A $2 billion private-equity fund that borrowed heavily to buy oil and gas wells before energy prices plunged is now worth essentially nothing, an unusual debacle that is wiping out investments by major pensions, endowments and charitable foundations.
“Changes to Ontario housing policy made in late April have clearly prompted many home buyers in the Greater Golden Horseshoe region to take a step back and assess how the housing market absorbs the changes,” said CREA’s chief economist, Gregory Klump. “The recent increase in interest rates could reinforce a lack of urgency to purchase or, alternatively, move some buyers off the sidelines before their pre-approved mortgage rate expires.”
There is nothing wrong with putting a brave face on things, but rational people realize it had to end.
It is unhealthy for the price of something as essential to daily life as housing to be rising 30 per cent a year, as it was in southern Ontario earlier this year, while Canadian wages remain flat. That graphic relationship was tweeted out last week by Hilliard MacBeth, author of When the Bubble Bursts.
Don’t Get Burned By Cryptocurrencies (Tiffany D.)
Early ICO investors are usually motivated to buy the new cryptocurrency in the hope that it will increase in value when released. Ethereum is an example of a successful ICO project that was profitable to early investors. In 2014, the Ethereum ICO raised $18 million in bitcoin, or $0.40 per ether. The project went live in 2015, and in 2016 ether rose as high as $14, with a market capitalization of over $1 billion.
Former London Mayor Ken Livingstone was suspended from Labour following a series of remarks about Israel, including the suggestion that Hitler supported Zionism before the Holocaust.
It follows the suspension of Bradford West MP Naz Shah after it emerged she had once suggested, among other things, that Israel should be moved to the United States. The new president of the National Union of Students, Malia Bouattia, has also been heavily criticised for remarks she made about Zionists.
Several stories published by our partners focused on racial harassment on public transportation, using tips to illustrate something officials were also seeing. The New York City Commission on Human Rights observed a 480 percent increase in claims of discriminatory harassment between 2015 and 2016, according to The New York Times Opinion section. The Massachusetts Bay Transportation Authority recorded 24 cases of offensive graffiti through April, compared to 35 in all of last year, the Boston Globe found. Univision covered multiple incidents involving Latinos targeted in incidents on the New York City subway.
Electric Vehicles Won’t Topple Oil… Yet (Michael K.)
There are other studies making the case for electrification over oil in passenger vehicle transportation. A new study by Bloomberg New Energy Finance was just released that warns about the impact of booming EV sales. OPEC quintupled its previous forecast and now predicts that growth in EV sales will mean that oil demand will be reduced 8 million barrels by 2040. Exxon Mobil Corp. to BP Plc also revised up their outlooks in the past year and expect oil to have more impact according to the Bloomberg study.
WSU has monitored the genetic diversity of honeybee queens in Washington and California since 1994, showing a steady decline. Dr. Brandon Hopkins, the team’s expert in freezing and thawing bee sperm, likens honeybee breeding to a poker game played with an incomplete deck of cards. “There’s no way to get a four-of-a-kind if there aren’t four aces in the deck,” Hopkins says.
Gold & Silver
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