New 20+ year record high mortgage rates begin to impact home sales; bifurcation in new vs. existing home prices continues  – by New Deal democrat In addition to updated reports on new home sales and prices, and existing home prices this morning, there’s some very important news on mortgage rates. Namely, at 7.51%, mortgage rates are the highest they have been since December 2000. Here’s what they looked like through the end of last week:...

We do not measure the amount of pollution and costs incurring when products are transporting in a way having greater pollution and cost. This as measured against local products. A comment on Lloyd Alter’s piece discusses dough coming from Italy for pizzas? “I’m less concerned about this than that our major grocery chains. Currently, PC (store) has a “Hand Tossed in Italy” brand of pizza. So Canada ships our wheat to Italy to be processed, turned...

He saw this fundamental failing...

Hmm. Maybe Trump *does* have a point about the lying press after all. Here’s the Reuters headline:“Biden, Trump to woo union workers in Michigan as auto strikes grow”So where are Trump and Biden going to woo union workers?“Former President Donald Trump is scheduled to visit a Macomb County automotive supplier of engine and transmission parts Wednesday, the day after President Joe Biden is set to visit a United Auto Workers picket line in Wayne...

Are those who obtain more income better in some way, perhaps more intelligent than others? Are they luckier? According to Ludwig Von Mises, they are superior in intelligence: "The entrepreneur is the agency that prevents the persistence of a state of production unsuitable to fill the most urgent wants of the consumers in the cheapest way. All people are anxious for the best possible satisfaction of their wants and are in this sense striving after the highest profit they can reap. The...

from Steve Keen The key concept in Keynes’s summary was the impact of expectations upon investment, when those expectations were about what might happen in an uncertain future. Investment is undertaken to augment wealth, and yet the outcome of any investment depends upon economic circumstances in the relatively distant future. Since the future cannot be known, investment is necessarily undertaken on the basis of expectations formed under uncertainty. Keynes was at pains to distinguish...

The Senate is pretty much worthless. A dress code, you gotta be kidding me. What is this Omega Theta Pi? Dems really need to concentrate on the issues and lay into Repubs on their failure to pass a budget, etc. Why should Dems play nice when Repubs don’t. It is about time someone took a different stance. Fetterman is different than the normal arrivals in government. As far as Durbin, he gave a speech at Showdown in Chicago which I attended....

First-of-month transfers on Friday will boost market.

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