The Housing Bust Will Take Longer This Time
Let’s start by sketching out a rough spectrum of the pandemic’s impact on major industries. At the hellish end of this spectrum is hospitality, where
Let’s start by sketching out a rough spectrum of the pandemic’s impact on major industries. At the hellish end of this spectrum is hospitality, where
Looks like we just hit an inflection point. So far this morning: U.S. new home sales drop to more than 2-1/2-year low (Reuters) – Sales
Towards the end of economic expansions, interest rates usually start to rise as strong loan demand bumps up against central bank tightening. At first the
After an epic (generation-spanning at the long end) decline in interest rates, the trend has finally reversed. Which means, if history is still a reliable
US growth, such as it is, has lately been driven by a handful of hot sectors. Car sales have set records, high-end real estate is
US factory orders tanked again this morning, and were generally reported that way at first. To take just a few of the low-lights: Factory orders
With US QE about to end, the rest of the world faced the prospect of another “taper tantrum” financial crisis, one that this time around
In his book The Postcatastrophe Economy, iTulip’s Eric Janszen notes that financial bubbles don’t repeat. That is, yesterday’s bubble is never tomorrow’s because hot money
It’s not easy being a mainstream economist. You spend your life building models that become your professional identity. And when those models fail to describe
They say that one sign of creeping old age is that memories from past decades are more vivid than those from past days or weeks.
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