The US equity markets are mostly at or near all time highs. The SPX P/E ratio is around 31, according to something I read, although measuring this is probably tricky as headline earnings are almost never GAAP now, but “adjusted.” It seems hard to believe …
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Wall St on Parade has done a thorough job of eviscerating Rob Kaplan. To quote Ben Hunt, they are not even pretending any more. It just seems insane that someone in his position was trading futures, in large size, while being in possession of …
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Transparency International maintains a league table of corruption. It’s the the sort of league table one doesn’t want one’s home country to be at the top of. To be fair, there are many countries which are less transparent than the …
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This article runs through a number of explanations of how 30MM US American men can live without being in the formal workforce. There is nothing very extraordinary about the ways: basically, the black economy is probably bigger than you think, and quite a few people …
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Various reflation skeptics, such as Lacy Hunt, Harley Bassman, Jeff Snider have been saying that inflation is going to crater. As I blogged a while ago, the increasing inequality in the US and elsewhere has caused the propensity to spend to plummet. In my …
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When I was a kid, Dominick Harrod would have a slot on the six o’clock BBC news explaining the latest twists of the economy. He dutifully reported the latest trade figures, always pointing out how important “invisibles” were to offsetting some of …
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Harvey Bassman has written a nice short tutorial on how mortgage REITs work. You can read it here (pdf). He focusses on the non-linear response of the value of the security to interest rates. These things are pretty high risk, but if you think that short …
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Most EVs weigh in excess of two tonnes.
In comparison, the kerb weight of the old Renault 4 (admittedly, a flimsy car) could be as low at 600kg, 30% of the