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Unlike in the United States, where public housing is only for the poorest — the average resident’s annual household income was $15,219 in 2019, well below the federal poverty line of $16,910 for a family of two — the relative integration of the Gemeindebauten means that they are not stigmatized.
Lessons From a Renters’ Utopia
nytimes.com
The primary critique of VaR is that the underlying risks associated with financial markets are not as predictable as a coin flip or even a blind taste test between two beers. The false precision embedded in the models created a false sense of security. The VaR was like a faulty speedometer, which is arguably worse than no speedometer at all. If you place too much faith in the broken speedometer, you will be oblivious to other signs that your speed is unsafe. In contrast, if there is no speedometer at all, you have no choice but to look around for clues as to how fast you are really going.
Naked Statistics
Charles Wheelan
As Owen notes, the typical resident of Vermont—renowned for its commitment to environmentalist causes—consumes three and a half times as much gasoline per year as the typical resident of New York City.
Arbitrary Lines
M. Nolan Gray
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