Reparations for Black Americans ‘could finally lead to closure’: Sandy Darity
Black Americans whose ancestors were enslaved have been excluded from full citizenship in the United States for the last 247 years — and granting them full citizenship will cost between $13 trillion and $14 trillion, economist William “Sandy” Darity told a conference of fellow U.S. economists last week. To see the impact of second-class citizenship […]
How the Fed is ‘collapsing’ real estate activity with higher interest rates
U.S. real estate has undergone a dramatic slowdown in transaction activity in the months since the Federal Reserve began jacking up interest rates. Sales of existing homes plunged from peak pandemic levels to about 4.1 million in November (see chart) from over 6 million units sold per year in 2021 as the Fed has dramatically […]
Eurozone risks are still tilted to the downside – Credit Agricole
This is via the folks at eFX. For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. Get it here. Credit Agricole discusses EUR/USD outlook and maintains a cautious bias over the coming weeks. “The positive […]
Holy high rollers: phony pastors targeted immigrants in $28 million Ponzi scheme
“I’m everything you imagine me to be, as long as it’s good and it’s Godly.” That’s how Dennis Jali, a South African self-proclaimed finance guru sold his Christian-themed program of financial success to crowds of mainly African immigrants at churches and banquet halls in and around Baltimore and Washington, D.C. But while Jali claimed he […]
Swiss National Bank estimates it’ll record $143 billion loss
The Swiss National Bank on Monday estimated it will lose 132 billion francs ($143 billion) for 2022, reportedly the largest in its history. The central bank, which unlike most others is an active investor in stock markets, said it’s estimating a 131 billion franc loss on foreign currency positions, and a 1 billion loss on […]
Globalization is not dead, but it is facing a big tail-risk, expert says
Reports that globalization is dead are overstated, a top economist says. Conventional wisdom has it that globalization will suffer in the aftermath of the pandemic and Russia’s war in Ukraine. The Biden White House’s move to reshore manufacturing and to deny China access to advanced technologies are seen as further steps away from a robust […]
‘Markets are going to get rocked’ as Fed is likely to push rates higher, economist warns
The Federal Reserve is likely to raise interest rates more than the markets now expect, says Ricardo Reis, an economist at the London School of Economics. “Markets are going to get rocked,” Reis told MarketWatch on the sidelines of the American Economic Association annual meeting in New Orleans. “All the risks are on the upside. […]
I met my wife in 2019 and we married in 2020. I put her name on the deed of my $998,000 California home. Now I want a divorce. What can I do?
Dear Quentin, I bought my home in California for $520,000 in 2017. It’s now worth $980,000. In 2019, I met my now-wife who moved in at the beginning of 2020. We married six months later in July 2020. Things were going great and we decided to have one bank account. I also added my wife […]
‘He is financially secure and owns two homes’: I finally met the man of my dreams, but he treated our waitress like dirt and tipped her 10%. Am I overreacting?
Dear Quentin, I’ll keep this short, as I don’t take any pleasure in reliving it. I have corresponded with a man for two months on a dating site that shall remain nameless (except to say it starts with T and ends in R). He had a very strong and decisive personality, which I liked, and […]
‘I can no longer be an executive at a high level’: Workers with disabilities, including long COVID, are finding their place as companies become more flexible
Dana Pollard started a new job at the end of 2022, after spending three years recovering from a 2019 stroke.Pollard, 56, lives in Fort Worth, Texas, with his wife. After the stroke, he could not recognize her. He couldn’t remember things, and one side of his body was partially paralyzed. After months of physical and […]