Mapped: The Migration of the World’s Millionaires in 2023 Source: Visual Capitalist

by Calculated Risk on 9/27/2023 04:13:00 PM Two key points: 1) There is a clear seasonal pattern for house prices. 2) The surge in distressed sales during the housing bust distorted the seasonal pattern.  This was because distressed sales (at lower…

This is absolutely insane. TAMU was probably one of the most conservative flagship state universities in the nation https://t.co/z3yVLvoe7I — constans (@constans) September 25, 2023

The F.T.C. chair, who published an influential law school paper on the e-commerce giant, is now fighting the company over its market dominance.Lina Khan, the F.T.C. chair, takes her first big swing at Amazon.Tom Brenner for The New York TimesA battle…

By Lambert Strether of Corrente. Bird Song of the Day Eurasian Nuthatch, Fishponds Open Space, London, England, United Kingdom. With chiming London bell. * * * Politics “So many of the social reactions that strike us as psychological are in fact…

by Calculated Risk on 9/27/2023 01:29:00 PM First, shutdowns are expensive, and many government employees continue to work (like the military), but don't get paid. This time President Biden and Speaker McCarthy agreed on a plan, but the Speaker has been…

1. Burkey Belser, RIP. 2. Why is multilateralism in the tax sphere surviving when multilateralism is collapsing elsewhere? 3. The U.S. effects of banning cousin marriage. 4. I am not convinced, but here is an argument that AI will lead to…

© 2023 CNBC LLC. All Rights Reserved. A Division of NBCUniversalData is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.Market Data Terms of Use and DisclaimersData also…

ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Hubert Joly, Harvard Business School senior lecturer and former Best Buy chairman and CEO, joins 'Squawk Box' to discuss the state of the consumer, as confidence drops to…

Yves here. The study described below may sound clever and satisfying but it is actually pretty terrible. It uses an AI that it claims is 84% accurate in detecting lies and had it score earnings call transcripts from 2008 to 2016.…

by Calculated Risk on 9/27/2023 09:30:00 AM Today, in the Calculated Risk Real Estate Newsletter: Inflation Adjusted House Prices 3.4% Below Peak; Price-to-rent index is 7.4% below recent peakExcerpt: It has been over 17 years since the bubble peak. In the…

ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Megan Horneman, Verdence Capital Advisors CIO, joins 'Squawk Box' to discuss the latest market trends, why she believes what we're experiencing in the markets is a valuation correction,…

ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email FTC Chair Lina Khan joins 'Squawk Box' to discuss the Federal Trade Commission's antitrust lawsuit against Amazon, accusing the company of illegally using market power to raise prices…

ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email FTC Chair Lina Khan joins 'Squawk Box' to discuss the Federal Trade Commission's antitrust lawsuit against Amazon, accusing the company of illegally using market power to raise prices…

ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Minneapolis Fed President Neel Kashkari joins 'Squawk Box' to discuss the Fed's inflation fight, the central bank's future rate path, the impact on the economy, and more. 07:26…

ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Mel Lagomasino, CEO of WE Family Offices, joins 'Squawk Box' to discuss the latest market trends, why she believes the Fed's expectation to keep rates higher for longer…

ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Sol Trujillo, Trujillo Group and The Latino Donor Collaborative chairman, joins 'Squawk Box' to discuss the organization's 2023 U.S. Latino GDP report, which charts the financial power and…

ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Walter Isaacson, Elon Musk biographer and partner at Perella Weinberg, joins 'Squawk Box' to discuss the state of the UAW strike, the impact of the strike on the…

ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Minneapolis Fed President Neel Kashkari joins 'Squawk Box' to discuss the Fed's inflation fight, the central bank's future rate path, the impact on the economy, and more. 05:20…

ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Walter Isaacson, Elon Musk biographer and partner at Perella Weinberg, joins 'Squawk Box' to discuss the state of the UAW strike, the impact of the strike on the…

ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Rep. Kelly Armstrong (R-N.D.) joins 'Squawk Box' to discuss the latest negotiations on Capitol Hill, whether a government shutdown can be avoided, and more. 05:27 3 minutes ago

ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Tim Higgins, Wall Street Journal reporter, joins 'Squawk Box' to discuss the latest on the UAW strike negotiations after President Biden visited the picket line in Michigan on…

ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email John Mowrey, NFJ Investment Group CIO and senior portfolio manager, joins 'Squawk Box' to discuss the latest market trends, interest rate outlook, best investment ideas for Q4, and…

© 2023 CNBC LLC. All Rights Reserved. A Division of NBCUniversalData is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.Market Data Terms of Use and DisclaimersData also…

© 2023 CNBC LLC. All Rights Reserved. A Division of NBCUniversalData is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.Market Data Terms of Use and DisclaimersData also…

During the summer I had the opportunity to spend a week at a16z’s crypto lab in New York City where I gave a fun talk on intellectual property including patents and copyrights, the great stagnation, the diffusion of ideas, American economic…

by Calculated Risk on 9/27/2023 07:00:00 AM From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage applications decreased 1.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for…

To protect wild bumblebees, people have to find them first High Country News What Do Sharks Eat? Field and Stream How to Outperform How to Outperform Climate Giant Batteries Helped the U.S. Power Grid Eke Through Summer WSJ The Climate March:…

Yves here. KLG reviews the recent Simon Schama book, Foreign Bodies: Pandemics, Vaccines and the Health of Nations. While he finds Schama’s offering has a lot of merit, KLG also takes issue with some of Schama’s views. By KLG, who has…

McKinsey has agreed to a settlement, subject to court approval, which will enable the giant consulting firm to settle the liability resulting from its advice to Purdue Pharma and other opioid pushers. A high-level recap from the Financial Times: Thousands of…

Yves here. For the technically-minded, below is a slightly more detailed discussion of FCC internet service provider designation that the agency plans to restore to its pre-2017 status. The very short version is that the former designation of broadband providers as…

In the mid-1980s manufacturing accounted for a third of Brazil’s gdp; now it represents just 10%. The country’s surplus in manufacturing trade, $6bn in 2005, became a deficit of $108bn by 2019. Productivity in manufacturing and services has stagnated or shrunk.…

Dan Rivera, South Carolina, FavorPiedmont, addiction recovery and treatment. Lukas Bogacz, Utrecht/South Africa, to start a company based on fine-tuning LLMs. Brian Wang, MIT, Panoplia Laboratories, for DNA-based pan-virus vaccine research. Gabriel Abrams, Washington, D.C., Sidwell (high school), LLMs and economic…

Forecasts of recession vary with indicators (term spread, foreign term spreads, debt-service ratios). Forecasts of economic activity — as measured by industrial produciton — also differ by predictor. I compare the forecasts from the 10yr-3mo spread, the foreign term spread (Ahmed/Chinn),…

by Calculated Risk on 9/26/2023 07:37:00 PM Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios.Wednesday: • At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.• 8:30 AM,…

In a lawsuit filed on Tuesday, the Federal Trade Commission said the internet giant used its monopoly power to stifle competition and raise prices.In a long-awaited lawsuit, the Federal Trade Commission and 17 states sued Amazon on Tuesday, accusing the company…

From the paper published in Service Science (2023), Alireza Boloori (University of Washington-Tacoma), and Soroush Saghafian (Harvard): Abstract: Lockdown policies, such as stay-at-home orders, are known to be effective in controlling the spread of the novel coronavirus disease 2019. However, concerns…

The Federal Trade Commission and 17 states sued Amazon, saying its conduct in its online store and services to merchants illegally stifled competition.The Federal Trade Commission and 17 states sued Amazon on Tuesday, setting up a long-awaited antitrust fight with the…

The bank agreed to pay $75 million to settle with the U.S. Virgin Islands and reached a confidential settlement with a former top banker who pushed to keep the disgraced financier as a client.JPMorgan Chase has agreed to pay $75 million…

1. The Reversal Curse (LLMs). 2. Crows use statistical logic. 3. The AI skeptics are starting to go a little quiet. 4. The crisis in UK universities (WSJ). 5. The wisdom of Larry Summers, recommended.  YouTube here. 6. US capital is…

By Lambert Strether of Corrente. Patient readers, I got a late start today due to household issues. More soon; for whatever reason, there was a boatload of Covid news. Thanks for your patience! –lambert Bird Song of the Day Beautiful Nuthatch,…

This is a reprint of a post from 2020 entitled “The Worst Statistical Analysis I Have Seen This Year”, motivated by Mr. Bruce Hall‘s urging that we look at a Judith Curry link. (And I have seen a lot of terrible…

I will be doing a Conversation with him.  Patrick is a phenomenon of the modern age.  He writes the excellent Bits About Money, which focuses on money, banking, payments, and more. His blog is Kalzumeus.  He has lived most of his…

by Calculated Risk on 9/26/2023 11:52:00 AM Today, in the Calculated Risk Real Estate Newsletter: New Home Sales decrease to 675,000 Annual Rate in AugustBrief excerpt: The Census Bureau reports New Home Sales in August were at a seasonally adjusted annual…

Yves here. A predictable outcome of fracking, which is contamination of aquifers, may be happening on a big enough scale to get out of the so-called progressive media into the mainstream. I recall years ago photos of dirty yellow and brown…

ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Jim Grant, Grant’s Interest Rate Observer founder and editor, joins 'Squawk Box' to discuss the latest market trends, the Fed's inflation fight, the impact on the economy, and…

ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Sam Stovall, CFRA Research chief investment strategist, joins 'Squawk Box' to discuss the latest market trends, what to make of the current market correction, and more. 04:21 4…

by Calculated Risk on 9/26/2023 10:00:00 AM The Census Bureau reports New Home Sales in August were at a seasonally adjusted annual rate (SAAR) of 675 thousand.The previous three months were revised up, combined. Sales of new single‐family houses in August…

ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Barry Diller, IAC and Expedia chairman and senior executive, joins 'Squawk Box' to discuss the end of the Hollywood writers' strike, the media landscape at large, A.I. revolution…

by Calculated Risk on 9/26/2023 09:46:00 AM Today, in the Calculated Risk Real Estate Newsletter: Case-Shiller: National House Price Index Up 1.0% year-over-year in July; New all-time HighExcerpt: S&P/Case-Shiller released the monthly Home Price Indices for July ("July" is a 3-month…