Creepy: Bond yields are still low but creeping higher.
When the Tide Goes Out: Rating agencies in China are basically 100% full of shit.
Median Versus Mean: Household net worth is recovering and yet consumption is still sluggish. The key to this riddle could be the matter in which average household net worth is calculated.
Record High: The US housing market surpassed it’s 2006 pricing peak (at least in nominal terms). However, Nobel Nobel laureate Robert Shiller argues that the housing market is not rational. Part of the reason for this is that the housing market is very difficult to bet against in an effective manner.
The Law of Unintended Consequences: New minimum wage laws in Seattle have some non-profit employees asking for LESS hours. Why? Because the new Seattle minimum wage potentially disqualify them from subsidized housing but still not provide enough income for a market-rate apartment. (h/t Tom Reimers)
Airlines Suck: want more proof that airlines are awful? They are finally making a profit and are doing it by raising fees and generally making the travel experience even more miserable than before.
Not Funny: Twitter is now going after joke plagiarizers on copyright grounds which is an interesting business decision since joke plagiarizing makes up roughly half of what Twitter is used for.
Food Frenzy: Why California bagels suck.
Chart of the Day
The rise of the tech industry since the last bust in 2000 has been nothing short of epic
Brilliant: San Francisco now have walls that pee on you if you pee on them.
Move Over Marion Barry: Britain has it’s own coke-snorting, hooker-loving politician.
Florida Name Hall of Fame: If your parents name you Chrystal Metheney, aren’t you basically destined to do something like this? (h/t Carl Fowler)
Landmark Links – A candid look at the economy, real estate, and other things sometimes related.
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