Barron’s Is Talking Skyscraper Curse
Barron's is writing about skyscrapers and the Skyscraper Curse. They also quote me on the subject.
Barron's is writing about skyscrapers and the Skyscraper Curse. They also quote me on the subject.
Following the discovery of the Americas, Spain began a 300-year period of booms, busts, war, and mercantilism. Only in the eighteenth century did the country begin to find prosperity through liberalization of trade and private property.
More credit expansion to keep the current easy-money induced boom going is only delaying the inevitable.
Thanks to easy credit, automobiles have become very complex and luxurious, and brimming with safety features. The cost of producing these cars, however, won't keep prices from falling once the bubble bursts.
The housing bubble has been replaced by a number of new bubbles. Among them is the auto loan bubble. Car loans now last longer than ever and are going to more people with bad credit. This might not end well.
The Big Short is a pretty good movie, but there are a few things it leaves out.