What I'm Reading No Slack: Nearly every economic issue that we are currently experiencing is a result of the lack of slack in our system being a feature and not a bug. David Merkel sums the conundrum up perfectly: There's not enough slack in the system. We need more redundancy....
May 20th – Shock Absorber
What I'm Reading Shock Absorber: Normal recessions often produce a vicious cycle of foreclosures. When rents and property values fall, building owners stop paying their mortgages and lenders foreclose, pushing prices into a further downward spiral. That hasn’t happened in this cycle as regulators allowed bank to delay loan payments...
April 7th – Light the Fuse
What I'm Reading Light the Fuse: After a decade-long drought, worker productivity might be about to accelerate thanks to pandemic-induced technological adoption, which could lift economic growth and wages in coming years while staving off inflation pressure. Companies made massive investments in technology, automation and videoconferencing software over the past...
January 12th – Fallout
What I’m Reading Fallout: CoStar is estimating that the reckoning from COVID will eventually result in $126 billion of distressed real estate sales with a heavy concentration in lodging and retail. However, with an estimated $200 billion of capital raised to capitalize on such an opportunity, it is difficult to see...