News
The Snowballing U.S. Rental Crisis Is Sparing Nowhere And No One
A Las Vegas bartender coping with a recent cancer diagnosis is fearing eviction. A young professional in Tucson is skipping car payments to afford her higher rent. A researcher in Miami signed the lease for her new apartment sight unseen. Rental costs in the US are soaring at the fastest pace in more than three decades, surpassing a median of $2,000 a month for the first time ever and pushing rents above pre-pandemic levels in most major cities. Increases are particularly steep in metropolitan areas that saw large influxes of new residents during the pandemic, but the rental market is sparing almost nowhere and no one.
Ex-JPMorgan traders cleared of racketeering, found guilty of fraud
Three former JPMorgan Chase & Co employees were acquitted of racketeering and conspiracy charges in a landmark futures manipulation trial on Wednesday, although two were found guilty on other charges including fraud, a Department of Justice spokesperson said.
U.S. productivity posts biggest ever annual drop in second quarter
U.S. worker productivity in the second quarter fell at its steepest pace on an annual basis since 1948 when the Labor Department began tracking it, while growth in unit labor costs accelerated, suggesting strong wage pressures will continue to help keep inflation elevated.
There’s Nothing Like a Train - by Bryan Caplan
“Air travel is hell” is poetry, but every air traveler can relate to the poem. To be an air traveler is to be chastised, checked, re-checked, queued, re-queued, examined, insulted, questioned, and re-questioned. When you fly, you are treated like a child, a criminal, an idiot, a malingerer, a delinquent, a smuggler, a captive, and of course a terrorist. When was the last time you heard
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