Archive | 23:37
“What about a 1BR, 1.5 bath condo in the complex in Deerfield Beach, Florida (near Ft. Lauderdale) for just $25k (details here)? About the same price as a Toyota Camry LE ($26k MSRP) – choose from 25 other Deerfield Beach condos for $28k or less; starting at $19,5k.
- You’ll probably never get a better deal on U.S. real estate than right now, especially with mortgage rates at historical lows. So if you’ve been thinking about a Florida condo, vacation home, rental property, or a first home, now’s the time – everything’s on sale.” HT: Mark J. Perry @Carpe Diem.
“Transactions taking place outside the taxable and observable official economy captured by GDP numbers are increasing for the first time in a decade.”
You find the details in The Economist here.
Yet another religious lawsuit:
“Hundreds of Irish nuns are alleging in a lawsuit that Morgan Stanley failed to properly dispose of “so-called Hybrid Structured euro constant maturity swap notes,” causing losses of at least $6.4 million.”
Read the rest of the Fox news article here.
Seeking Alpha: Friday the 13th to Save the Week?
BusinessWeek: Business School Applications Sputter.
The Big Picture: Bailout States & Municipalities.
Forbes: How To Profit From Deflation.
ChessBase News: Men play chess more aggressively against female opponents.
The Wall Street Journal: Porsche Takes A Step Into Green.
MarketWatch: An influential technology analyst says Apple should start returning some of its massive cash hoard to shareholders, ideally through a dividend. The following chart shows the total cash equivalents:
“The effect of an inheritance tax is simply to drive us out of the things that we know will be taxed when we die. That includes a lot of productive investments, that could be growing wealth for ourselves, our children and our fellow citizens. A report for the Adam Smith Institute some years ago found that, for as long as inheritance taxes – or death duties, or whatever they were called – existed, their yield to the nation as a whole had been negative, because they drive people into less productive ways of using their money, but leave them more to give their children. It’s an unjust and counterproductive system. Inheritance tax should go.”
Read the full article from Adam Smith Insitute: We should scrap inheritance tax.
“Because of that debt level, bank profits have gone through the roof as a share of GDP. Back before we had a financial crisis—when debt levels were far lower than today—so too were bank profits as a share of GDP. A sustainable level of bank profits appears to be about 1% of GDP.”
Read the rest of Steve Keen’s comments the graphs: Bank Profits a sign of economic sickness, not health.
Looks Stunning – The new weekly edition of The Economist is now available to read on the Economist Website!
“Car theft is a man’s world, according to a new paper by Christopher W. Mullins and Michael G. Cherbonneau. Car thieves face two big tasks: stealing the car and selling it. Both male and female thieves are mentored by more experienced thieves in much the same way; however, men have an advantage when it’s time to sell the stolen goods. “They are more connected to a social network of criminals that provides access to chop shops, where the cars can be dismantled and sold for parts,” reports Tom Bartlett.” Go to the latest Freakonomics post here: Why Car Thieves Are Male.
The Most-Stolen Cars - Forbes.com (Guess What: US Car Thieves Also Have Bad Taste (!))
The Financial Times: North Korea offers ginseng to pay Czech debt.
SmartMoney: 3 Companies Whose Margins Doubled.
The Guardian: Youth Unemployment Hits Record High.
For those of you familiar with technichal analysis: Is the economy forming a Head And Shoulders Pattern? Have the markets been blowing a gigantic bubble heavily supported by the Federal printing press? The answer is yes. Will the government still fight deflation and support wasteful stimulus? Yes. We do not know how long we kan postpone another dip – the magnitude of any cycle is uncertain. Therefore – stay informed: The economists are continuously contraditing each other and you will proably learn lots if you follow both theory and reality (I sure do – enjoy the debate!) The only sure thing is to not go overweight in equity before this mess settles. Found the graph @Bradford De Long – Grasping Reality With Both Hands. Great resource for undergraduate students of economics btw.
“The bull market is as vast and powerful as the baby boomer generation, and the two are inextricable. The 80 million or so boomers–those born between 1946 and 1964–are hitting their peak earning, spending, and investing years, and that’s what’s driving the economy’s incredible performance and the stock market’s spectacular returns. His target for the Dow is 40,000–which he believes it will hit somewhere around 2008.
After that, watch out. As an economic force, the boomers will have peaked, and there just aren’t enough Generation Xers to sustain the economic and stock market boom. Even the revolutionary changes wrought by the rapid growth of the Internet don’t change that. In Dent’s view, the economy goes into a deflationary funk for another 10 or so years, until the boomers’ children–the 83 million ”echo baby boom” generation–reach their economic prime.”
For full blog post: Aleks Jakulin @Statistical Modeling, Causal Inference, and Social Science.
BusinessWeek: Most High Earners Wouldn’t Get Tax Hit.
MarketWatch: Worst day in Weeks.
Reuters: America’s Fast-Fading Recovery.
The Wall Street Journal: Pras on Why He’s Endorsing Wyclef’s Rival for President of Haiti.