Patrick Chovanec has a fascinating article in Foreign Affairs, titled China’s Real Estate Bubble May Have Just Popped. This is interesting and important from two points of view.
First, bad news for China is bad news for the world economy. We are already in a bleak environment, with difficulties in Europe, Japan, the US, . . . → Read More: Uncomfortable times in real estate in store?
Walter E. Williams, on the federal income tax:
During the legislative debate before enactment of the 16th Amendment, Republican President William Taft and congressional supporters argued that only the rich would ever pay federal income taxes. In fact, in 1913, only one-half of 1 percent of income earners were affected. Those earning $250,000 a . . . → Read More: Interesting History
So in the spirit of the end of year retrospectives we will be having all week this came to mind. In October I pointed out that for the Pittsburgh region, it was the highest employment count for an October ever. Same for November. Following from that, I was thinking a bit about some analysis by the . . . → Read More: Most Stable Region of Pittsburgh
At 9:00 AM Eastern time, the monthly S&P/Case-Shiller home price index report will be released. Given that most economists don’t expect the overall U.S. economy to improve until housing prices end their decline, the market will be watching this number closely.
At 10:00 AM Eastern time, the monthly report on Consumer Confidence for December . . . → Read More: Economic Events on December 27, 2011