Must Read Money Stories for Friday, Feb. 27

by February 27, 2015


Capitol Hill at it again. Our elected representatives are doing that thing again where they take a funding bill right down to the wire, risking a shutdown. This time, you may recall, the issue is the federal Department of Homeland Security. Some Republicans wanted to withhold funding as a way to stop President Obama’s new immigration policies. We’ll find out today whether DHS will have to shut down. The Hill reports the funding is likely to come through, but only as a three-week stopgap measure. Which means we aren’t done yet.

Anyone want a used electric car? The Wall Street Journal digs into the economics affecting used electric cars right now. Bottom line: no one is buying used electric cars. Low gas prices have led to lower demand overall for electric vehicles. That means carmakers are offering all kinds of deals on their new models, which comes on top of tax incentives meant to spur sales for zero-emission vehicles. So if you want an electric car, buying used doesn’t make a lot of sense right now.

A must read opinion. MIT professor Andrew McAfee writes in the Financial Times that no one really knows what’s going on in the economy right now. Things are looking kind of weird. New technology may or may not be having a huge impact on the labor market. And, if it’s not, then we’re running out of explanations for why median wages aren’t going up like they used to. You can also watch the panel discussion that inspired McAfee’s blog post at this link. It’s long, but worth your time.

This is definitely … something. It happened. We can’t pretend it didn’t happen. Last night, sometime around 8 p.m. EST, millions of people went nuts over a picture of a dress. This Buzzfeed story got more than 6 million views within 4 hours. Pick whatever angle you want: The event was the dumbest thing ever, or it marks a new case-study in how to get attention online. Either way, it definitely happened. Also, the dress is definitely black and blue, as Wired explains. All y’all white and gold people are crazy.