Money
Ricardo Arduengo/AFP/Getty Images

Island in crisis

Puerto Rico | After a hurricane and years of overspending, budget-strapped politicians in Puerto Rico are sparring with feds for a big-time bailout
by Marvin Olasky
Posted 4/12/18, 11:17 am

Strike one: Puerto Rico last May, $123 billion in debt, became the first U.S. state or territory to admit it is essentially bankrupt. Strike two: Hurricane Maria last September ravaged the island. Strike three: Early this month Puerto Rico Gov. Ricardo Rosselló rejected the plan of a federal oversight board appointed to rein in the free-spending tendencies of territorial politicians.

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Imaginechina via AP

Cashless complications

China | The popularity of mobile payments in China means some taxi drivers don’t even carry change
by June Cheng
Posted 12/06/17, 11:43 am

At the end of a cab ride in Chengdu, my driver pulled over at my destination and asked, “You using Alipay?”—referring to the ubiquitous mobile phone app. No, I explained, I only had cash. I pulled out 50 RMB ($7.50) for the 25 RMB ride. “Oh,” the taxi driver responded, surprised anyone in 2017 still used cash. “I’m so sorry, I don’t have any change.” I ended up running out to a nearby store to break my 50 (thankfully the cashier had some physical bills stashed away) and returning to pay the embarrassed driver.

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An unexpected opportunity

Money | Rediscovering the spirit of generosity
by Joel Belz
Posted 10/25/17, 04:56 pm

I’m so embarrassed. It was a basic principle of Christian stewardship—and I almost missed it! And as I’ve checked around, I sense others may be missing it as well.

To make the point, I have to tell you candidly that I’m a few years older than my wife, Carol. Which means that I became eligible for Social Security benefits a few years before she did.

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