Finance

NAR: Existing-Home Sales Increased to 4.58 million SAAR in February; Median Prices Declined YoY

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by Calculated Risk on 3/21/2023 10:49:00 AM Today, in the CalculatedRisk Real Estate Newsletter: NAR: Existing-Home Sales Increased to 4.58 million SAAR in February; Median Prices Declined YoYExcerpt: On prices, the NAR reported: The median existing-home price for all housing types…

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“If We Again See Deflation Ahead, It Requires Fiscal AND Monetary Fusion”

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By Michael Every of RabobankShulman, Nosov, Tyulakov, Watford, Melnikov, Avayev, Protosenya, Krukovsky, Subbotin, Voronov, Rapoport, Maganov, Pechorin, Sungorkin, Gerashchenko, Pchelnikov, Petrunin, Mushegian, Taran, Makei, Kochenov, Zelenov, Bidenov, Buzakov, Antov, Maslov, Abdulaev, Pawochka, Makarov, Yankina, Rovneiko. The list of prominent Russians who…

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Yellen To Reassure World That “Treasury Is Committed” To Bailing Out Regional Bank Depositors

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Watch Treasury Secretary Janet Yellen will address bank leaders from across the country at the American Bankers Association's annual Washington Summit (due to start at 1000ET):  Read Yellen's prepared remarks below: (emphasis ours)Good morning, everyone. Thank you, Rob, for your leadership of…

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Transcript: Cliff Asness

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The transcript from this week’s, MiB: Cliff Asness, AQR, is below. You can stream and download our full conversation, including any podcast extras, on iTunes, Spotify, Stitcher, Google, YouTube, and Bloomberg. All of our earlier podcasts on your favorite pod hosts…

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Time Passages

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Here’s an interesting idea it wouldn’t have occured to me to ask. What is the length of time described in the average 250 words of narration and how has this changed over time? Most famously James Joyce’s “Ulysses” is a long…

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Links 3/21/2023

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18 Inappropriate Logos Buzzfeed (Chuck L) Fan poops in aisle near Hillary and Chelsea Clinton at Broadway show Page Six (BC) ‘Picasso the Foreigner’ Review: An Outsider in Paris Wall Street Journal. Anthony L: “Worth it for the picture.” ‘That scares…

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Auto-Loan Denials Hit Six-Year High As Distress Cycle Shifts Into Gear

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The Federal Reserve has managed to aggressively raise interest rates and tighten financial conditions so much that it sparked a regional banking crisis and unleashed contagion in European banks. Even before the banking meltdown, financial conditions were tight, pressuring subprime consumers…

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Complexity and time

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We provide experimental evidence that core intertemporal choice anomalies — including extreme short-run impatience, structural estimates of present bias, hyperbolicity and transitivity violations — are driven by complexity rather than time or risk preferences. First, all anomalies also arise in structurally…

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North Korea Claims 1.4 Million People Just Enlisted To Fight ‘Imperialist’ US

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North Korean state media has been touting new claims of mass enlistments amid "an atmosphere of war" and urgent defense preparedness in response to ongoing joint US-South Korea drills, which are the largest in five years.The state-run Korean Central News Agency (KCNA) initially…

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Too Wrong To Fail

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Authored by Thomas McArdle via The Epoch Times,As the old saw goes, a banker is someone who lends you his umbrella when the sun is shining and then wants it back as soon as the first drops of rain fall.Hostility toward…

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Americans To Bear Burden Of Monetary System’s Gradual Deterioration, Economist Says

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Authored by Petr Svab via The Epoch Times (emphasis ours),Ordinary Americans can expect their wealth to get repeatedly chipped away as the monetary system degrades and requires progressively more intervention by authorities to perpetuate itself, according to an influential author and…

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Socialism Isn’t About Creating Economies. It Is About Amassing Political Power

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Authored by Ovidiu Tanjala via The Mises Institute,Ludwig von Mises wrote Socialism: An Economic and Sociological Analysis, a small book published in 1922, which demonstrated that economic calculation in a socialist commonwealth is impossible. Of course, Mises assumed that the purpose of an economy,…

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“I Couldn’t Remain Silent”: Physician Assistant Fired For Reporting COVID-19 Vaccine Adverse Events To VAERS

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Authored by Matt McGregor via The Epoch Times (emphasis ours),For her efforts to report injuries to the Vaccine Adverse Events Reporting System (VAERS) and to educate others in her hospital system on doing the same, Physician Assistant Deborah Conrad said she…

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California Hospital Refuses Transplant Surgery For Unvaccinated Woman With End-Stage Kidney Disease

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Authored by Allan Stein via The Epoch Times (emphasis ours),Even on a good day, Linda Garinger of Ramona, California, thinks about dying.Linda Garinger (L), who has end-stage kidney disease, and her daughter Emily Lewis read the letter from a hospital denying…

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16 Terrorists On FBI Watchlist Crossed Southern Border In February Alone; CBP Data Shows

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Authored by Steve Watson via Summit News,Fresh data from Customs and Border Protection has revealed that sixteen people matched to the FBI’s terrorist watchlist were apprehended by Border Patrol agents in February alone.As reported by Fox News, the total number of individuals…

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MBA Survey: “Share of Mortgage Loans in Forbearance Decreases to 0.60% in February”

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by Calculated Risk on 3/20/2023 05:10:00 PM From the MBA: Share of Mortgage Loans in Forbearance Decreases to 0.60% in February The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance decreased…

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