Beware of the media inflating the bitcoin bubble on January 8, 2018The price of bitcoin has soared from $1,012 a year ago to $15,417 last week – tempting people to risk their savings to grab a piece of the riches. Regulators are reacting, but no law can protect everyone against their own bad judgment. What’s bitcoin? Remember the little girl who, six years ago, ran up […]
Building a mortgage meltdown for the rental market on July 31, 2017Is the private sector allowed to do anything anymore? For nearly 80 years, Washington has subsidized homeownership – creating massive distortions both in house prices and in what neighborhoods look like. Now the feds will subsidize rental homes as well – expanding government control over even more of the economy. The American home-buying world doesn’t […]
What’s really behind the MTA’s money woes on July 30, 2017AS subway riders suffer through train delays and packed cars, the political class has hit upon the easy fix: more money. Gov. Andrew Cuomo wants the city to give more, while Queens Sen. Mike Gianaris wants a new tax on millionaires. But if the first $15.6 billion a year doesn’t help, how much will? A […]
Whole Foods has been forgetting the customer on June 25, 2017Whole Foods chief John Mackey has finally lost control of his company, which he calls his “baby.” Friday, he sold it to Amazon for 25 percent less than its 2015 value. Irony is, Mackey could’ve avoided this outcome if he’d stuck to the principles of “conscious capitalism” he espouses. For two years, investors have pressured […]