2010
September
2
|
Economic tidbits
Within the next few years, I expect that
private
student loans will no longer be exempt from bankruptcy.
And that's as it should be, even though it will make loans harder to get.
A private loan that is not bankruptable is
too close to indentured servitude. Whether the change will be made by legislation
or by court rulings, or a mix of the two, is not yet clear.
(See my earlier comments here.)
As I've said before, the "American Dream" of having everyone own a house
is largely artificial, created by FDR's 1930s economic stimulus plan,
and appreciated by employers because it keeps employees "stable" (they can't
move away suddenly, even if you don't pay them very well).
Here's more about that.
We are moving into a world in which not everybody needs to be
a real estate owner. Forget the malarkey about tax deductions —
renting can be cheaper than buying.
And here
is the key to success as a personal-finance writer. Hmmm... He's got a point.
Permanent link to this entry
|
2010
September
1
|
Forty years?
It's hard to believe that September 1, 1970, was forty years ago.
That day was, in some ways, the beginning of my adult life.
It was my first full day of high school, at Valwood School, which I loved,
and also the day my first good telescope (a Criterion RV-6) was delivered.
When I say "the beginning of my adult life" I do not mean I was an adult.
I mean that a lot of things were launched which have continued more or less
unbroken until today. I felt much more of a break between eighth grade and
ninth than between ninth grade and anything since then. From ninth grade until
today, on the other hand, is more or less continuous.
On that day, the weather took a turn towards clear and cool; I remember the blue sky.
We had the same kind of weather here today, and I'm going to get out a telescope
and look at the sky tonight.
(A question of detail: I'm positive that September 1 is when the telescope arrived
because that is recorded in a logbook. But I thought the first full day of school
was a Monday — preceded by a shortened day the previous Friday — whereas
September 1 was a Tuesday. I was not keeping a journal at the time, so I can't check.)
Permanent link to this entry
|
|
|
This is a private web page,
not hosted or sponsored by the University of Georgia.
Copyright 2010 Michael A. Covington.
Caching by search engines is permitted.
To go to the latest entry every day, bookmark
http://www.covingtoninnovations.com/michael/blog/Default.asp
and if you get the previous month, tell your browser to refresh.
Entries are most often uploaded around 0000 UT on the date given, which is the previous
evening in the United States. When I'm busy, entries are generally shorter and are
uploaded as much as a whole day in advance.
Minor corrections are often uploaded the following day. If you see a minor error,
please look again a day later to see if it has been corrected.
In compliance with U.S. FTC guidelines,
I am glad to point out that unless explicitly
indicated, I do not receive payments, free merchandise, or other remuneration
for reviewing or mentioning products on this web site.
I have a Canon EOS 20Da camera and a Tektronix
TDS 210A oscilloscope on long-term loan from their manufacturers. Other reviewed
products are usually things I purchased for my own use, or occasionally items
lent to me briefly by manufacturers and described as such.
|
|
