Finance
By Tsvetana Paraskova of OilPrice.comOil demand in China, the world’s top crude importer, could peak as early as next year as the penetration of electric vehicles and LNG trucks is accelerating, state-owned China National Petroleum Corporation (CNPC) said on Tuesday.At this…
Americans, hit by inflation, higher interest rates, and supply-chain issues, are buying fewer new vehicles. The four-year average for annual sales is now 15.5 million, down from 17.7 million pre-pandemic, per the Bureau of Economic Analysis.The slowdown in new car sales…
Authored by Allan Stein via The Epoch Times (emphasis ours),A property manager in Phoenix says that dealing with itinerant “squatters” is one of the least pleasant parts of the real estate business.Sometimes, you can’t control what happens, Calvin Favata with Your…
Manhattan District Attorney Alvin Bragg - who had a Biden DOJ plant in his legal case against former President Donald Trump - is trying to ensure his hush money case doesn’t vanish into thin air as Trump prepares for his return…
Authored by Jeff Louderback via The Epoch Times (emphasis ours),Nestled in the mountains of Yancey County in western North Carolina, Burnsville looks like a town that might feature in a Norman Rockwell painting or a Hallmark Christmas movie.NuWray Hotel owners Amanda…
General Motors is winding down its Cruise robotaxi division, according to a new report from Bloomberg. GM's exit from the market leaves Google's Waymo and Tesla as the two main names in autonomous driving. The division "proved costly and full of reputational pitfalls"…
Mark Sobel at OMFIF discusses the likelihood of an new Plaza Accord to depreciate the dollar. Given one would need Euro area and Chinese agreement, the assessed likelihood is low A Mar-a-Lago Accord also would be inconsistent with Europe’s cyclical situation.…
The 26-year-old Ivy League school graduate, Luigi Mangione, charged in the murder of UnitedHealth executive Brian Thompson, will fight extradition to New York City."My client will not waive extradition today," Manginone's lawyer said, quoted by Fox News. Mangione was denied bail on Monday and will remain at…
The Biden administration, desperate to make an impact somewhere, anywhere, in its final, dying days, has struck again.Just around the time we learned that Biden was set to finally kill the Nippon Steel of US steel, we learned that a federal…
Authored by Peter Berkowitz via RealClearPolitics,In January, Republicans will gain undivided control of the federal government’s political branches. Yet President-elect Donald Trump’s comfortable 312-226 electoral-college victory over Vice President Kamala Harris and his narrow margin in the popular vote – 49.9%…
Non-governmental organizations receiving taxpayer dollars are under scrutiny for misusing funds in shady operations. Elon Musk and Vivek Ramaswamy, set to lead the Department of Government Efficiency (DOGE), have announced plans to investigate how taxpayer funds are funneled into NGOs. Let's begin with an…
Authored by Julie Kelly via RealClearInvestigations,Even as President-elect Donald Trump promised on Sunday to act “very quickly” on pardons for many of the protesters involved in the events of January 6, the Biden administration’s Justice Department is continuing to arrest and…
Today’s leading historians of science have “debunked” the notion that religious dogmatism and science were largely in conflict in Western history: conflict was rare and inconsequential, the relationship between religion and science was constructive overall. This view stands in sharp contrast…
by Calculated Risk on 12/10/2024 03:00:00 PM The Consumer Price Index for November is scheduled to be released tomorrow. The consensus is for a 0.3% increase in CPI, and a 0.3% increase in core CPI. The consensus is for CPI to…
Authored by Helen Partz via CoinTelegraph.com,Billionaire investor Ray Dalio expressed concerns about a potential “pending debt money problem” in global finance and urged a shift toward hard assets like Bitcoin and gold.Dalio, the founder of one the world’s largest hedge funds,…
The year may be drawing to a close but the US needs to feed the government debt monster - which just hit a record $36.17 trillion - with more and more debt come rain, shine, Chritmas, New Years, etc, etc, and…
By Lambert Strether of Corrente. Bird Song of the Day Northern Mockingbird, Spencer, Indiana, United States. “Still singing incessantly through the night. All these audios recorded from bathroom window at 3:27, 3:33, 3:58, and 4:01 (last one does have passing car–amazing…
The rivalry between two of America's top billionaires, Elon Musk and Bill Gates, continued on Tuesday morning when Musk jokingly suggested on X that Gates' alleged short position on Tesla might lead to his financial demise. "If Tesla does become the world's most…
by Calculated Risk on 12/10/2024 12:14:00 PM Many years ago, I wrote: The upward slope of Real House Prices. I argued that real house prices (adjusted for inflation) had typically increased about 1.0% to 1.5% per year (much higher than Professor…
The Nobel Prize lectures in economics - Marginal REVOLUTION Thank-you! You've been successfully added to the Marginal Revolution email subscription list.
Yves here. Richard Murphy highlights how housing is ever more unaffordable in the UK, portending yet another housing/financial crash. To add insult to injury, Brits are underhoused by advanced economy standards. From World Population Review: The United Kingdom once had the…
by Calculated Risk on 12/10/2024 09:07:00 AM Today, in the Calculated Risk Real Estate Newsletter: Part 1: Current State of the Housing Market; Overview for mid-December 2024A brief excerpt: This 2-part overview for mid-December provides a snapshot of the current housing…
The transcript from this week’s, MiB: David Roux, BayPine, Silver Lake Partners, is below. You can stream and download our full conversation, including any podcast extras, on Apple Podcasts, Spotify, YouTube, and Bloomberg. All of our earlier podcasts on your favorite pod hosts…
Donald Trump wants to create Freedom Cities. It’s a good idea. As I wrote in 2008, the Federal Government owns more than half of Oregon, Utah, Nevada, Idaho and Alaska and it owns nearly half of California, Arizona, New Mexico and…
Science could solve some of the world’s biggest problems. Why aren’t governments using it? Nature An Ancient Killer Is Rapidly Becoming Resistant to Antibiotics, Study Warns ScienceAlert #COVID-19/Pandemics A single mutation in bovine influenza H5N1 hemagglutinin switches specificity to human receptors…
Yves here. Rob Urie takes a step back to place the murder of the UnitedHealth CEO Brian Thompson in a broader political/economic context. It’s not news that the US health care industry prioritizes profit over care. But most choose to avert…
What is the scandal-tarnished Japanese tech giant Fujitsu doing running the government’s digital Proof of Age Standards Scheme (PASS)? Let’s begin with the good news: Cash has just completed a two-year revival tour in the UK. In 2022, cash payments increased…
Yves here. The crisis triggered by Macron triggering early parliamentary elections and the resulting failure to form a coalition could, remarkably, intensify expected European energy woes. Winter is coming and this one is expected to be cold. By Tsvetana Paraskova, a…
When does it make sense to organize most of your urban activity on a (more or less) straight line? If land transport is very costly, as in much earlier times, and a river is available, you might build much of the…
by Calculated Risk on 12/09/2024 08:51:00 PM From Matthew Graham at Mortgage News Daily: Mortgage Rates Slightly Higher to Start New WeekMortgage rates ended last week with an impressive drop to the lowest levels in more than a month and a…
This is my final column for The New York Times, where I began publishing my opinions in January 2000. I’m retiring from The Times, not the world, so I’ll still be expressing my views in other places. But this does seem…
EJ Antoni/Heritage writes: Another month, another record high for the number of gov’t employees Well, yes. Of course, population is also at a record high. So too is nominal GDP. What to do…what to do… maybe normalize? Maybe choose a longer…
By Lambert Strether of Corrente. I had started this post with a quest for a nickname: I couldn’t, after all, keep writing “the alleged assassin of Unitedhealth CEO Brian Thompson” over and over, and “CEO assassin” seemed too generic for the…
by Calculated Risk on 12/09/2024 02:15:00 PM From Dodge Data Analytics: Dodge Momentum Index Slides 2% in November The Dodge Momentum Index (DMI), issued by Dodge Construction Network, decreased 2.3% in November to 191.5 (2000=100) from the revised October reading of…
By Lambert Strether of Corrente. Bird Song of the Day Northern Mockingbird, 138 Captains Dr, West Babylon US-NY, Suffolk, New York, United States. “Two cuts of the same bird. Loaded with mimicry: Carolina Wren (song and call), American Crow, Blue Jay,…
Equipped with tools to measure our calories, steps, working hours, wasted hours, water intake and sleep cycles, we have now been exhorted to measure our charitable impact, too. Books, podcasts, TikToks and digital guides implore us to donate our money cautiously,…
1. Nick Bostrom on The Cosmic Host. 2. Alexander Berger on the risks and benefits of kidney donation. 3. Who owns the drones flying over New Jersey (NYT)? 4. Some astronomy photos of the year. 5. al-Julani comment, on institutions. 6.…
by Calculated Risk on 12/09/2024 10:57:00 AM Today, in the Real Estate Newsletter: ICE Mortgage Monitor: Refinance Activity Increased Especially for Rate/Term RefinancesBrief excerpt: When mortgage rates declined in September and October, there was a surge in refinance activity, especially in…
Oil markets have shown little reaction to the collapse of the Syrian regime of Bashar al-Assad, as traders most likely calculated that Syria was only a modest producer and that events there did not immediately threaten exports from the wider region.In…
by Calculated Risk on 12/09/2024 08:11:00 AM Altos reports that active single-family inventory was down 2.3% week-over-week. Inventory is now 6.7% below the peak for the year (7 weeks ago).Inventory will now decline seasonally until early next year. The first graph…
How and When Did Humans First Move Into the Pacific? Sapiens Climate/Environment The First Ice-Free Day in the Arctic Ocean Could Occur Before 2030, Says Researchers High North News Texas farmers say sewage-based fertilizer tainted with “forever chemicals” poisoned their land…
Given the fog over the collapse of the Syrian government (which unlike the fog of war, seems likely to thin in the coming week or so), it seemed useful to provide concrete information on one element of how Syria got where…
Yves here. Of course, as some readers are likely to point out, we, as in “those who like or need the conveniences of modern civilization” can’t not afford an energy transition if we want to have any prospect of keeping that.…
By John McCracken who covers the industrial agriculture meat industry for Investigate Midwest. This article first appeared on Investigate Midwest Click here to learn how you can get PPE in states with bird flu cases. If you work on a dairy…
Here is one of them: In the 2020s, over 16% of movies have colons in the title (Like Superman: Man of Steel), up almost 300% since the 1990s. And: The Telugu-language action film Devara: Part 1 made more money ($5.5m) in US cinemas than…
The offensive vs. defensive framing seems wrong, at least temporarily. It should be motivated vs. unmotivated, with drones favoring the motivated. A competent drone capability requires building a supply chain, setting up a small manufacturing/assembly operation, and training skilled operators. They need…
by Calculated Risk on 12/08/2024 06:21:00 PM Weekend: • Schedule for Week of December 8, 2024Monday: • No major economic releases scheduled.From CNBC: Pre-Market Data and Bloomberg futures S&P 500 and DOW futures are mostly unchanged (fair value).Oil prices were down…
The author is Bartle Bull, and the subtitle is A 5,000-Year History of Iraq. Excerpt: Another is the extraordinary length of what might be called an East-West conflict in Iraq. The Roman-Persian wars lasted from 54 BC until 628 AD. Nine…
1. The Knausgaard library. 2. A new paper on the diminishing returns to research. 3. Those new service sector jobs: “How to Make $100 an Hour Scratching Someone’s Back.” (WSJ) 4. Shruti podcast with Pravin Krishna on trade. 5. Jennifer Doleac…
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