or, as some are calling it, “Lie-bor”) price-rigging scandal. I won’t get into the complexities of LIBOR — the London Interbank Offered Rate — but here’s the gist.  [...]

‘Affordable’ Healthcare on Sale Now … Only $2.6 Trillion!

Credit: Robert Huffstutter (CC)

Washington just took over one-fifth of the entire U.S. economy.  And with the full backing of the Supreme Court, no less.  Our wise leaders can now direct $2.6 trillion in NEW federal spending for cheaper universal healthcare. Said differently, we the people just gave Washington a huge piggy bank.  A $2.6 trillion piggy bank filled [...]

If You’re in a Hole … Stop Digging!

Photo Credit: Koka Sexton (Creative Commons)

Maybe it’s the new book. Or maybe because he’s arguably the most-vocal economist of this generation.  Either way, he’s everywhere.  And it’s not just his daily posts at The New York Times that are raising eyebrows. He’s on CNN, MSNBC, CNBC, National Public Radio and many other media outlets.  Not to mention countless print publications [...]

This is the worst day ever … how’s yours going?

Photo credit: music2work2 (Creative Commons)

I was in the break room when a coworker from another department walked in.  Within seconds we got to the “Hi, how are you” exchange … promptly followed by the obligatory “I’m good, thanks.” But today was different. As I was speaking something inside me gave me pause.  I finished getting water from the cooler [...]

Out of the Mouth of Babes, a Banking Revolution!

The following is not your typical exchange between a Mom and her pre-teen daughter …   Daughter:   “Mom would you mind taking me to the mall today? I want to use the gift card Grandma sent me.” Mom:           “Sure honey. I had some errands to run anyway.  Let’s go after lunch.” Daughter:   “Great! Thanks [...]

The Economic ‘A-Bomb’

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I was recently talking with some friends about the economic headlines streaming out of Europe.  Since my friends aren’t really followers of economic and political trends, there was a sense of puzzlement when the word “austerity” came up. Their reaction, “What does that mean, exactly?” Interestingly, the puzzling looks continue to crop up more and [...]

Greek Lessons in Economic Alternatives— Hope for the West?

If you look beyond the surface of the global financial crises — beyond what the mainstream media feeds us — you will truly begin to see the magnitude of the current dilemma. The troubles in Greece seem a world away … but in reality, they are much closer to home than any of us realize. [...]