The two sectors, notes Temin, have entirely distinct financial systems, residential situations, and educational opportunities. Quite different things happen when they get sick, or when they interact with the law. They move independently of each other. Only one path exists by which the citizens of the low-wage country can enter the affluent one, and that path is fraught with obstacles. Most have no way out.
The Housing Bubble Is Back (yogmonster)
A funny thing often occurs after a mania-fueled asset bubble pops: an echo-bubble inflates a few years later, as monetary authorities and all the institutions that depend on rising asset valuations go all-in to reflate the crushed asset class.
Take a quick look at the Case-Shiller Home Price Index charts for San Francisco, Seattle and Portland, OR.
What I mean is that the tax code always allows more wiggle room to entrepreneurs, business owners, and those who create capital (land, real estate, ventures) and jobs, but most of all, it favors the ultra-rich banks and private equity firms who use every loophole, tax shelter, and clause they can legally find to avoid paying their share.
But U.S. lumber producers argue that Canadian lumber companies get unfair support from the Canadian government, which owns most of the land on which the trees are harvested.
“The duties are an essential step to make sure we don’t lose more jobs,” said Zoltan van Heyningen, executive director of the U.S. Lumber Association.
Breaking New Ground In Economic Theory (bobwise32952)
Keen was one of twenty or so economists who made a credible prediction of the 2008-9 crisis, which government economists in the US and abroad declared “unpredictable” – after it blindsided them. His work draws on contemporary economic theory and generates real-world predictions. He’s the sort of economist who financial commentators, investors and even government economists listen to; folks who haven’t heard of Daly’s steady state economy, Odum’s energy flow analysis of the ecosystem-economy, or Hall’s EROI “cheese slicer” model.
Our Military Has Been Hijacked (Tiffany D.)
Although our initial response to 9/11 was well-supported at home, the disastrous invasion of Iraq and its ongoing consequences — including the increasing use of battlefield techniques against citizens at home — led many of us to start to reconsider our carte blanche support of the military.
To such people — including many of you — it’s not that the goal of the military is wrong. It’s that selfish interests have hijacked and corrupted it.
Improvised Explosives In Markets (GE Christenson)
Regardless of which “snowflake” (The James Rickards example) causes the avalanche, there is an avalanche in our future, whether it is an overdue stock market crash, on-going bond market crash, another massive QE program to levitate markets that leads to a crash in the dollar, wars in Syria, North Korea, or wherever the powers-that-be choose for 2017-2018.
Can An OPEC Extension Push Oil To $60? (Michael K.)
Undoubtedly, OPEC is hoping an extension of cuts will have a more lasting effect, delivering true stability to markets and lifting prices up to $60. The level several OPEC members have indicated they want prices to rest over the long-term, in order to balance their budgets. But a string of bearish signs have pushed the price below $50, and barring another bout of “geopolitical risk,” it seems only significant changes in fundamentals will deliver the boost OPEC needs.
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