After rising strongly for many years, China’s residential property was among the most expensive in the world. After many years of rapid growth in new development, there’s now massive excess capacity. It was a gigantic bubble and… Read More »You Can’t Understand the China Property Bust Without Knowing that the Official Data Is False
Return Advantage of Stocks over Bonds Has Shrunk to Lowest in 15 Years But US Endowments’ Equity Beta Likely Highest Ever A review of the asset allocation history of the largest American endowments shows that… Read More »What, Me Worry? Endowments’ Record High Equity Risk Ignores Stock-Bond Valuations
Gee, it kinda sorta seems like Lina Khan has gotten under the skin of the WSJ Editorial Board. What is it about young female Democrats enforcing anti-trust laws for the first time in decades that… Read More »WSJ Editorial Board Loses Their Shit Over Lina Khan
I don’t usually pay much attention to quarterly GDP releases but China’s Q3 report is interesting for two reasons. One, it’s completely consistent with an economy that hasn’t meaningfully rebalanced away from a heavy reliance… Read More »China’s Economy: Still Unbalanced After All These Years – And Now Close To Recession
The nauseating saga of the Boeing 737 Max two deadly crashes in October 2018 and March 2019 is a perfect example of how American corporations are barely regulated and even when their products cause hundreds… Read More »Boeing Gets Away with Murder
Texas Governor Greg Abbott has been busy tilting at windmills. Egged on by the caveman caucus of the GOP, Abbott has been blaming wind power and green energy generally for the February blackout that made… Read More »Even Texas Oilmen Think Greg Abbott Is a Neanderthal
Below are excerpts from another great Matt Stoller piece, this one about how $2,000/hour Big Law attorneys help their clients, corporations and private equity funds, get illegal mergers approved by a formerly toothless FTC. Now,… Read More »Antitrust Lawyers Have Gotten Rich Screwing Americans. Lina Khan’s Starting To Fight Back.
By a 9-0 margin, the Supreme Court Inflicts Mortal Wounds to the NCAA Yesterday, the Supreme Court, by a gob-smacking 9-0 margin, ruled that the NCAA’s limits on education-related expense reimbursements to “student-athletes” violates anti-trust… Read More »Talented Black Athletes Should Be Paid Market Value. Everything Else is Bullsh*t
Wow, talk about getting your knickers in a twist. Joe Biden’s plan to tax capital gains as ordinary income for people making over $1 million a year really hurt the feelings of some on Wall… Read More »Claim that Cap Gains Hike Will Hurt American Prosperity Is Ridiculous
Maureen Dowd of the New York Times calls out the “experts” who say now is not the right time for the US to leave Afghanistan. My opinion is that this is the right strategic decision… Read More »US Withdrawal from Afghanistan Will Be a Bloodbath. We Should Still Leave.