Daily Economy
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Existing Home Sales Fall Again
“Existing-home sales fell again in September as reduced affordability pushes buyers out of the market. The outlook for housing is unfavorable.” ~ Robert Hughes
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Rising Inflation Expectations Pose a New Threat to Fed Efforts
“Herding, of sorts, may thwart the effects of contractionary monetary policy measures to some degree. The Fed has a tough job ahead of it, one which may have just become a bit tougher.” ~ Peter C. Earle
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Initial Claims Suggest Continued Strength for the Labor Market
“Weekly initial claims fell, and the low level suggests the labor market remains solid. Rapid price increases and aggressive Fed tightening remain major risks for the economic outlook.” ~ Robert Hughes
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“GramXi,” China, and the Long March through Multilateral Institutions
“The ITU proceedings matter for liberty and privacy against the rise of Chinese tyranny and its long march through multilateral institutions. GramXi, indeed.” ~ Dominique M. Lazanski and Nikolai G. Wenzel
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Getting W.H. Hutt’s Life And Work All Wrong
“Their argument falls apart under scrutiny. The version of Hutt they present is like the version of Buchanan that MacLean presents in her book Democracy in Chains: an unrecognizable caricature.” ~ Art Carden
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Concocting Crises
“The most dire crisis of all may very well be the ability of those seeking to usurp power to create the appearance of crisis from mere bat viruses, lucky strikes, and statistical shadows.” ~ Robert E. Wright
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Single-Family Starts and Permits Continue to Fall as Mortgage Rates Rise
“Single-family housing starts and permits fell again in September as demand continued to weaken. Plunging homebuilder sentiment suggests an unfavorable outlook for housing.” ~ Robert Hughes
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On Some of the More Difficult Questions About Trade Policy, Continued.
“Reality is messy. It seldom presents to us ‘solutions.’ Much more often we are confronted only with trade-offs. Principled and informed defenders of a policy of free trade accept this fact. I wish that more defenders of protectionism did likewise.” ~ Donald J. Boudreaux
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Cities Sidestep Property Rights With This One Trick
“If the goal is to fix a city’s image, attacking safe, ordinary small businesses is not the way to achieve it. Regardless of the excuses, amortization is ugly. U-Hauls look beautiful in comparison.” ~ Daryl James & Bob Belden
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Industrial Output Increases to a Record High in September
“The industrial sector grew in September, posting record output. However, elevated price pressures, weak consumer sentiment, and an aggressive Fed tightening cycle remain risks. Caution is warranted.” ~ Robert Hughes
-
•
Existing Home Sales Fall Again
“Existing-home sales fell again in September as reduced affordability pushes buyers out of the market. The outlook for housing is unfavorable.” ~ Robert Hughes
-
•
Rising Inflation Expectations Pose a New Threat to Fed Efforts
“Herding, of sorts, may thwart the effects of contractionary monetary policy measures to some degree. The Fed has a tough job ahead of it, one which may have just become a bit tougher.” ~ Peter C. Earle
-
•
Initial Claims Suggest Continued Strength for the Labor Market
“Weekly initial claims fell, and the low level suggests the labor market remains solid. Rapid price increases and aggressive Fed tightening remain major risks for the economic outlook.” ~ Robert Hughes
-
•
“GramXi,” China, and the Long March through Multilateral Institutions
“The ITU proceedings matter for liberty and privacy against the rise of Chinese tyranny and its long march through multilateral institutions. GramXi, indeed.” ~ Dominique M. Lazanski and Nikolai G. Wenzel
-
•
Getting W.H. Hutt’s Life And Work All Wrong
“Their argument falls apart under scrutiny. The version of Hutt they present is like the version of Buchanan that MacLean presents in her book Democracy in Chains: an unrecognizable caricature.” ~ Art Carden
-
•
Concocting Crises
“The most dire crisis of all may very well be the ability of those seeking to usurp power to create the appearance of crisis from mere bat viruses, lucky strikes, and statistical shadows.” ~ Robert E. Wright
-
•
Single-Family Starts and Permits Continue to Fall as Mortgage Rates Rise
“Single-family housing starts and permits fell again in September as demand continued to weaken. Plunging homebuilder sentiment suggests an unfavorable outlook for housing.” ~ Robert Hughes
-
•
On Some of the More Difficult Questions About Trade Policy, Continued.
“Reality is messy. It seldom presents to us ‘solutions.’ Much more often we are confronted only with trade-offs. Principled and informed defenders of a policy of free trade accept this fact. I wish that more defenders of protectionism did likewise.” ~ Donald J. Boudreaux
-
•
Cities Sidestep Property Rights With This One Trick
“If the goal is to fix a city’s image, attacking safe, ordinary small businesses is not the way to achieve it. Regardless of the excuses, amortization is ugly. U-Hauls look beautiful in comparison.” ~ Daryl James & Bob Belden
-
•
Industrial Output Increases to a Record High in September
“The industrial sector grew in September, posting record output. However, elevated price pressures, weak consumer sentiment, and an aggressive Fed tightening cycle remain risks. Caution is warranted.” ~ Robert Hughes