What we’re reading (3/27)
“Markets May Be Entering A ‘Lost Decade' For Global Economic Growth Amid Financial Instability And High Inflation, World Bank Says” (Insider). “In a Monday report, World Bank economists estimated that the global economy's potential growth rate could average 2.2% for the rest of the decade. By comparison, in the early 2000s, that measure was 3.5%, and it was 2.6% for the most recent decade.”
“How China Keeps Putting Off Its Lehman Moment” (New York Times). “[I]nstead of introducing reforms to establish a healthy market-based economy in which inefficient businesses are allowed to fail, China’s Evergrande-style fixes — while defusing short-term crises — reward irresponsible behavior and perpetuate the excessive borrowing and wasteful use of funding that leads to recurring financial distress.”
“A Tale Of Two Housing Markets: Prices Fall In The West While The East Booms” (Wall Street Journal). “In all of the 12 major housing markets west of Texas, plus Austin, home prices fell in January on an annual basis, according to mortgage-data firm Black Knight Inc.’s home-price index. In the 37 biggest metro areas east of Colorado, except Austin, home prices rose year-over-year.”
“American Cities With The Highest Property Taxes” (Construction Coverage). Rochester, NY is #1 on the list for large metros.
“A Simple Heuristic For Distinguishing Lie From Truth” (Verschuere, et al., Nature Human Behaviour). “One of the reasons that people perform poorly when trying to detect deception is the difficulty of integrating multiple cues into a binary judgement. A simple heuristic of only judging the level of detail in the message consistently allowed people to discriminate lies from truths.”
