Ever since someone in grad school deviously introduced me to the concept of “irrational” debt aversion, I have been carrying credit-card balances that are far too high. Believe me, I understand the tricks these companies pull, like the clause in fine print where you unwittingly pledged away your firstborn.
Having grown up near a rain forest on Washington’s Olympic Peninsula, with friends I have visited during “monsoon seasons” in Florida and elsewhere, I’ve seen rain before, and even have some idea of what to do when it happens.
Not the U.S., but Japan. Japan Airlines, after repeated bailouts, finally succumbed to its $25 billion debt load and filed for bankruptcy today. According to The Wall Street Journal:
Now that we have our warehouse move complete, we can finally announce that appearance of a book I’ve been wildly excited for ever since the project began. It is Literature and Economic Liberty: Spontaneous Order in Culture, edited by Paul Cantor and Stephen Cox.
Opposition to the importation of Polish hams has been defended on the grounds that it is immoral to trade with thieves or receivers of stolen merchandise — a description that fits the Polish government. It also fits the US government.
