money-matters

The Economy Is Having a Relapse

Hamilton Nolan · 05/04/11 11:09AM

Good news from the world of Economia! Well, not "good," exactly. Bad. Bad news. The glorious economic recovery seems to be in danger of stalling, what with the sluggish growth rate, persistent unemployment, and general malaise among the non-investing class.

All This Inequality Is Making The Poors Very Distrustful

Hamilton Nolan · 04/25/11 12:31PM

The whole nation of America was founded on the premise of being "one big happy family," with equality for all—women and minorities now included by law! Sadly, economists tell us that income inequality may be eroding the trust between the rich and the poor members of the American "family." What's the reason for the treason, distrustful poors?

Dov Charney Gets His Bailout

Hamilton Nolan · 04/22/11 08:25AM

Teetering teenage titty tableau titillator American Apparel has been wrestling this week with the question of how to get millions of dollars to keep itself alive while still being run by Dov Charney, a crazy person. They've done it! How? They found the minute handful of people in North America who A) have millions of dollars to invest, and B) do not think Dov Charney is a crazy person. What are the chances?

Higher Taxes Don't Make Rich People Leave a State

Hamilton Nolan · 04/21/11 11:37AM

The state of New Jersey instituted a "millionaire's tax" (those making over $500K had their state tax rate raised to 9% from about 6.5%) in 2004, because its multimillionaire governor at the time was a socialist who hates success. Now, a new study has documented the devastating effect that this penurious and unfair tax scheme had on the state, as all the millionaires packed up and fled for friendlier locales:

Which Is Worse: Bankruptcy, or Dov Charney?

Hamilton Nolan · 04/20/11 09:17AM

Fashion pimp of trendy hose American Apparel is in mortal financial peril at the moment; it needs an infusion of cash to stave off a possible bankruptcy. Investors have the cash, and the interest in the brand; what they don't have, in all likelihood, is an interest in handing a huge pile of cash over to the sole control of Dov Charney, who—despite his unshakeable confidence in himself—is the one who got the company in this situation in the first place.

Economists Debate: Are Conflicts of Interest, You Know, Bad?

Hamilton Nolan · 04/19/11 03:07PM

One portion of the devastating documentary about the global financial collapse, Inside Job (which won an Oscar, so you have to see it), dealt with academic economists—specifically, the ways that they became financially tied to banks and other players in finance, and how that may have compromised the entire practice of economics. It even showed the heads of the economic departments at Harvard (pictured) and Columbia blithely asserting that there was no need to disclose their financial conflicts of interest in academic papers. It was sickening.

America's Most Expensive College: The Unconvincing Explanation

Hamilton Nolan · 04/14/11 11:45AM

Sarah Lawrence is America's most expensive college. It'll cost you a cool $59,000 to send your whelp there to sit shoeless on a grass lawn, becoming a lesbian. Why so pricey? The school's president has all sorts of dubious explanations.

After All That Yelling, NPR Gets Its Money

Hamilton Nolan · 04/13/11 10:10AM

NPR—and the entire public broadcasting apparatus in general—has had a bad year. The botched Juan Williams firing, followed by the botched fallout from the Juan Williams firing, followed by the dumb James O'Keefe prank pseudocontroversy, followed by the resignation of NPR's CEO, mixed with constant calls from Republicans to defund NPR, which even convinced some pinko liberals that NPR should just get off the government payroll once and for all.

New Rules For Student Debt

Hamilton Nolan · 04/12/11 11:48AM

Hey, underemployed recent college graduates struggling in the worst job market in a generation: do you have a trillion dollars? I really hope you have a trillion dollars. Because you owe a trillion dollars, in student loans.

Vice Just Got Super Rich

Hamilton Nolan · 04/05/11 10:42AM

Vice Media, the parent company of Vice magazine, VBS.tv, and other editorial ventures whose quality content is still tinged by a permanent veil of—well, you know what we mean—is now insanely rich. Are you surprised?