Over Half Of America's Largest Cities Are Seeing Home Price Declines

Global Demand Destruction: Subsidies, Empty Gas Stations, Rationing, Flight Cancelations, Export Limits, Price Controls In the past two weeks we have discussed demand destruction as a result of soaring oil prices (here and here), and we are increasingly seeing anecdotal evidence of just that (here is a table from Goldman we showed previously, laying out where demand destruction is most acute). We start, as always, with Asia which has emerged as ground zero of the global energy crisis - as a reminder last week we first presented a map by JPMorgan's...

Germany's Elites Demand "Location Patriotism" As Green Industrial Policy Unravels Submitted by Thomas Kolbe As social glue and as a bond tying the individual to a higher purpose of existence, patriotism has acquired a dubious reputation in Germany after decades of culture war. The United Left has succeeded in amalgamating this binding and integrating cultural ferment with the historical catastrophes of National Socialism, imperialism, and chauvinism, ultimately banishing it from the nation’s self-understanding. Today, the patriot is regarded as a social outsider, a contrarian, an intolerant antagonist of humanistic values. The mills of...

Musk, Altman Court Battle Commences Over The Future Of OpenAI Authored by Beige Luciano-Adams via The Epoch Times, A contentious battle years in the making between Tesla owner Elon Musk and OpenAI CEO Sam Altman begins this week before a federal court in Oakland, California, where nine jurors will be asked to decide whether Altman and others betrayed OpenAI’s founding mission as a nonprofit artificial intelligence (AI) lab dedicated to the public good. The outcome could have a profound impact, not just for OpenAI—the creator of ChatGPT, currently valued at $852 billion...