The Economist (October 22)
“House prices are now falling in nine rich economies…. In condo-crazed Canada homes cost 9% less than they did in February. As inflation and recession stalk the world a deepening correction is likely.” Falling home prices are unlikely to lead to a global banking crisis, but “it will intensify the downturn, leave a cohort of people with wrecked finances and start a political storm.”
Tags: Banking, Canada, Condo, Correction, Crisis, Deepening, Downturn, Falling, Finances, House prices, Inflation, Intensify, Political storm, Recession, Rich economies, Wrecked
Washington Post (August 11)
“If the economy is in a rut, the party in power usually tries to maximize the power of incumbency to improve conditions before an election,” but these are strange times. “This White House and the current Senate Republican majority… are doing everything in their power to minimize or even prevent a stimulus deal.” Perhaps “Trump still does not understand he has wrecked the economy.” Come November, it looks like “he and a whole lot of Republicans are going to join the list of the unemployed.”
Tags: Economy, Election, Incumbency, Majority, Power, Prevent, Republican, Rut, Senate, Stimulus deal, White House, Wrecked
Chicago Tribune (May 15)
The Coronavirus presents major challenges—a “wrecked economy, less office space demand, scarce financing”—to Chicago’s megadevelopments, calling in question whether many “can continue, if they’ll be pushed into the next construction cycle, or worse, go the way of the never-built Chicago Spire and Miglin-Beitler Skyneedle.”
Tags: Challenges, Chicago, Chicago Spire, Construction cycle, Coronavirus, Demand, Economy, Financing, Megadevelopments, Miglin-Beitler Skyneedle, Office space, Wrecked
Foreign Policy (June 13)
The Tory party has “bravely put party before country” and their “internal fights” have virtually “wrecked the U.K.” Any achievements the conservative “government might claim—record numbers of people in work, a ‘balancing of the books’—have been completely overshadowed by Brexit, a farce produced as a direct result of internal Tory squabbling and dissension.”
Tags: Achievements, Brexit, Conservative, Farce, Government, Overshadowed, Squabbling, Tory, U.K., Wrecked
