Interactive map of the swathes of England owned by offshore tax-dodgers

Whole regions of England are now owned by holding companies in tax-havens "from Panama to Luxembourg, and from Liechtenstein to the South Pacific island of Niue." Read the rest

Real estate bubble drives urban blight

The West Village's unique identity made it one of the most valued real-estate spots in the world, which is why its bohemian tenants are being forced out by landlords who jack up the rent and leave the place empty until they can convince a multinational to sign a lease -- it's Mark Jacobs versus Jane Jacobs. Read the rest

Live in a San Francisco Ikea bunk-bed in a mass hacker dormitory for a mere $1k/mo

Here's a Craigslist ad for a "hub for entrepreneurs" where you can be barracked in one of dozens of bunk-beds ranked in rows for a mere $999/month. But you also get access to plenty of whiteboards and brainstorm areas, and will no longer have to endure the misery of "hop[ping] from coffee shop to coffee shop" as you seek to launch your tech business.

When I moved to San Francisco in the late nineties, I lived in half an illegal sublet for about $2K/month, and that was a deal by the standards of the day. But I had it better than the guy paying $800/month for the Sears shed in the back-yard -- I got a toilet! Read the rest

Should you short the London property bubble?

Economist Tim Harford answers my question: How would you short the London property bubble? in a column that also asks the important question: should you? Read the rest

Bubblenomics: how the Beanie Babies speculators got it wrong

Buzzfeed's Hunter Schwarz revisits 1998's "Scholastic Beanie Baby Handbook," which predicted values of Beanie Babies in 2008, and compares them to the current-day eBay clearing price for these same speculative items. For example, the Stripes the Dark Tiger doll, which retailed for $5 and traded for $250 in 1998 was predicted to rise to $1,000. Today it can be had on eBay for $9.95. And the $4,000-$5,000 estimated 2008 value for the Violet Teddy was also way off, though Violet is today a $700 item ($700 was also what it traded for in 1998).

How Much Beanie Babies Were Predicted To Be Worth Vs. How Much They’re Really Worth (via Digg) Read the rest

Interview with Suicide Girls about Homeland, the sequel to Little Brother

My next novel, Homeland (the sequel to Little Brother) is out in a few weeks, and I recently sat down with Nicole Powers from Suicide Girls for an interview about the book and the issues it raises, especially the student-debt bubble:

When it was just rich people going, it wasn’t about just getting a better job, because you were already rich, you already had the entré into the better job. You could already do unfunded apprenticeships and your parents’ friends were the people offering you the unfunded apprenticeships. You had a good five ways within the system. But now it’s a market transaction, and once it’s a market transaction we start applying cost benefit analysis to it. We start saying, well if the university degree earns you so many pounds, then it makes sense to start talking about you paying so many pounds. And if the objective here is to take people whose lifetime income expectancy was so many pounds, and make it a little bit higher –– which is what we call social mobility –– then why shouldn’t that be a virtuous cycle and they pay back into it. That way the university can expand the number of students they take on and all the rest of it, right?

The problem with that is that it’s become a Ponzi scheme, especially in America. We haven’t quite gotten there here. But in America, you have this crazy thing where it is somewhat true and it’s also universally received as true, that you can’t get a good job without a university degree.

Read the rest


Hysterical bubbles! (original) [Video LInk] Read the rest