economics

Spain and Ireland, whose real estate markets had even more pronounced upswings, ended up with excess housing stocks equivalent to roughly 15 times the average annual supply of the pre-boom period.

Because gold is bought mainly during times of crisis,

To maintain their income, the lords attempted to extract a greater amount from each peasant, as well as trying to dispossess one another (via brigandage and internal warfare).

Okay then, what is religion about? A: Religion is not about beliefs. Instead, religions are strategies for the survival and reproduction of human tribes.

In the Treasury market, following several consecutive days of deteriorating conditions, market participants reported an acute decline in market liquidity. A number of primary dealers found it especially difficult to make markets in off-the-run Treasury securities and reported that this segment of the market had ceased to function effectively. This

You can see on the chart that it was similar during other dollar spikes from 1983-1987 and 1996-2003; dollar spikes are historically bad for U.S. corporate profit growth and this third one is no different.

This latest bout of corporate stagnation has been somewhat masked by higher equity valuations, corporate tax cuts that boosted after-tax profits,

While much of the discourse around AI’s impact tends to polarize around “more jobs” or “fewer jobs,” there is a third alternative: different jobs**.** Some economists predict that, unlike industrial automation, AI will reduce the skill premium, acting as a corrective force on the disparity between wages for “skilled” and “unskilled” labor. They

But here’s the twist: while the fiscal deficit is under control, state debts remain high. Currently, state debt is at 28.5% of GDP, far above the recommended level of 20%. High debt means states are borrowing heavily, which could become a problem if their revenues don’t grow fast enough.

Due to decades of these deficits, the United States has indeed developed a large negative net international investment position, equal to about -50% of U.S. GDP: