Stephen Mihm

Sorry, Home Sellers: The 6% Commission Isn't Going Anywhere

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The settlement by the National Association of Realtors fueled speculation about the end of hefty payouts for agents. History suggests that's a misread.

ChatGPT Sounds Exactly Like Us. How Is That A Good Thing?

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Programmers have succeeded in making computers more like people, but we still don't have the secret to human consciousness.

Strong Dollar Always Clobbers Developing Nations

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When the dollar appreciates, the cost of servicing debt in other countries can become unsustainable.

This Wedding Boom Could Lead To A Bad Hangover

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History indicates that marriages are stronger when consummated during troubled rather than boom times.

Will Gundlach And Others Really Flee High-Tax States?

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A lot of people dream of leaving New York and California and saving a ton. But it takes more to get them to actually do it.

Markets Aren’t Great At Handling Contested Elections

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When the Florida recount consumed the U.S., traders struggled to navigate the extraordinary level of uncertainty.

Tax Revolts Aren’t Out Of The Question

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When states and cities tried to raise revenues during the Great Depression, they sparked a furious backlash.

The Death Of Brokerage Fees Was 50 Years In The Making

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In the late 1960s, some iconoclastic reformers started a campaign to kill off fixed brokerage fees.

Never Say Never to Forever Bonds

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Ultra-long debt is gaining in popularity. Why stop there?

A Recession Signal Is Hidden In U.S. Bond History

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Ten-year Treasuries may hold the key to predicting the severity of downturns.