One of the more interesting developments of the electronic age of money has been the rise of Bitcoin, a decentralized digital currency. If you’re not familiar with it or you’re confused by what bitcoin is, you’re not alone. It’s actually a fairly sophisticated and complex form of money. That’s right, bitcoin is money.
I was reading this report from Zillow on the future of home prices and it got me thinking about some of the macro trends in real estate. I’ve turned much more constructive on housing in the last year than I had been for the past 5-6 years. Before about 12 months ago I wouldn’t have… Read More
I was watching this video on Yahoo Finance this morning with Jim Rickards of Austrian economics fame. He calls the low interest rate policy of the Fed a “tax on savers”: “[Interest payments] would have gone into the pockets of savers so they could invest and spend – people rely on it for their… Read More
You probably thought the boom/bust cycle experiment that started with Alan Greenspan was over when Ben Bernanke came to the Fed. Or maybe you weren’t that naive to begin with. Either way, Bernanke is implementing very similar and in my opinion, dangerous economic policy. When Greenspan was head of the Fed, he made it well… Read More
I noticed this story on Owners Equivalent Rent on the Atlanta Fed’s blog today. It discusses the rationale behind using what the Bureau of Labor Statistics calls “Owners Equivalent Rent” in their CPI calculation. Specifically, they say: “This begs the question: In light of the recent strength seen in the housing market—and notably the… Read More