The Stingy News Weekly (03/13/2011)
Stingy News Flash
We're holding a Keynesian beauty contest to give away a copy of the new MoneySense Guide to Retiring Wealthy ...
"Salman Khan talks about how and why he created the remarkable Khan Academy, a carefully structured series of educational videos offering complete curricula in math and, now, other subjects. He shows the power of interactive exercises, and calls for teachers to consider flipping the traditional classroom script -- give students video lectures to watch at home, and do 'homework' in the classroom with the teacher available to help."
How state budgets are breaking
"In this fiery talk, Bill Gates says that state budgets are riddled with accounting tricks that disguise the true cost of health care and pensions and weighted with worsening deficits -- with the financing of education at the losing end."
A Red Flag On Reverse Mortgages
"It is the saddest of paradoxes: a government-backed financial maneuver intended to free up extra money for struggling older people turns out to have left some widows and widowers on the brink of foreclosure."
The Lobster Underground
"Whether as a treat for the common man or an excuse to slum it for the well-to-do, the lobster roll was never terribly hip, edgy, or controversial. Until last year, when a Brooklyn artist and chef reinvented the lobster roll as delicious underground performance art. Using the moniker Dr. Claw, the thirtysomething chef began boiling batches of lobsters in his home kitchen and using the meat in rolls he sold—without the requisite licenses and permit—in Greenpoint, a Brooklyn neighborhood populated by Polish Americans and an ever-increasing numbers of hipsters. In order to skirt the law, Claw—whose real name is widely published but whom I chose not to identify here so that he could speak freely to me—devised a system that would be the envy of even the most enterprising drug dealers on The Wire. Claw’s customers first had to friend him on Facebook. Then, if they checked out, Claw would provide the potential customer with a phone number, exchange texts when the roll was ready, and hand off the goods in a plain brown bag."
The elephant in the room
"As can be seen, entitlements and interest will absorb all government spending by 2025. But when the CBO did the same sums a decade ago, says Ms Meeker, the critical point was reached in 2060. In short, the fiscal position is deteriorating rapidly. Where then is the appetite for cutting entitlements or increasing taxes sharply?"
Made in America
"For US firms, the decision to manufacture overseas has long seemed a no-brainer. Labor costs in China and other developing nations have been so cheap that as recently as two or three years ago, anyone who refused to offshore was viewed as a dinosaur, certain to go extinct as bolder companies built the future in Asia. But stamping out products in Guangdong Province is no longer the bargain it once was, and US manufacturing is no longer as expensive. As the labor equation has balanced out, companies—particularly the small to medium-size businesses that make up the innovative guts of America’s technology industry—are taking a long, hard look at the downsides of extending their supply chains to the other side of the planet."
Tour De Gall
"Twenty minutes later, possibly under their own steam, the snails arrive. Vesuvian, they bubble and smoke in a magma of astringent garlic butter and parsley. We grasp them with the spring-loaded specula and gingerly unwind the dark gastropods, curling like dinosaur boogers. They go on and on, expanding onto the plate as if they were alien. We have to cut them in half, which is just wrong. The rule with snails is: Don’t eat one you couldn’t get up your nose."
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