Apartment Bridge Loans Are Collapsing

Stoked by ultra-loose monetary policy from the Federal Reserve, capital markets have been in a persistent bubble for several years. Printing trillions of new dollars and maintaining a zero-interest rate policy (“ZIRP”) was marketed by politicians and bureaucrats as supportive of the “main street economy,” but those trillions were directed primarily towards speculation in capital markets. 

Jarod Werner is a recent graduate from Eastern Connecticut State University, where he received his BA in Political Sc

Hayek Explains Emergency Powers

In this morning’s Mises Wire article, I mentioned that the true nature of the ruling class tends to be revealed in times of emergency. Moreover, it is during declared “emergencies” that it becomes clear that ordinary constitutional limits on state powers—such as the much touted “balance of powers” tend to do little to actually restrain regime power. 

The Paramedic who Helped Police Kill Elijah McClain Is Sentenced to Five Years

On Monday, Aurora, Colorado paramedic Peter Cichuniec was sentenced to five years in prison (for criminally negligent homicide) for his part in the killing of Elijah McClain. 

McClain was an Aurora resident who had been walking home on the night of August 24, 2019. After police received a call about an unarmed person who looked “sketchy,” police stopped and confronted McClain. 

Krugman: Low Unemployment Causes Inflation, Not Monetary Expansion

In an article in the New York Times on March 27, 2018, Paul Krugman argues that economists who believe increases in money supply cause inflation are wrong. According to Krugman, the key factor that sets inflation in motion is unemployment. While a decline in the unemployment rate is associated with an increase in the rate of inflation, an upsurge in the unemployment rate is associated with a decline in the rate of inflation.

Bailing Out For A Buck

Further evidence of the crash in office property values comes from news that the Canadian Pension Plan Investment Board (CPPIB) with $436.9 billion in capital sold its 29% stake in Manhattan’s 360 Park Avenue South for $1 to its partner Boston Properties Inc., which agreed to assume CPPIC’s share of the property’s debt.