North Korea used to be an industrial powerhouse. Not anymore. Today, the country can't feed its own people. Its cities go dark every night for lack of electricity.Yet helplessness wasn't the original plan. The original plan for the country's economy had a name.
Standard & Poor's just downgraded America's credit rating. This sounds portentious and world-historical, but the impact of the downgrade could be relatively minor. (Here's a news story on the downgrade; here's the full statement from S&P.)S&P downgraded the U.S. by one notch, from AAA to AA-plus.
Last weekend, a group of libertarians and anarchists gathered in the woods of northern New Hampshire for the annual Porcupine Freedom Festival, aka PorcFest.I went up for breakfast.Lucky for me, George Mandrik has brought along 150 lbs.
Jon Gnarr is an absurdist Icelandic comedian. Last year, he ran for mayor of Reykjavik. Like most absurdist comedians, he had no political experience."I just invented a new political party," he says. "I was not drunk or anything."Gnarr called his party the "Best Party."
This is the latest in a series on Iceland by Planet Money correspondent David Kestenbaum and Planet Money's Icelandic intern, Baldur Hedinsson. Here's more from their trip to Iceland.This was supposed to be the beginning of what passes for spring in Iceland.