Post 331: The World Works… Until Debt Takes Over

• 49% of the homes sold in the US this year were under the price of $400,000
  • Up from 43% in 2023.
• Shooting deaths in New York City are at an all-time low.
  • But shooting up is still a problem.
• Headline inflation in Canada excluding energy seems to be stabilising.
  • But core inflation remains elevated.
• Canada’s income gap hits a record.
  • The top 40% account for 66% of after-tax income.
    • And 86% of net worth.
• Financial Ructions:
  • Margin debt is at a record but short selling can impact this.
    • And yes, the absolute number does matter.
  • Another look at how the US stock market is very expensive.
  • The recovery rate so far on Chinese offshore property bonds is less than 1%.
• We finish our review of the book The Way the World Works by Jude Wanniski.
  • We look at why emerging economies followed developed economies in adopting Keynesian economics.
    • Resulting in an explosion of global debt which both Adam Smith and Karl Marx warned about.
    • And he reminds us that production must come before consumption.