For the Wall Street sequel , the subtitle was Money Never Sleeps . But the Oliver Stone reprisal of Gordon Gecko was the stuff of 2010. In America, a decade plus ago, money slept. Now, it truly doesn’t, with cryptocurrency prices gyrating 24/7/365. This frantic activity has spread to other asset markets. Once real estate was stable and slow
It’s hard to crack the headlines of the financial pages, what with GameStop, bitcoin, Tesla, and squeezes of one sort or another. There is a squeeze in commercial real estate that won’t shock anyone, or shouldn’t. That squeeze is tenants unable to pay owners and owners unable to pay lenders. It’s possible the pandemic will fizzle, someone will
Listen to the Audio Mises Wire version of this article. Summerlin, the suburb of west Las Vegas creeping ever closer to the mountains, looks to be crowded with fully paved streets, streetlights, block walls, and blue top lots. With lumber, labor, and other materials in short supply, home construction can’t keep up. However, Ali Wolf, chief
The very size and scope of the United States federal government is likely something that Ludwig von Mises could not have imagined, despite writing the book which foretold the results of such a behemoth, Bureaucracy . Early on Mises wrote, “Congress has in many instances surrendered the function of legislation to government agencies and
After ninety-nine years in business, Yellow, one of the nation’s biggest trucking companies, shut down. The company has more than twelve thousand trucks and employed thirty thousand, with twenty-two thousand of those jobs held by Teamsters. If you are a taxpayer, you know all this, your government being a 29.6 percent shareholder of Yellow and
Bloomberg uses the price of a certain bike, the Santa Cruz Hightower C R, to make the case that price inflation is upon us. This bike will set you back $4,749, a 10 percent leap from the first of the year. By the way, I have three bikes for sale on OfferUp, each priced at less than 10 percent of the fancy Hightower. No one even wants to negotiate.
The nation’s billionaires are catching plenty of grief for profiting from the pandemic. All they are guilty of is providing services people wish to pay for. Nothing wrong with that. Then there are the mortgage companies. It turns out they are turning a good profit off Uncle Sam’s forced forbearance plan. Ben Eisen writes for the Wall Street
While Americans angrily grit their teeth while filling their gas tanks, the very first United States special presidential envoy for climate said: This year, we have to implement those promises and what it means is that we have to decarbonize the power sector five times faster than we are right now. We have to deploy renewables five times faster
The average card-carrying Austrian would say that the Federal Reserve is creating money by the bale, with evidence being Consumer Price Index prints of 8.6 percent per the Bureau of Labor Statistics or over 15 percent per John Williams’s shadowstats.com computation based on the way the government calculated CPI back in 1980. Surely, at best, the
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