The SPDR S&P Homebuilders ETF closed the other day at 45.65 , poking higher than February 2006’s 44.70. The conventional wisdom is: “Teamed with a resilient job market, low mortgage rates have helped boost home buyer demand,” Matthew Speakman, an economist at real estate data provider Zillow, told CNBC . “An extreme shortage of for-sale listings,
The year 2006 seems like a lifetime ago. The housing boom seemed to be going full throttle, but danger lurked. I wrote on LewRockwell.com in March of that year, concerning a Las Vegas real estate seminar, that “nary a discouraging word was spoken.” But despite the happy talk coming from the podium that day, pleasing the thirteen hundred attendees,
“Russia, Russia, Russia,” the current president used to sarcastically chastise opponents for wondering about 2016 election tinkering from Putin’s principality. Recent MAGA rallies featured “Covid, covid, covid,” with President Trump complaining that the press could think of nothing else. In investmentland, it’s “Bitcoin, bitcoin, bitcoin,” again
Listen to the Audio Mises Wire version of this article. While the economic storm caused by COVID-19 has seemed to wane (temporarily?), the stock market can’t seem to go but one direction—up. Graham and Dodd’s meaty 700-page Security Analysis has soared to number 7695 on the Amazon best-seller list. According to Warren Buffett, the book is “A
Make the money cheap enough and government intrusive enough, and incongruous headlines appear side by side. For instance, from the Las Vegas Review-Journal comes this head-scratcher: “Las Vegas Housing Market ‘on Fire’ as Economy Limps Along.” Almost Daily Grant’s reminds us the Federal Reserve is on the job 24/7/365, There’s more where that
President Trump has said often that he had “created the greatest economy the world has ever seen, until the China virus came.” Maybe some people believe that, but if the economy was so great why did the Fed keep interest rates at zero and its balance sheet at $4 trillion? The president is bragging about the third quarter GDP bump; however, as
Listen to the Audio Mises Wire version of this article. “This place is amazing,” gambler Steve Rogers from Tuscon told the Las Vegas Review-Journal . “If you’re into sports, this place is like Disneyland. That’s a wall of TV right there. I didn’t expect it to be this big.” The “wall” Rogers refers to is the new Circa casino’s three-story, 78
Un debate en curso se refiere a la caída en picado del rendimiento de los bonos del Tesoro a cuatro semanas en relación con el rendimiento del Tesoro a tres meses. Al menos un tuitero afirma que todo tiene que ver con el inminente enfrentamiento por el techo de la deuda, ya que la diferencia de tipos (3,145% frente a 5,070%) refleja el riesgo de
Charlie Munger define la vieja escuela. Este hombre de 97 años es socio de Warren Buffett en Berkshire Hathaway. Ha vivido e invertido durante unos cuantos auges y caídas en su casi siglo de vida. En declaraciones al Sohn conference en Sidney (Australia), Munger dijo: «Considero que esta era es aún más loca que la de las puntocom». Hablando de las
Es difícil romper los titulares de las páginas financieras, con GameStop, bitcoin, Tesla, y apretones de un tipo u otro. En los bienes inmobiliarios comerciales hay una crisis que no sorprende a nadie, o no debería hacerlo. Se trata de los inquilinos que no pueden pagar a los propietarios y de los propietarios que no pueden pagar a los
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The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.