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Seeking investments without using the ridiculous style-box approach. If I can make a return in excess of what I judge the risk to be, I'll invest. Over time, using a Kelly formula, I tend to weight positions from 2-10%. A diversified portfolio is a career-saving move, not an investment... More
  • Paul Krugman Declares Personal Bankruptcy 2 comments
    Mar 7, 2013 4:15 PM

    Paul Krugman Declares Personal Bankruptcy

    "Economist and columnist Paul Krugman declared personal bankruptcy today following a failed attempt to spend his way out of debt.

    In a Chapter 13 filing to the United States Bankruptcy Court in the Southern District of New York, lawyers for Krugman listed $7,346,000 in debts versus $33,000 in assets.

    Rather than tighten his belt and pay the sums back, the pseudo-Keynesian economist decided to "stimulate" his way to a personal recovery by investing in expenses he hoped would one day boost his income."

    ROTFL!

    AT.

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Comments (3)
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  • Reality Check 2
    , contributor
    Comments (3) | Send Message
     
    It appears this may just be a widely re-posted satire article, and not really news at all, when I first read it the debt to assets ratio looked wrong.
    8 Mar 2013, 10:53 AM Reply Like
  • arbtrader
    , contributor
    Comments (251) | Send Message
     
    Author’s reply » yes, it is pure satire. A logical extrapolation of his 'spend your way to prosperity' mantra.
    8 Mar 2013, 02:46 PM Reply Like
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