What a fascinating time. When you start staring at our government and its economy, you can start to feel an urge to put together a Carrie Mathison-style wall chart. Because on some level, it all starts to seem like it fits together, doesn't it?
• Here is an "explainer" about What The Federal Reserve Does. Spoiler: what the Fed has done for the last several years is literally give money for free to banks every day. Banks use that borrowed money to make money, including, even, sometimes, by loaning that money to customers. Exciting policy, am I right? "The campaign that gets all the publicity is called quantitative [...]
Under the current regime, the most effective means of sticking it to the proverbial man would in theory be for all students to simply pay off all their debts at once. But even if they could scrounge together a trillion dollars out of their collective couches just like that, there is little doubt in my mind that Sallie Mae and its student-loan-sharking brethren would simply see it as an opportunity to levy a massive prepayment penalty. The Internet is a rich trove of surreal personal accounts of being penalized for overpaying student loan bills. But no one notices, because student borrowers are so utterly powerless. They can borrow [...]
According to at least one math-doer, Americans have a total of $826.5 billion in "revolving credit"-largely credit cards. The current estimated total of outstanding student loans, both federal and private? $829.785 billion.
There are several metrics one uses to determine the success of a new venture on the web. Page views, user retention, and brand awareness are three of the most common, but there is a lesser known, and harder to quantify, indicator that suggests a new website is coming into its own: crazy emails from random strangers.
While many startups will receive their fair share of odd inbox effluvia once they've begun to attract attention, it is only sites with a serious potential for growth that attract the high-quality bizarro queries from correspondents with nonsensical sender addresses. I am happy to inform those of you who care about the health [...]