Left Behind
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Fan Ho The Evening of Life 1963 “Forget Germany, Spain Is The Real Problem”, reads a headline. Eh… no. Germany is definitely the problem in E
[See the full post at: Left Behind]Trump didn’t really circumvent anything. He knew what to say to get barely enough flyover people to vote for him. Then went on to appoint Sessions, Mnuchin, Gary Cohn, and Rex Tillerson. Maybe keeping the swamp in place is a good environmental move.
Keep printing. It will keep the bubbles flying higher.
There is no bubble in Puerto Rico.
Can you afford to buy in Puerto Rico?The US Cities with the Biggest Housing Bubbles
For the good folks who hope fervently that the Fed doesn’t have reasons to raise rates or unwind QE because there isn’t enough inflation, here is an update on one aspect of inflation – asset price inflation, and particularly house price inflation – where the value of your hard-earned dollars has collapsed over a given number of years to where it takes a whole lot more dollars to pay for the same house.
The S&P CoreLogic Case-Shiller National Home Price Index for June was released today. It jumped 5.8% year-over-year, not seasonally adjusted, once again outpacing growth in household incomes, as it has done for years. At 192.6, the index has surpassed by 5% the peak in May 2006 of crazy Housing Bubble 1, which everyone called “housing bubble” after it imploded (data via FRED, St. Louis Fed):
Do make sure you read this, grasshoppers:
https://www.nytimes.com/2017/09/25/opinion/hurricane-puerto-rico-jones-act.htm
https://www.nytimes.com/2017/09/25/opinion/hurricane-puerto-rico-jones-act.html
The link was missing the “l” in the .html
I just read
Under the law, any foreign registry vessel that enters Puerto Rico must pay punitive tariffs, fees and taxes, which are passed on to the Puerto Rican consumer.
Someone is going to make a fortune off the relief efforts.
Food costs twice as much in Puerto Rico as in Florida. Jones Act relief will save many Puerto Ricans — especially children and seniors — from potential starvation. Jones Act relief will also enable islanders to find medicine, especially Canadian pharmaceuticals, at lifesaving rates. And it will give islanders access to international oil markets — crucial for running its electric grid — devoid of a 30 percent Jones Act markup.
There will be a lot more shit hitting the fan before its over.
There is a lot of ways to make money after a bubble burst.
The NYT is in la-la-land
” It is time for Congress to act ethically and responsibly and suspend the Jones Act in Puerto Rico.”
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