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L.A. fires nowhere near contained: So far, at least 10 people have been killed by the wildfires in and around Los Angeles. More than 35,000 acres have been consumed, and more than 10,000 structures destroyed. Wind speeds had lessened last night, only to pick up again this morning, with gusts reaching 81 miles per hour in L.A.’s northern mountains. A new fire broke out last night, named the Kenneth fire, in the West Hills. The Palisades fire and Eaton […]
As some of you may recall, in 1492 Columbus sailed the ocean blue. He found an exciting new world full of gold and silver. And the Spanish spent the next couple hundred years pretty much exclusively using that new gold and silver to 1) buy themselves stuff 2) invest in getting more gold and silver from the new world. This caused a level of inflation that destroyed Spain since there wasn’t much incentive in making the stuff they […]
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Ryan Bourne A big challenge in writing about economics in Britain is the urge to analyse everything through a political lens. Macroeconomic weakness gets ascribed overwhelmingly to the tax and spending policies of governments. If an industry falters, we invariably blame ministers and shout for them to “do something”. Quite often, we talk up the state of the public finances as if they alone define the country’s economic health. , Sound government budgeting matters, obviously, but in the […]
Doug Bandow Peace was once the objective of American statesmen. Today, however, virtually everyone in Washington seems to favor war. So it is with the Russo–Ukrainian conflict. Donald Trump’s desire to end the fighting has caused barely suppressed horror. , Unfortunately, if, as rumored, he hopes to achieve peace by threatening Russia with a massive increase in aid to Kiev, his effort is bound to fail. More support won’t remedy Ukraine’s greatest weakness: manpower. More money would, however, […]
Sophia Bagley and Ryan Bourne This year kicks off with minimum wage hikes across 21 states. Economists have long documented that while minimum wage increases often boost wages for those who remain employed, there are no free lunches. Extensive research shows minimum wage increases to high levels tend to hurt new and low-skilled workers as businesses respond by cutting hours or hiring opportunities. , Moreover, newer research has found that businesses may use other margins of adjustment to […]
This week, we speak with Brian Hurst, the Founder and Chief Investment Officer of ClearAlpha. Prior to founding ClearAlpha, Brian spent 21 years at AQR Capital Management as a portfolio manager, researcher, head of trading, and the firm’s first non-founding Partner. He was also Cliff Asness’ first hire at GSAM. Hurst was instrumental in designing and implementing AQR’s trading platform. As a senior portfolio manager, he was in charge of over $15 billion in hedge fund assets. He brought […]
