Alicia P., 66, an artist, has been married to her physician husband, Chet, 68, for 42 years. The couple had long had problems with intimacy, and Alicia complained that Chet was so involved with his medical research that family came a distant second. As long as the kids were at home, Alicia thought about divorce from time to time, but …
Refinancing is dead: a generation of Hard Times will continue until secularly real wages improve
On Monday I gave what I think is a reasonable roadmap to the next recession. I wanted to follow up a little. The post from nearly 10 years ago was entitled, “Are Hard Times Near? The great decline in interest rates is ending.”  The theory is right in the title. Since the 1970s, real average hourly earnings had declined. Average Americans coped …