Weekend Reading – Money Stories Worth A Look

Financial wake-up call Why Economists Are Jittery about the Stock Market: “What’s been happening in financial markets over the past few days is something that truly scares monetary economists: liquidity has dried up. That is, markets in stuff that is normally traded all the time — in particular, financial instruments backed by home mortgages — have shut down because there are no buyers…And here’s the truly scary thing about liquidity crises: it’s very hard for policy makers to do anything about them.”

College Will Kill Your Entrepreneurial Spirit While Simultaneously Turning You into a Worker Bee: “Despite what your guidance counselor may tell you, college does not turn people into free thinking individuals who will someday have the whole world at their feet. It turns them into worker bees that will spend their lives in cubicles just so long as they get 2 weeks paid vacation time per year.”

America is taxing for all but the very rich: “Some of the biggest stories of the last few weeks have been about the great tax dodges by the financial kings of the hedge fund and private equity world. Investment managers making upward of a $1-billion a year are paying lower tax rates than the people who teach their children or deliver their mail.”

The ATM in the Church Lobby: “Automatic checking account withdrawals are used by some churches, and more recently, ATM-like kiosks are now available in many church corridors and lobbies, where parishioners can swipe a card and receive a printed receipt, which they can either save for the IRS or plunk into the collection basket with a flourish, so pew mates will know they’re not spiritual freeloaders.”

And for those who need some more reading this weekend, some carnivals to take a look at:

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