Because much of this wealth is tied up in stock, society benefits not via compulsory redistribution, but rather through discretionary benevolence (i.e., charity) or else
Day: October 26, 2021
Consumers Shrug Off Inflation, Get Marginally Happier
Maybe the US consumer isn’t feeling so terrible after all. Despite an underwhelming preliminary read on the University of Michigan’s sentiment gauge for October, a
Median New Home Price Hits $409,000 As Sales Surge
New home sales were more robust than expected in September, data out Tuesday showed. Sales of new, single-family homes ran at a seasonally adjusted annual
The Real Takeaway From Tesla Fireworks
At regular intervals, I feel compelled to remind market participants that things don’t really work the way most people think they do. As I put
China Tells Evergrande Founder To Pay Debt With Personal Wealth
China has an idea for Evergrande. Hui Ka Yan should help pay the company’s debt. Out of his personal wealth. It’s a novel idea. Billionaires
