Daniel Klotz

In rough economic times, the apparition of class-based angst puts a damper on bling. It’s one thing to show off your wealth when upward mobility is running strong; it’s another to do so when tens of thousands are losing their jobs and sliding into poverty. That gives us a unique cultural situation. People with money [...]

The current recession will undoubtedly continue into 2009, perhaps bottoming out before summer and then resuming slow growth in the second half of the year. Central Pennsylvania in general, and Lancaster in particular, will be rife with problems. But, there will also be surprising stability that many other areas of the country lacks. Part of [...]

“When it gets rough out there, a lot of business leaders get out of the car and say, ‘We’re OK with minor reform,’” Rahm Emanuel, Obama’s appointed chief of staff, recently told The Wall Street Journal’s CEO Council. “I’m challenging you today, we’re going to have to do big, serious things.” I agree with Emanuel. [...]

Yesterday Tom Friedman of the New York Times wrote that in this credit crunch that is hurting the economy, no one is an island: Well, you say, “I don’t own any stocks — let those greedy monsters on Wall Street suffer.” You may not own any stocks, but your pension fund owned some Lehman Brothers [...]