AJ Ericksen's Blog World

Wednesday, May 18

Consumer Debt & Utah

For Sorens (who explained to me that Utahns feel compelled to drive nice, new cars and live in big houses because since Brigham Young they have equated wealth with righteousness), I call attention to a recent Wall Street Journal Article. My friend Stephanie pointed it out to me Tuesday because it so appalled her.

I was flabbergasted that a guy making $13/hr could rack up $30,000 in credit-card debt and that he even believed he could keep up with the Joneses when the Joneses are working professionals.

Perhaps most astounding is that the median monthly mortgage payment is 45.3% of the average worker's monthly income, the fourth-highest percentage in the U.S. And Utah is a pretty cheap place to live. It is almost beyond comprehension. I often wondered how so many people could afford new homes there when so many jobs were low-paying hourly gigs; well it turns out they can't.

Tuesday, May 17

Little Person News

According to the BBC, there is a Cambodian Midget Fighting League (CMFL). In a recent fight, CMFL members squared off against an African lion--bad call. The lion mutilated all 42 fighters, killing 28, during the 12 minute fight.

Two points: (1) cock-fighting doesn't sound that cruel anymore, and (2) neither does Fox's exploitative disaster "The Littlest Groom."

[Thanks Murphy]

Saturday, May 7

It's Over

About 15 minutes ago, I walked out of my final final exam of law school. Did I do well? It is hard to say. Do I really care? No. Worst case scenario (I guess a C+), my GPA drops 0.03 points.

As a plus, the bookstore bought back my book for $45.50.

Sunday, May 1

Quote of the Day

Charles Munger's (of Berkshire Hathaway) Comment on the huge pension liabilities at GM applies equally well to Social Security and many personal situations:
Some people seem to think there's no trouble just because it hasn't happened yet. If you jump out the window at the 42nd floor and you're still doing fine as you pass the 27th floor, that doesn't mean you don't have a serious problem. I would want to address the problem right now. They'd better face it.