The Crazy Stuff & Asset Prices that arose during Easy Money are coming unglued as Easy Money ended. The era of money-printing and interest-rate repression in the United States, which started in 2008, gave rise to all kinds of stuff, and the easy money kept going and kept going, and all this money needed to […]
https://pricklypear.news/wp-content/uploads/iStock-939248364-scaled.jpg17072560Wolf Richterhttps://pricklypear.news/wp-content/uploads/logo_2023.pngWolf Richter2023-01-02 00:30:182023-01-01 17:46:24The Price of Easy Money Now Coming Due
Arizona’s income tax will switch to a flat rate of 2.5% on Jan. 1, which will be the lowest in the nation among states that assess a state income tax. Although it was initially expected to be implemented in 2024, Republican Gov. Doug Ducey announced in September that it would be bumped to the 2023 […]
https://pricklypear.news/wp-content/uploads/iStock-638601378-scaled.jpg17092560Cameron Arcandhttps://pricklypear.news/wp-content/uploads/logo_2023.pngCameron Arcand2023-01-01 00:30:212022-12-30 06:41:24Arizona Income Tax Flattens to 2.5% in January
The 21st century, only 23 years old, has already had two giant, international housing bubbles. It makes one doubt that we are getting any smarter with experience. Among the countries involved in the second bubble, both the U.S. and Canada fully participated in the newest rampant inflation of house prices. Prices this time reached levels […]
https://pricklypear.news/wp-content/uploads/iStock-922107984-scaled.jpg17092560Alex J. Pollockhttps://pricklypear.news/wp-content/uploads/logo_2023.pngAlex J. Pollock2022-12-31 00:28:452022-12-30 06:15:19The Second Housing Bubble of the Twenty-First Century Is Over
President Biden’s policies have now cost the average American family about $7,100, according to a new report by the Heritage Foundation. While Democrats have proven time and time again that they value their social agenda more than Americans’ economic security, the level of harm represented in this figure is shocking… and infuriating. As the Heritage report outlines, […]
https://pricklypear.news/wp-content/uploads/iStock-860255404-scaled.jpg17072560Isabelle Moraleshttps://pricklypear.news/wp-content/uploads/logo_2023.pngIsabelle Morales2022-12-28 00:30:482022-12-27 05:55:10Under The Biden Economy, The Average Family Lost $7,100
Banks, brokerage houses, and financial pundits are all issuing their post-mortem reflections on 2022 and looking into the new year. They will attempt to tell us what is likely for stocks, bonds, real estate, gold, and crypto for the coming year. We will make our own attempt in due time, but we admire the effort […]
https://pricklypear.news/wp-content/uploads/photo-1586815634274-bf5eb51055c9.jpg531800Neland Nobelhttps://pricklypear.news/wp-content/uploads/logo_2023.pngNeland Nobel2022-12-27 05:06:052022-12-27 05:06:05Bob Farrell’s 10 Rules and the Market in 2023
“Milton Friedman’s shareholder doctrine is dead.” Such was the headline of a 2020 Fortune magazine article critiquing Friedman’s famous New York Times opinion piece which, fifty years earlier, had argued that the social responsibility of business is to increase its profits. The Fortune article was just one of many op-eds, academic papers, and books penned […]
https://pricklypear.news/wp-content/uploads/What_is_ESG.jpg510827Samuel Gregghttps://pricklypear.news/wp-content/uploads/logo_2023.pngSamuel Gregg2022-12-19 00:27:402022-12-18 16:09:46Why Business Should Dispense with ESG
To get rid of ballooning inventories amid spiking cancellations & plunging sales, builders try to sell to rental operations, but they pulled back too. If a homebuilder cannot sell their ballooning inventory of unsold new houses to households, at current prices and mortgage rates, amid plunging sales and soaring cancellation rates of signed contracts – topping out […]
https://pricklypear.news/wp-content/uploads/iStock-181083398-scaled.jpg17072560Wolf Richterhttps://pricklypear.news/wp-content/uploads/logo_2023.pngWolf Richter2022-12-17 00:28:442022-12-16 09:34:55Starting to Be Housing Bust 2 for Homebuilders & New Single-Family Houses
The Phoenix metropolitan area has the highest annual inflation rate in the nation. The Bureau of Labor Statistics released the November consumer price index data on Tuesday, showing the rest of the nation that didn’t receive data in the first batch of cities that included Phoenix. In November, BLS reported Phoenix had a 12.1% inflation […]
https://pricklypear.news/wp-content/uploads/iStock-1368963483-scaled.jpg17072560Cameron Arcandhttps://pricklypear.news/wp-content/uploads/logo_2023.pngCameron Arcand2022-12-16 00:31:072022-12-15 16:47:27Phoenix Area has Nation’s Highest Inflation
A recent article in the Wall Street Journal got me thinking about the passbook savings accounts of my long-ago youth. The article said that kids today don’t want their parents to give them cash for allowances and doing chores. They want to be paid in Robux, which is an online currency from Roblox Corp. Kids […]
https://pricklypear.news/wp-content/uploads/iStock-182826629-scaled.jpg18942560Craig J. Cantonihttps://pricklypear.news/wp-content/uploads/logo_2023.pngCraig J. Cantoni2022-12-16 00:28:002022-12-16 08:56:16A Paean to Passbook Savings Accounts
Automakers need to do some serious navel-gazing about price levels and going upscale, if they want to sell more vehicles. To illustrate the data we’re going to look at in a moment, I “built” a 2023 model year F-250 Lariat on Ford’s website: MSRP $104,070. I could build something more expensive in the F-350 lineup. […]
https://pricklypear.news/wp-content/uploads/7797eaa706738b59fa7d432d5463e2ad.jpg6661000Wolf Richterhttps://pricklypear.news/wp-content/uploads/logo_2023.pngWolf Richter2022-12-12 00:27:592022-12-15 09:05:37$1,768 a Month, with $10,407 Down, 5% APR, on a Ford Pickup?
The Price of Easy Money Now Coming Due
/in Economy, Featured, Personal Finance/by Wolf RichterThe Crazy Stuff & Asset Prices that arose during Easy Money are coming unglued as Easy Money ended. The era of money-printing and interest-rate repression in the United States, which started in 2008, gave rise to all kinds of stuff, and the easy money kept going and kept going, and all this money needed to […]
Arizona Income Tax Flattens to 2.5% in January
/in Arizona News, Economy, Featured, Latest News, Personal Finance/by Cameron ArcandArizona’s income tax will switch to a flat rate of 2.5% on Jan. 1, which will be the lowest in the nation among states that assess a state income tax. Although it was initially expected to be implemented in 2024, Republican Gov. Doug Ducey announced in September that it would be bumped to the 2023 […]
The Second Housing Bubble of the Twenty-First Century Is Over
/in Economy, Featured, Latest News, Personal Finance/by Alex J. PollockThe 21st century, only 23 years old, has already had two giant, international housing bubbles. It makes one doubt that we are getting any smarter with experience. Among the countries involved in the second bubble, both the U.S. and Canada fully participated in the newest rampant inflation of house prices. Prices this time reached levels […]
Under The Biden Economy, The Average Family Lost $7,100
/in Economy, Featured, Latest News, Liberty, Personal Finance, Politics/by Isabelle MoralesPresident Biden’s policies have now cost the average American family about $7,100, according to a new report by the Heritage Foundation. While Democrats have proven time and time again that they value their social agenda more than Americans’ economic security, the level of harm represented in this figure is shocking… and infuriating. As the Heritage report outlines, […]
Bob Farrell’s 10 Rules and the Market in 2023
/in Economy, Featured, Latest News, Personal Finance/by Neland NobelBanks, brokerage houses, and financial pundits are all issuing their post-mortem reflections on 2022 and looking into the new year. They will attempt to tell us what is likely for stocks, bonds, real estate, gold, and crypto for the coming year. We will make our own attempt in due time, but we admire the effort […]
Why Business Should Dispense with ESG
/in Culture War, Economy, Featured, Latest News, Personal Finance/by Samuel Gregg“Milton Friedman’s shareholder doctrine is dead.” Such was the headline of a 2020 Fortune magazine article critiquing Friedman’s famous New York Times opinion piece which, fifty years earlier, had argued that the social responsibility of business is to increase its profits. The Fortune article was just one of many op-eds, academic papers, and books penned […]
Starting to Be Housing Bust 2 for Homebuilders & New Single-Family Houses
/in Arizona News, Economy, Featured, Latest News, Personal Finance/by Wolf RichterTo get rid of ballooning inventories amid spiking cancellations & plunging sales, builders try to sell to rental operations, but they pulled back too. If a homebuilder cannot sell their ballooning inventory of unsold new houses to households, at current prices and mortgage rates, amid plunging sales and soaring cancellation rates of signed contracts – topping out […]
Phoenix Area has Nation’s Highest Inflation
/in Arizona News, COUNTIES, Economy, Featured, Latest News, Maricopa, Personal Finance/by Cameron ArcandThe Phoenix metropolitan area has the highest annual inflation rate in the nation. The Bureau of Labor Statistics released the November consumer price index data on Tuesday, showing the rest of the nation that didn’t receive data in the first batch of cities that included Phoenix. In November, BLS reported Phoenix had a 12.1% inflation […]
A Paean to Passbook Savings Accounts
/in Culture War, Economy, Featured, Personal Finance/by Craig J. CantoniA recent article in the Wall Street Journal got me thinking about the passbook savings accounts of my long-ago youth. The article said that kids today don’t want their parents to give them cash for allowances and doing chores. They want to be paid in Robux, which is an online currency from Roblox Corp. Kids […]
$1,768 a Month, with $10,407 Down, 5% APR, on a Ford Pickup?
/in Economy, Featured, Personal Finance/by Wolf RichterAutomakers need to do some serious navel-gazing about price levels and going upscale, if they want to sell more vehicles. To illustrate the data we’re going to look at in a moment, I “built” a 2023 model year F-250 Lariat on Ford’s website: MSRP $104,070. I could build something more expensive in the F-350 lineup. […]