Mind the bid-ask gap.
'The big mistake is to think that money has absolutely nothing to do with inflation.'
"If we’re okay with punishing political opponents severely without any recourse whatsoever, then we’ve lost it. Freedom is over. It’s only a matter of time before your political opponents grab hold of power, and turn those weapons on you."
Our Terrible, Horrible, No Good, Very Bad Media strikes again…
With absolutely no evidence to back it up, The Diplomat says that if you are Vietnamese, and you oppose the use of cluster bombs, you are pro-Russian.
Boring!
We’re all so proud of the QT.
“Each real estate sector seems like it’s unhappy in its own way.”
Nothing to see here. Move along.
Pension funds are funding the private-equity locusts.
"US public pensions have boosted their exposure to private equity to $622 billion, the highest in at least two decades"
Here is the paper Brendan Ballou cites:
We calculate the implied cost in statistical value of life-years in Table B.4 Panel A. We translate the IV coefficients into lives and life-years lost based on the number of index stays by patients of PE-owned nursing homes during our sample period. Accordingly, we compute about 20,150 additional deaths due to PE ownership over our twelve-year sample period. To estimate life-years lost, we rely on observed survival rates for Medicare patients at all nursing homes. This leads to an estimate of about 160,000 lost life-years.20 Applying a standard estimate of statistical value of a life-year of $100,000 (Cutler and McClellan, 2001), inflated to 2016 dollars, this implies a mortality cost of $20.7 billion.
Luxury Watches
Podcast: Carol Roth on 'Owning Nothing and Being Happy' with Michael Gayed Carol warns about many of the same things that worry me (and Whitney Webb).
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