What We’re Reading, 3/21/2012
Every day, we round-up the staff’s favorite financial, economic and political stories. On their radars as they came in this morning: Buffett’s bets, home ownership, and how food trucks impact the economy.
“Buffett Seizes Lead in Bet on Stocks Beating Hedge Funds,” by Katherine Burton (Bloomberg). It’s a bet only Buffett could make, says copy editor Liz Whitehouse: In 2008, Buffett bet $1 million that stocks would outperform hedge funds over a decade. So far he’s winning. “So that’s how the super-rich bet,” quips Liz. “When you have Warren Buffett’s knowledge of the stock market, why not?” To say nothing of his billions …
“Employers Ask Job Seekers for Facebook Passwords,” by Manuel Valdes and Shannon McFarland (AP). We’re still reeling from this story, which dropped yesterday: Some employers now want to see even private and password-protected social media accounts, which law professor Orin Kerr calls “an egregious privacy violation.”
“How The Other Half Saves: Financial Planning on $2 a Day,” by Derek Thompson (The Atlantic). The typical Chinese family saves 30% of its income; the typical Indian family saves 15%. Thompson looks at how the world’s poor manage to save so much more than we do.
“Home Buying Much Cheaper than Renting,” by Les Christie (CNN Money). New data from Trulia finds that buying is cheaper than renting in 98 of the top 100 housing markets. We’re reminded of the recent Planet Money episode on the 12-year-old who bought her own house.
“Unemployment Rises for Afghanistan and Iraq Era Veterans,” by David Lerman (Bloomberg). Reporter Neema Roshania sent us this sobering read. “It’s a reminder that while the nationwide drop in the unemployment rate is certainly good news, we still have a lot of work left to do to ensure veterans are being extended the same opportunities,” she says.
“Why We Need Food Trucks in a Recession,” by Nona Willis Aronowitz (Good). While restaurant-owners in several cities have criticized food trucks for hurting business, Aronowitz has another take: they’re “softening the blow of our economic reality” by providing cheap food and entrepreneurial opportunity, she writes.
“Leftovers: Tasty or Trash?” By Sarah Nassauer (The Wall Street Journal). We like this useful lifestyle bit from WSJ, and not just because your friendly curator recently got food poisoning from a leftover sandwich. “The average U.S. family of four spends $500 to $2,000 a year on food they never eat,” points out social media manager Amanda Lilly.
What are you reading today?