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Rentier state needs more informed renters

The New Yorker is so in the toilet now [Hi, Hendryk! waves]. Anyhow, this caught my eye, because Economist's View linked to it. James Surowiecki:

The point isn’t to turn the average American into Warren Buffett but to help people avoid disasters and day-to-day choices that eat away at their bank accounts. The difference between knowing a little about your finances and knowing nothing can amount to hundreds of thousands of dollars over a lifetime. And, as the past ten years have shown us, the cost to society can be far greater than that.*

Translation: Don't think about rent as rent, just get a better deal. Why read the New Yorker, when you can just read Yahoo Finance?

Why not turn the banks into regulated public utilities, and control the rent seeking behavior? That's what North Dakota did. That's the kind of question that the New Yorker of old would have asked. Alas.

NOTE * What a steaming load of crap. The economy crashed because the banksters created a humongous bubble through accounting control fraud, and then looted it. It didn't crash because some poor schlubs got more screwed on their credit card statements instead of less.

UPDATE Of course, the upside is that some "creative class" assholes can suck down some funding for training some "small people." Cloud, meet silver lining.

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