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Thursday, August 4, 2011

Today in Slate: Would Cutting the Military Budget Threaten Our Security? Plus, Simon Doonan Thinks You Should Watch Celebrity Rehab

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Today: August 4, 2011

Would Cutting the Military Budget Threaten Our Security?

Would Cutting the Military Budget Threaten Our Security?

It depends how we define our priorities.

By Fred Kaplan

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Obama at 50: Older, Wiser ... Happier?

Obama at 50: Older, Wiser ... Happier?

How the study of happiness is changing our understanding of aging.

By Libby Copeland

READ FULL STORY | More Double X

My PC Needs ESP

My PC Needs ESP

Google's Instant Pages and the joys of a computer that can read your mind.

By Farhad Manjoo

READ FULL STORY | More Business and Tech

You Know the Economy Is Bad When Shoppers Can No Longer Afford Dollar Stores

You Know the Economy Is Bad When Shoppers Can No Longer Afford Dollar Stores

How Jeff Bezos Has Made Amazon a Powerhouse at Everything

How Jeff Bezos Has Made Amazon a Powerhouse at Everything

Chinese People's Favorite Stereotypes About Chinese People

Chinese People's Favorite Stereotypes About Chinese People

The Government Is Closing the Most Beautiful Staircases in Washington

The Government Is Closing the Most Beautiful Staircases in Washington

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Dear Prudence: Take My Wife, Please

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dear prudence
Take My Wife, Please
I convinced her to bed another man, and now I'm insanely jealous.
By Emily Yoffe
Posted Thursday, Aug. 4, 2011, at 7:24 AM ET

Get Dear Prudence delivered to your inbox each week; click here to sign up. Please send your questions for publication to prudence@slate.com. (Questions may be edited.)

Got a burning question for Prudie? She'll be online at Washingtonpost.com to chat with readers each Monday at 1 p.m. Submit your questions and comments here before or during the live discussion.

To continue reading, click here.

Emily Yoffe is the author of What the Dog Did: Tales From a Formerly Reluctant Dog Owner. You can send your Dear Prudence questions for publication to prudence@slate.com. (Questions may be edited.)

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Moneybox: "They Used To Cane Each Other and Have Duels"

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politics
"They Used To Cane Each Other and Have Duels"
Nancy Pelosi riffs on the debt deal, the nihilist GOP, and the fights Congress used to have.
By Annie Lowrey
Posted Thursday, Aug. 4, 2011, at 5:46 PM ET

Nancy Pelosi. Click image to expand.House Minority Leader Nancy Pelosi sways and chatters, as animated as the other congressional leaders are stolid. She waves her bangle-adorned hands. She grins whenever she pauses to take a breath. Every question gets a minutes-long, ranging disquisition. This morning, sitting in a cream suit in her airy cream office in the Capitol, Pelosi spoke with a group of reporters for more than an hour about the current crummy economic situation and crummier Congress. She smiled. But that hardly hid her voluble frustration.

Her points were these: She is deeply dissatisfied with the debt deal and the deficit-reducing supercommittee it creates. She believes Republicans are essentially political nihilists, and she has plans to prevent them from winning again. And she is intensely focused on jobs and growth.

To continue reading, click here.

Annie Lowrey reports on economics and business for Slate. Previously, she worked as a staff writer for the Washington Independent and on the editorial staffs of Foreign Policy and The New Yorker. Her e-mail is annie.lowrey@slate.com.

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Where the Romney Campaign's Mystery Money Is Coming From


You Know the Economy Is Bad When Shoppers Can No Longer Afford To Go to Dollar Stores


How Jeff Bezos Has Made Amazon a Powerhouse at Everything

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Sports Nut: Plenty of Good Seats Still Available

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Plenty of Good Seats Still Available
The collapse of the sports ticket bubble.
By Neil deMause
Posted Thursday, Aug. 4, 2011, at 10:06 AM ET

Illustration by Robert Neubecker. Click image to expand.A few months ago, it seemed like Major League Baseball was in the throes of a ticket apocalypse. Through the first two weeks of the season, six teams had set all-time single-game lows at their current homes. The surprising Cleveland Indians led the American League Central in the standings, but remained in the cellar at the turnstiles. The New York Yankees, whose ultrapricey new stadium has been beset by empty seats since it opened in 2009, hosted record-low crowds for four games in a row. It was as if fans, having quietly absorbed more than a decade of price hikes and the advent of $9 beers, had spontaneously decided to go on strike.

Ticket sales have improved since--overall attendance is now roughly flat year over year. Even so, there's a good chance this will mark the fourth straight year that Major League Baseball has seen ticket sales slide after a record year in 2007. You can't blame it on steroids, either. NFL, NBA, and NHL attendance have likewise dipped over the last three years.

To continue reading, click here.

Neil deMause is co-author of the book Field of Schemes and runs the stadium-news site fieldofschemes.com.

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Also In Slate

Where the Romney Campaign's Mystery Money Is Coming From


You Know the Economy Is Bad When Shoppers Can No Longer Afford To Go to Dollar Stores


How Jeff Bezos Has Made Amazon a Powerhouse at Everything

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The Haunting TOPIX Chart We Can't Let Go Of


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Thursday, August 4, 2011
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The Haunting TOPIX Chart We Can't Let Go Of

Politicians like to compare America to Greece, but in reality the TOPIX, with its long, deflationary slog is our best historical analogy.

A chart we've run before, but which seems particularly relevant, is the above chart from Morgan Stanley, which shows the TOPIX -- post bubble -- responding to various stimuli and counter-stimuli.

The basic lesson: throughout the long bear market, stocks always popped after fiscal and monetary stimulus, and worsened when policy makers did the opposite.

Given how this market has coincided with a move towards de-stimulus (the debt ceiling/fiscal consolidation deal) we can't help but think this is playing out again here. Read »


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