Subsidizing Higher Education Is Not Creating Widespread External Benefits

A Russian tanker carrying liquefied natural gas in the Mediterranean Sea was attacked before sinking. Moscow says Kiev used underwater drones in the attack.  The Arctic Metagaz was hit on Tuesday, causing a fire to break out. The Russian state media outlet TASS reported that all 30 crew members on board are safe. The Russian […]

Existing US Home Sales Plunged In March, Despite Falling Mortgage Rates Affordability-aiding lower mortgage rates battled a sentiment-sapping surge in geopolitical panic in March, with analysts expecting the latter to outweigh the former with a modest 0.7% MoM decline (after January's plunged - weather? - and February's modest rebound). The analysts under-estimated the fear from war-mongering as existing home sales plunged 3.6% MoM (down bigly from an upwardly revised 2.7% MoM jump in Feb). That is the second biggest drop in existing home sales since Nov 2022... Source: Bloomberg That dragged Existing Home...

The US Treasury Department has relaxed its sanctions on Venezuela’s oil sector, allowing American companies to engage in certain transactions with the country’s state-owned energy firm. In a general license issued on Wednesday, the Treasury outlined broad exemptions for the US oil sanctions, which had prohibited most trade with Caracas’s state-run oil company, Petróleos de […]