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Bankruptcy
The WSJ again wrings its hands over our struggling 1%
The WSJ again wrings its hands over our struggling 1%

In the latest example of a curious journalistic genre--the pain and suffering of the 1%--the Wall Street Journal asks us this weekend to commiserate with six-figure income-earners facing bankruptcy. "Some high earners end up leading a lifestyle they can barely afford, saving little or nothing for retirement and living paycheck to paycheck," the article says.  It quotes a bankruptcy attorney in tony Southfield, Mich., saying, "Some people you wouldn't expect are teetering on the edge of bankruptcy." The article's theme is that even rich people can live beyond their means. Not really news. What's insidious about reporting like this is that it...

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