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Thursday, 24-Nov-2011 21:58 Email | Share | | Bookmark
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And 17 years later I did go to college. But I naively chose a college that was almost as expensive as Stanford, and all of my working-class parents' savings were being spent on my college tuition. After six months, I couldn't see the value in it. I had no idea what I wanted to do with my life and no idea how college was going to help me figure it out. And here I was spending all of the money my parents had saved their entire life. So I decided to drop out and trust that it would all work out OK. It was pretty scary at the time, but looking back it was one of the best decisions I ever made. The minute I dropped out I could stop taking the required classes that didn't interest me, and begin dropping in on the ones that looked interesting.


Thursday, 24-Nov-2011 21:57 Email | Share | | Bookmark
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PIMCO's Mohamed El-Erian said the loss of America's triple-A rating means "things will be different" because the global financial system was "built on the assumption of AAA at its core." U.S. creditors have a right to be "nervous," he said, suggesting the downgrade will prompt sovereign wealth funds (like China's) to seek diversification away from Treasuries. (On a related note, I can't help think the loss of AAA is the latest step toward the dollar losing its reserve status, albeit not imminently thanks to Europe's implosion and a lack of other alternatives.)


Wednesday, 23-Nov-2011 13:27 Email | Share | | Bookmark
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Wednesday, 23-Nov-2011 13:24 Email | Share | | Bookmark
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