In my conversations with you, you’re telling me the real estate market is slowing down. That’s not to say there’s no one looking to buy. Demand is still hot in certain places. One client out in Jackson Hole said all the realtors are looking for bartending jobs. The tech bust might have something to do with it. Higher rates might be in play too. But overall, it could still be a lack of supply. Your Survival Guy’s been finding some good values with French Chardonnay that aren’t too oaky. One is by the glass at the Clarke Cooke House in Newport, RI. It’s a Castelbeaux, Vin de Pays, FR, for … [Read more...]
Archives for June 2022
Purchases of Gaming Chips for Crypto Mining Tailing Off
For a long time, the heart of the cryptocurrency mining industry has been Nvidia gaming chips, used by crypto "miners" for their computational power. Now that cryptocurrencies have lost much of their value, the prices of chips are falling. Bloomberg's Cecilia D'Anastasio and Ian King report: The turmoil in the cryptocurrency industry has ravaged portfolios and left large and small investors struggling to adapt. It’s also taken a toll on a corner of the tech world that once benefited from crypto’s rise: Nvidia Corp. graphics cards. Long popular with computer gaming nerds, these cards … [Read more...]
RURAL RENAISSANCE: America Finds the Country Again
You know that Americans are escaping the city. You've read here about their efforts to find a better life in America, away from the taxes, crime, and pollution of America's big blue cities. Americans have been happy to find new homes in long-neglected country towns where they can work from home and raise their children in safe, healthy communities. At The Wall Street Journal, Sarah Chaney Cambon and Andrew Mollica report on America's rural renaissance, writing: Even in the face of inflation and the risk of recession, the broad economic prospects for rural America may be looking up for the … [Read more...]
Are Google, Amazon, and Microsoft About to Crash This Specialized Real Estate Market?
Famed short-seller Jim Chanos is taking aim at a new market, data center real estate investment trusts. These trusts own big data centers, but, says Chanos, despite the data centers being at the center of the rise of cloud computing "the cloud is their enemy, not their business. Value is accruing to the cloud companies, not the bricks-and-mortar legacy data centres.” Harriet Agnew reports in the Financial Times: Short seller Jim Chanos is betting against “legacy” data centres that now face growing competition from the trio of tech giants that have been their biggest customers. Chanos, who … [Read more...]
Why Work When Taxes Take It All?
Your Survival Guy witnessed firsthand on my recent fact-gathering trip to Paris just how taxes can impact the labor force. Obviously, the business world is wiping the Covid crust from its eyes, but there’s a fine line between government assistance that creates value, and that which does not. When taxes are high, and assistance discourages work, there's much less incentive to rejoin the labor market. When speaking with locals in Paris, they told me some workers will never come back to the workforce if they can help it. Do they feel their taxes are allocated well? It’s a simple question. It’s … [Read more...]
Regulators’ Bungled Attempts to Cut Emissions Drove Oil Prices Higher
It wasn't Vladimir Putin. Instead, the bungled rollout of emissions standards and other energy regulations led to the high prices people are paying today, and until investment catches back up in the industry, prices are likely to remain high. That's the message being sent by ExxonMobil's CEO, Darren Woods, in an interview with the Financial Times. FT reporters Tom Wilson and Justin Jacobs report: ExxonMobil’s chief executive predicted a resurgence of investment in fossil fuel production as he blamed soaring oil and gas prices on pressure to move to cleaner energy at a time of relentless … [Read more...]
Your Survival Guy in Paris: Awakened from His Slumber, “Dad, I’m Going to London”
You know, it's the little things in life that matter. At Le Bristol Hotel, it's the ornate China used for your morning cappuccino. Or it’s the place setting that's perfectly adjusted to make room for a late arrival to your party, whose alarm apparently never went off, making it "no inconvenience at all monsieur/madame." A visit by Madame Marshall inquiring about your dinner the night before and plans for the day makes one feel as special as the most beautiful café setting in all of Paris. Talking with Jean Marie in the lobby before heading out to the rough and tumble St. Honoré gives you … [Read more...]
What Happens to Your Passwords When You Die?
Estate planning is something every serious investor should consider, but as technology extends the reach of your identity beyond the physical world, new challenges are arising. Who inherits your digital identity when you die? What is the value of your Facebook account? Do all heirs have the same level of access? These are questions that must be sorted out. Having a plan makes it easier. Dalvin Brown discusses estate planning issues for technology in The Wall Street Journal, writing: Just as you set up a living will or a power of attorney, it’s a good idea to set up your online accounts so … [Read more...]
Your Survival Guy: Clearing the Decks, Buying a Boat, Seeing the World and More
OK, some updates for you from Your Survival Guy to clear the decks. The new Grady White is in (engines too) and ready for delivery. It’s a Canyon 306 with twin Yamaha 300s. The name: Tom Sawyer. I’ll send you pics next week. Here’s how to buy a boat. Had lunch with clients yesterday here in Newport, RI overlooking the water on a beautiful June afternoon. We’ve been working together now for twenty years. Over that time, the relationship has expanded, through referrals, to six other relationships with their friends and family. If you feel someone you care about would like to talk with … [Read more...]
Is the Great Job Boom Over?
More companies are rescinding their job offers in expectation of a possible recession. Is this the end of the great job boom? Katherine Bindley and Angela Yang report for the Wall Street Journal: Businesses in several different industries are rescinding job offers they made just a few months ago, in a sign the tightest labor market in decades may be showing cracks. Companies including Twitter Inc. , real-estate brokerage Redfin Corp. , and cryptocurrency exchange Coinbase Global Inc. have rescinded offers in recent weeks. Employers in other pockets of the economy are pulling away offers … [Read more...]
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