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I Bought an RV!

A short while I ago, as an aside, I mentioned that I might be buying an RV to live in. It seemed like a good idea, so every day I checked ebay to see what sorts of deals were to be had. I wasn't ready to buy, but I figured it would be good to know what's available for when the condo sold.

I sat in my living room chatting with some friends on AIM when one of them brought up the RV idea. While I explained it to them I opened up ebay. By default it shows the most recently listed RVs on top. The very top one was an R-Vision Trail Lite, one of the few models I'd really liked. I glanced over at the price and it was $14,000, less than half of what they usually go for. There must be something wrong with it.

I opened the listing and read through the description. The front "shotgun" seat was missing. No big deal. They'd backed into something and the fiberglass around the tail light was cracked. No big deal. The couch wasn't the one specifically made for the RV. No big deal.

Would a Big Bucket of Cash Really Change Your Life?

On The Lottery

A fundamental question faced by policymakers around the world is how best to help individuals who are in financial trouble. The ticket to Easy street? The financial consequences of winning the Lottery paper examines the consequences of the most basic approach: giving people large cash transfers. To determine whether this prevents or merely postpones bankruptcy, they exploit a unique dataset of Florida Lottery winners linked to bankruptcy records. Results show that although recipients of $50,000 to $150,000 are 50 percent less likely to file for bankruptcy in

the two years after winning relative to small winners, they are equally more likely to file three to five years afterward. Furthermore, bankruptcy records indicate that even though the median winner of a large cash prize could have paid off all of his unsecured debt or increased equity in new or existing assets, he chose not to do either. Consequently, although we cannot be sure other recipients of financial assistance would react in the same way lottery players did, our results do suggest that some skepticism regarding the long-term effect of cash transfers may be warranted.

Some examples:

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