Must Read: One third of people making $100k think that they are underpaid, according to new research. Going to go out on a limb here and assume that this is largely because $100k is not very much money to live off of in most markets where $100k salaries are common.
Help Wanted: The US manufacturing sector is firing on all cylinders but a lack of skilled workers is keeping a lid on the sector. See Also: The number of government workers as a percentage of the population continues to fall.
Minsky Moment: The US economy in the wake of the Great Recession is a textbook example of why instability is stabilizing and vice versa.
Much Ado About Nothing? Despite some flashy headlines about pulling forward of demand and yield cure distortion, pension demand for bonds is unlikely to evaporate after a Sept. 15 tax-break deadline.
Ghost Town: New York is one of the most affluent and dense cities in the world. However, nearly half of its storefront retail is vacant. The reason? To many units and landlords looking for sky-high rents.
Help Wanted: All of the new distribution buildings coming to market will require a lot workers to staff them, which is a problem in a tight employment market. Everything about this points to further automation.
Imagine That: A glut of rentals in some of the hottest US housing markets is leading to lower rents. It’s almost as if housing is not immune to the laws of supply and demand as NIMBYs would have you believe.
Organized: A new study found that those who participate in planning and zoning board meetings are older, wealthier and much more NIMBYish than the average resident. Consider this a reminder that opposition is almost always easier to mobilize than support.
Correction: Framing lumber prices have come down off of their recent record highs but are still up year-over-year.
Supplemental Income: Teachers are moonlighting as Instagram influencers, sometimes making double or triple their salary by promoting classroom resources and other products.
In the Crosshairs: Amazon is taking aim at the $88 billion online advertising market where it is emerging as a competitor to incumbents Google and Facebook.
Creative Destruction: Yes, self driving cars will destroy a lot of jobs. However, they will create a lot of jobs as well.
Chart of the Day
The divergence in trends between prime-age and total labor force participation continues to widen.
Source: The Daily Shot
Weenie Roast: An extremely intoxicated man accidentally set fire to his house while trying to bake cookies and answered the door naked when police showed up because Florida.
Boom Boom Room: A drunk woman flashing her boobs and giving lap dances on a plane flying to Ibiza sparked a brawl because England. Also, because Easyjet.
Crack Up: PETA is lobbying the Maine Department of Transportation to put up a roadside memorial to lobsters who died when a truck carrying the delicious crustaceans crashed and rolled over. Thankfully, the Maine DOT said no. Imagine leading a boring enough life where you chose to take this as your cause.
Landmark Links – A candid look at the economy, real estate, and other things sometimes related.
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