Normal Americans punished MAGA
Normies exist, and there’s only so far you can push them before they get mad.
The wire
Live news feed
126 headlines collected and scored. Last update 8m ago.
The election
Procedurally it seems to have gone just fine, and the people predicting “the end of democracy in America” now look foolish. They have been suffering under fundamental misunderstandings of how this country works. During this election cycle, democracy never was under threat and the United States has not been under risk of fascism. Rising in […] The post The election appeared first on Marginal…
Bearish
Europeans really don’t like to invest in stocks
It has become a trope to say that there is no equity investment culture in continental Europe (at least nowhere near what we see in the Anglo-Saxon world).
Trade and the end of antiquity, or did Islam serve to deglobalize the world?
How did trade and economic activity evolve at the End of Antiquity, when political power shifts away from the Mediterranean towards the Middle East and northern Europe? No records of ancient production, consumption, and trade exist. Yet the composition of coin finds reveals information about monetized transactions, as coins gradually diffused along trade routes. To […] The post Trade and the end…
Multifamily CRE Meltdown Keeps Getting Uglier
The US government holds half of all multifamily mortgages. The rest is spread around.
Musings on Markets — Aswath Damodaran·The Anthropic Feedback Loop: The Cost of Capital Delusion and Diversion!
I knew that my post on Anthropic would draw strong reactions, when I made it public last week. I did mention in the course of the post that I have no interest in selling my estimate of value to the rest of the world, both because I don't own the high ground here and because it is meant to guide my decisions, not yours. That is why I made my model open to changes that you can make to my story and…
Neutral
Ireland fact of the day
Almost half of Ireland’s corporation tax haul comes from just three companies: Apple, Eli Lilly and Microsoft. Here is much more from Jude Webber at the FT, on why Ireland does not always feel or operate like a wealthy country. The post Ireland fact of the day appeared first on Marginal REVOLUTION.
Labor Market Churn Accelerates on Big Jump in Quits
Job Openings to fill those left-behind slots rose, hires jumped, layoffs & discharges fell and were low.
Bullish
Tuesday links: celebrity value extraction
How Are U.S. Household Finances Doing?
An update on household balance sheets. The post How Are U.S. Household Finances Doing? appeared first on A Wealth of Common Sense. ...
Research links: being manipulated
Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s edition including a look at...
Thoughts on Owning a Self-Driving Tesla
My Subaru was showing its years so I recently bought a Tesla. My thinking was I can buy a car or I can buy a car+driver for the same price. Simple choice. I’ve driven about 2000 miles including one long trip (6 hours) to North Carolina and back. FSD is incredible. I don’t mind driving […] The post Thoughts on Owning a Self-Driving Tesla appeared first on Marginal REVOLUTION.
Are economists declining in status?
That is the theme of my latest Free Press article. Excerpt, which offers the beginning of the story: If we look at the 1960s, the John F. Kennedy and Lyndon Baines Johnson administrations brought James Tobin, Robert Solow, Kenneth Arrow (all three later Nobel laureates), Arthur Okun, Walter Heller, Gardner Ackley, Otto Eckstein, and Walt […] The post Are economists declining in status? appeared…
*Fjord* and *Fatherland*
Both of these movies I found worth watching. Fjord won the Golden Prize at Cannes, and it concerns the rights of the family vs. the rights of the state, when it comes to raising children. As I interpreted the story, it was so right-wing and so based I am shocked it won. It is by […] The post *Fjord* and *Fatherland* appeared first on Marginal REVOLUTION.
Bearish
Monday links: poor communications
Adviser links: a borrowing binge
Mondays are all about financial adviser-related links here at Abnormal Returns. You can check out last week’s links including a look at...
Expensive Pharmaceuticals for Targeted Diseases
My latest paper, The Price of a Cure: Luxturna and the Economic Dilemmas of Precision Medicine, is in the Journal of Law, Medicine and Ethics. I discuss the economics of the pharmaceutical industry and the special issues that arise with targeted drugs that cure. We are going to get many more of these drugs in […] The post Expensive Pharmaceuticals for Targeted Diseases appeared first on Marginal…
Anthropic’s moat is Claude
Women are their own enemies
One of the things I observe with many women I work with is that they tend to be more reluctant to self-promote.
Should you feel grief for the dead who go to heaven?
I am not myself religious, but let us consider the possible gulf between behavior and doctrine amongst those who are. It has long struck me as a kind of mini-puzzle why people feel so much grief for the departed, at least for the departed who are supposed to be headed for heaven (and yes there […] The post Should you feel grief for the dead who go to heaven? appeared first on Marginal REVOLUTION.
A Bloodbath in the Stock Market?
There are a lot of stocks getting hammered right now. The post A Bloodbath in the Stock Market? appeared first on A Wealth of Common Sense. ...
As predicted, the ACA exchanges seem not to be stable
The average price of health insurance in the Obamacare marketplaces will rise by 13 percent next year, according to an analysis on Friday by KFF, the health research group. The Trump administration on Friday published new prices for 2027 in 30 states with markets managed by the federal government. Using that data and state figures, […] The post As predicted, the ACA exchanges seem not to be…
Bearish
Sunday assorted links
1. Jakob Davidsen, The Individual and the Entire Tissue (song cycle). It is good. 2. The Oilers Entertainment Group pushed prices too high and here is what happened. 3. The “endless cruise” has ended. 4. Should driverless vehicles replace school buses? 5. Art Nouveau and more in Mexico City. 6. How are potential mathematicians responding […] The post Sunday assorted links appeared first on…
Bullish
Sunday links: economic failures
Top clicks this week on Abnormal Returns
Thanks for checking in with us this weekend. Here are the most clicked on items on Abnormal Returns for the week ended...
Bullish
What are the Worst MR Posts?
What are the worst MR posts, most illogical, poorly reasoned, low value, inconsistent? From the Archives, written by ChatGPT: These are provisional candidates for weak reasoning, selected because there is a specific gap between the evidence and the conclusion. This is not an objective ranking of all 40,326 posts in the downloaded archive. Poor reasoning […] The post What are the Worst MR Posts?…
Bearish
Those new service sector jobs?
A suburban Chicago man has been sentenced to two years in federal prison for conspiring to stage armed robberies so that the purported victims could apply for U.S. immigration visas reserved for crime victims. From 2022 to 2024, PARTH NAYI organized and participated in hundreds of staged armed robberies at coffee shops, restaurants, liquor stores, and gas […] The post Those new service sector…
Saturday links: walking a fine line
Saturdays we catch up with the non-finance related items that we didn’t get to earlier in the week. You can check out...
Bearish
Farewell, my Captain
A TV character gave us a glimpse of what humanity might become.
Follow the Money
What six years and 300+ posts of Net Interest say about where finance is heading