Rent Control: Bad Then, Bad Now

I can’t believe that my local state representative, whom I’ve met several times and who came and talked with one of my University Seminar classes, will be introducing a rent control law for mobile home parks in the next state legislative session. Technically, the law requires justification of rent increases, instead of an absolute . . . → Read More: Rent Control: Bad Then, Bad Now

Risk and Pensions

Ha.   you thought this was going to be about the doings downtown today.  Not quite, but everything is related somehow.

Can’t believe I missed this.  From the Detroit Free Press:  Risky bets cost Detroit pension funds $480 million.   and check out their side story: Where the Detroit pension funds went wrong. Note the picture . . . → Read More: Risk and Pensions

Pittsburgh’s real estate moment?

In order to post something positive and to stick to the knitting, several positive economic notes out there. We’ll start with real estate.

I already mentioned the latest real estate data from realstats.  The PG headline was quite negative: Region home sales drop sharply.  Unless you are in the real estate biz itself, I . . . → Read More: Pittsburgh’s real estate moment?

Legal vs. Illegal Prostitution

Okay, this kinda of crap makes me angry, just angry. Go read the article. Do you see what’s wrong with it? I see no distinction between legal prostitution and illegal prostitution. Now let’s look at the difference between legal and illegal drugs. The first you can buy in any store (everybody sells aspirin), in . . . → Read More: Legal vs. Illegal Prostitution

Economic Events on December 30, 2010

At 8:30 AM EST, the U.S. government will release its weekly Jobless Claims report.  The consensus is that there were 415,000 new jobless claims last week, which would would be 5,000 less than last week’s number as the employment market continues to show signs of improvement.

At 9:45 AM EST, the Chicago PMI Index . . . → Read More: Economic Events on December 30, 2010

A Tale of Three Pension Stories

Just fascinating reading the three account of the latest on the pension front. Those from Smydo,  Vidonic and Potter.   You have to wonder what those future archeologists will think of us when they dig this stuff up.

However, I have to give the award of the day to Vidonic though because once you dug through . . . → Read More: A Tale of Three Pension Stories

Interesting Readings for December 29, 2010

Since most of us in India can talk about little else other than corruption, do read this article by Nauro F. Campos and Ralitza Dimova on voxEU which is an interesting meta-analysis about papers which analyze the impact of corruption on growth. I have long heard about meta-analysis, but this one made me . . . → Read More: Interesting Readings for December 29, 2010

Existential Fiscal Policy

Since several have asked, my general opinion of the latest news on the PPP front is that the latest plan reminds me of My Dinner With Andre.

Policy and philosophy are not really all that far apart.  Or maybe it’s finance and philosophy that are more akin than we think.  A promise to pay . . . → Read More: Existential Fiscal Policy

Putting the Bow on a Positive 2010

U.S. retailers put a bow on a positive 2010 and registered their best performance in five years according to preliminary reports released on Monday.

Holiday sales jumped 5.5 percent as consumers returned to retailers across the board including high-end Macy’s Inc., Tiffany’s. and Bloomingdale’s.

Consumers were out in full forces at most every chain . . . → Read More: Putting the Bow on a Positive 2010

Economic Events on December 28, 2010

At 7:45 AM EST, the weekly ICSC-Goldman Store Sales report will be released, giving an update on the health of the consumer through this analysis of retail sales.

At 8:55 AM EST, the weekly Redbook report will be released, giving us more information about consumer spending.

At 9:00 AM EST, the monthly S&P/Case-Shiller home . . . → Read More: Economic Events on December 28, 2010