For the last several years there has been a conservative, libertarian meme that the drop in the savings rate did not matter because the growth in the value of peoples…

…of mortgage equity withdrawal on consumer spending. 3) Financial distress. Unemployment Last week’s post (Housing: After the Boom) looked back at the early ’90s housing bust. In that bust, housing…

…equity liabilities. The development of domestic financial markets is also linked to an increase in equity liabilities, and in particular, portfolio equity. In addition, larger foreign exchange reserves are associated…

…includes equity and debt instruments. The latter is based on intra-company borrowing. Historically, the equity component has registered a net positive position that outweighed the negative debt position. But the…

I have suggested (here and here) that idealism is leading progressives astray.  Unfortunately, climate policy offers many examples. Consider the Climate Equity Act of 2019.  The CEA was, I believe,…

…Financial Stability Report (see also here). The report showed that prior to the pandemic, bond portfolio inflows had been larger than equity portfolio flows, with cumulative flows since 2005 of approximately $2.5…

…Financial Stability Report (see also here). The report showed that prior to the pandemic, bond portfolio inflows had been larger than equity portfolio flows, with cumulative flows since 2005 of approximately $2.5…

…we should allow private equity in health care. Steward is just the latest example of private equity endangering communities, and I will be introducing new legislation in the Senate to…

…wealth effect is weak, because: 1. The top 20% of income recipients own 87% of equity assets. (Aside: the top 10% of wealthholders own . . . 87% of equity…

…out-of-pocket costs for patients. Private equity–driven billing practices: A fragmented health care system (combined with the rapid expansion of private equity ownership) has intensified out-of-network billing, balance billing and opaque…