ECONOMICS

Transforming vacant office buildings into apartments was supposed to solve so many problems, however the reality of doing so has been anything but straightforward.

This 1989 building near the White House was once occupied by the Department of Justice. Photograph by Evy Mages

In 2022, less than 1% of apartments built via new construction were created via office conversions, according to the Wall Street Journal, citing data from RentCafe. The dismal figures were attributed to (more…)

Via SchiffGold.com,

President Biden keeps saying the economy is great.

Fed officials say the economy is expanding at a “strong pace.”

Peter Schiff isn’t buying the narrative.

He says we may already be in a recession and he made a strong case in his podcast.

Peter started with a deep dive into the October non-farm payroll report. He said threw cold water in the face of the “we have a strong labor market” narrative. Strong job reports have (more…)

Authored by Daniel Lacalle,

The Eurozone economy is more than weak. It is in deep contraction, and the data is staggering.

The Eurozone Manufacturing purchasing managers’ index (PMI), compiled by S&P Global, fell to a three-month low of 43.1 in October, the sixteenth consecutive month of contraction. However, European analysts tend to ignore the manufacturing decline using the excuse that the services sector is larger and stronger than expected, but it is not. The (more…)