The hottest Economics Substack posts right now

And their main takeaways
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Top Business Topics

Daily Brief: Income Statements & Heat Engines

Math Meets Money • 1 HN point • 20 Aug 24
💼 Business Economics
  1. Every business operates on a basic principle: income equals revenue minus costs. This is like a simple equation that explains how money flows in and out.
  2. A business can be thought of as a heat engine where revenue is the input, total costs are the output, and net income is the useful energy left over to be used by the company.
  3. Businesses help organize and order capital, just like heat engines organize particles. Understanding these similarities can make it easier to grasp how businesses function.

Rising existing inventory in Texas and Florida

Erdmann Housing Tracker • 42 implied HN points • 06 Feb 25
💰 Finance Economics
  1. Rising home inventory in places like Texas and Florida doesn't always mean a bad market. It can show real demand or a strong market too.
  2. Many people wrongly believe that too many houses lead to market crashes, but actually, drops in demand usually cause these issues.
  3. In past downturns, like in 2008, price drops happened after demand decreased, not because of oversupply. Understanding this helps make sense of current housing trends.

Fannie and Freddie: Single Family Serious Delinquency Rates Decreased in May

CalculatedRisk Newsletter • 19 implied HN points • 01 Jul 25
💰 Finance Economics
  1. The serious delinquency rates for single-family homes have decreased slightly in May. This shows some improvement from the previous month.
  2. Fannie Mae and Freddie Mac's delinquency rates are still higher than they were last year, but they are below pre-pandemic levels.
  3. Multi-family delinquency rates are nearing their highest levels since 2011, not counting the pandemic, indicating some stress in that sector.

Fear of Affordable Housing

Erdmann Housing Tracker • 126 implied HN points • 22 Feb 24
💼 Business Economics
  1. Developers and builders fear the loss in the value of their land investments if political obstructions to construction were lifted.
  2. Rents are unlikely to decline significantly in a whole metropolitan area due to new housing supply - housing demand is inelastic.
  3. Invest carefully in real estate market based on real trends but don't let fears about collapsing rents impact your views on housing justice or macroeconomic trends.
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How To Market Like Seth Godin (Part Two)

Day One • 359 implied HN points • 21 Jul 20
💼 Business Economics
  1. Building a strong personal brand is essential for marketing success. Identify what you excel at and focus on teaching that to others.
  2. Be open to pivoting in your marketing strategies based on what will best serve your audience. Making a different promise when necessary can lead to more impactful results.
  3. Start before you feel ready. Taking action and learning along the way is crucial for progress. You don't need to have everything figured out from the beginning.

Behold The Era Of Fartcoin’s Majesty

QTR’s Fringe Finance • 47 implied HN points • 07 Jan 25
💰 Finance Economics
  1. Fartcoin, a joke cryptocurrency, has become surprisingly valuable despite having no real use or worth. It suggests that many current investments are just speculative bets.
  2. The rise of Fartcoin reflects extreme risky behavior in investing, turning financial markets into a sort of gambling game where people chase quick profits without understanding the risks.
  3. The situation hints at deeper issues in the economy, where excessive money printing and lack of market discipline could lead to a significant crash or a loss of confidence in financial systems.

China's Evergrande Mess

Diane Francis • 219 implied HN points • 18 Oct 21
💰 Finance Economics
  1. China is facing a big problem with its real estate market because of a crisis involving a company called Evergrande. This company has huge debts of $300 billion.
  2. This situation shows how tough it can be for big countries like China to handle major financial issues. They often manage to turn things around, but this crisis is particularly challenging.
  3. The Evergrande crisis could have serious effects not only for China but also for the global economy if it's not handled well. It's important to keep an eye on how this develops.

Fannie and Freddie: Single Family and Multi-Family Serious Delinquency Rates Increased in November

CalculatedRisk Newsletter • 47 implied HN points • 31 Dec 24
💰 Finance Economics
  1. In November, both single-family and multi-family serious delinquency rates went up. This means more people are having trouble paying their housing bills.
  2. Freddie Mac reported that the single-family serious delinquency rate increased slightly to 0.56%. Even though it rose, it's still lower than pre-pandemic levels.
  3. The overall trend shows that while delinquency rates are increasing, they are still relatively low compared to before the pandemic hit.

BRIEFLY NOTED: For 2024-02-14 We

Brad DeLong's Grasping Reality • 123 implied HN points • 14 Feb 24
🌍 World Politics Economics
  1. The COVID-19 depression and subsequent reopening have not generated consistent lessons for the future given its unique nature
  2. There are significant macro distortions in the current economy, including massive consumer spending shifts, supply chain disruptions, and job market imbalances
  3. Global warming continues to progress, as evidenced by alarming images and reports

The "Neutral" Rate and Implications for 30-year Mortgage Rates

CalculatedRisk Newsletter • 38 implied HN points • 18 Feb 25
💰 Finance Economics
  1. The neutral rate, which helps determine monetary policy, has increased back to levels seen before the financial crisis. This means current monetary policy might not be restricting the economy as much as previously thought.
  2. Some economists believe that the actual neutral rate is higher than expected, which could indicate that interest rates may not be as high as people fear.
  3. Fed Chair Powell agreed that the neutral rate has risen significantly since before the pandemic, suggesting a change in how we should view economic policy now.

Are Economic Worries Overblown?

Spilled Coffee • 36 implied HN points • 05 Mar 25
💰 Finance Economics
  1. The U.S. stock market is down, with the S&P 500 dropping 6% this year due to economic worries. Many people are feeling uncertain about the economy right now.
  2. Pending home sales in the U.S. have hit an all-time low, even worse than during the 2008 financial crisis and COVID-19. This is a significant sign of trouble in the housing market.
  3. There is a lot of volatility in the financial markets due to government changes and spending cuts, creating questions about whether current market conditions are a good buying opportunity.

Proof of Work: the choice between centralizing over time or insecure.

Senatus’s Newsletter • 19 implied HN points • 12 Jan 24
🔮 Crypto Economics
  1. Every Proof of Work coin must choose between specialized hashing, leading to centralization over time, or generalized hashing, resulting in a constantly insecure chain.
  2. Specialized hashing algorithms for Proof of Work require specific hardware, electricity, space, maintenance, and capital, leading to centralization over time.
  3. Generalized hashing algorithms allow more participation but can make the chain insecure due to the vast latent hashrate available for potential attacks.

Weight Loss Drugs Continue to Power Denmark's Economy

Apricitas Economics • 52 implied HN points • 01 Dec 24
💼 Business Economics
  1. Denmark's economy is growing mainly because of weight loss drugs like Ozempic and Wegovy. These drugs help people lose weight and improve health, leading to increased demand and exports.
  2. The pharmaceutical boom has made Denmark one of the fastest-growing economies in the EU, with a significant rise in drug exports to the United States. This growth has greatly benefitted Denmark's GDP.
  3. Despite the economic growth, many people in Denmark aren't feeling the benefits yet. Personal spending and investment have been stagnant, even though pharmaceutical manufacturers are earning more money.

Jiang Xiaojuan on further deepening economic reforms

Pekingnology • 60 implied HN points • 26 Oct 24
💼 Business Economics
  1. Economic reforms in China focus on creating a level playing field. This means all types of businesses should have equal chances to compete and get resources without favoritism.
  2. There is an emphasis on letting the market decide which businesses succeed or fail. This encourages efficiency and helps the best companies thrive while weaker ones are phased out.
  3. Aligning China's economic rules with international standards is important. This helps local companies compete better globally and supports further opening up the economy.

Is This the End of Low-Cost Airlines in the U.S.?

Gad’s Newsletter • 50 implied HN points • 09 Dec 24
💼 Business Economics
  1. Low-cost airlines in the U.S. are struggling due to rising costs and operational challenges. These airlines have smaller profit margins, making it hard to survive when problems arise.
  2. Successful low-cost carriers like Frontier and Southwest are adapting by adding premium options and changing their services. They’re evolving to meet customer demands while trying to keep their budget-friendly roots.
  3. In Europe, low-cost airlines are doing well thanks to higher population densities and a culture that accepts budget travel. This shows how different markets can impact the success of low-cost airline models.

On the Origin of Wealth

Living Fossils • 21 implied HN points • 28 May 25
💰 Finance Economics
  1. Wealth isn't just about physical things; it's also about people's beliefs. If people lose faith in the future, the value of things can disappear even if the items are still there.
  2. Changes in beliefs can lead to big shifts in wealth quickly. For example, if everyone thinks a company's profits will fall, its stock price can drop fast.
  3. Information spreads quickly today, which can impact beliefs and values even more rapidly. This can make economies volatile, as people's perceptions change almost overnight.

Economics and Evolutionary Psychology

David Friedman’s Substack • 143 implied HN points • 29 Nov 23
🔬 Science Economics
  1. Economics predicts individual behavior based on personal goals, while evolutionary psychology focuses on genes' goals for reproductive success.
  2. Evolutionary psychology sees the human mind as specialized modules shaped by Darwinian evolution for survival in hunter-gatherer environments.
  3. Behavioral inconsistencies in economics can be explained by beliefs in 'just prices' influenced by evolutionary psychology and ancestral trading practices.

The American Government Should Buy Spirit Airlines

JoeWrote • 51 implied HN points • 03 Dec 24
🇺🇸 U.S. Politics Economics
  1. The U.S. government should consider buying Spirit Airlines instead of constantly bailing out struggling airlines. This could help create a more affordable flying option for taxpayers.
  2. Creating a public airline would allow the government to focus on passenger welfare and lower fares, making air travel better for everyone.
  3. Countries like New Zealand and Finland already own airlines to serve their citizens. This idea isn't new and could be a step toward improving air travel in America.

How TikTok breaks economics [Finance Fridays]

Technology Made Simple • 59 implied HN points • 29 Oct 22
💰 Finance Economics
  1. TikTok struggles with profitability due to competition, lack of valuable data, and the expensive analysis of user behavior.
  2. The CCP's involvement in ByteDance enables them to fund TikTok despite losses for geopolitical influence, impacting the content promoted and the platform's sustainability.
  3. Banning TikTok may not address the root issues; education on health, mental wellness, skepticism, and maintaining real social connections are vital for healthier social media engagement.

The controversial ethics of Stock Buybacks [Finance Fridays]

Technology Made Simple • 39 implied HN points • 11 Feb 23
💰 Finance Economics
  1. Stock buybacks involve a company purchasing its own shares from the market, which can boost stock prices and reduce the number of shares in circulation.
  2. Stock buybacks are typically done by older, established companies with market dominance, in order to reward investors when they don't have resources for other investments.
  3. Controversies around stock buybacks arise from executives benefiting significantly from buybacks through stock options, while companies may conduct layoffs and seek government bailouts.

Rabbit Holes 🕳️ #125

Creative Destruction • 15 implied HN points • 23 Jul 25
🎭️ Culture Economics
  1. Nihilistic thinking is common, with many feeling lost and questioning the meaning of their lives. This crisis of meaning is a big issue today and can lead to new ideas and values when we confront it.
  2. There is a growing fear of people scarcity as many young individuals are leaving their homes in search of opportunities. This might change the way migration is viewed and handled in wealthier countries.
  3. The financial world is becoming unpredictable, and understanding value is tougher than ever. It's important to read social dynamics in the market, as they play a significant role in outcomes.

Russia’s Total Victory Over NATO Part 1

Autodidact Obsessions • 4 implied HN points • 19 Nov 25
🌍 World Politics Economics
  1. Russia has a strong industrial production capability, ranking high globally, especially in arms manufacturing. This strength is a key factor in their ongoing war efforts.
  2. Despite having a smaller economy than many nations, Russia's resources like oil and gas contribute significant value, which complicates its economic comparisons with larger countries.
  3. Russian manufacturing is thought to be underestimated when using dollar value metrics. Using purchasing power parity may show that Russia's industrial capacity is stronger than it appears at first glance.

A Personal AI-Transformation Survival Guide

The Future of Life • 19 implied HN points • 05 Jan 24
🕹 Technology Economics
  1. AI will change many aspects of our lives, including economics and cultural values. It's important to think about what resources and skills will be valuable in this new world.
  2. Cash might not be a safe bet as AI impacts the economy, making it important to consider other assets like stocks or cryptocurrencies like Bitcoin.
  3. Diversifying your skills is crucial. Relying on just one job or skill could leave you behind, so it's good to learn a mix of things that require human creativity and insight.

Welcome to Tim Culpan's Substack

Tim Culpan’s Position • 59 implied HN points • 13 Apr 23
💼 Business Economics
  1. Tim Culpan plans to share exclusive insights and updates through his Substack. You can expect valuable content even if there are only a few emails per month.
  2. He hints that the subscription will likely be free for a long time, so it's low-risk for readers. Signing up won't hurt, and it can easily fit in with other newsletters.
  3. All the posts and opinions shared here are personal and not connected to his work at Bloomberg. So, it's a space for his own thoughts.

December 2024 Inflation

Erdmann Housing Tracker • 42 implied HN points • 15 Jan 25
💰 Finance Economics
  1. December 2024 saw important updates about inflation. This is something people need to keep an eye on for their finances.
  2. There's a focus on housing data, which is crucial as it can greatly affect the economy and people's living situations.
  3. Subscribing to this housing tracker gives access to ongoing insights. This can help people stay informed about market changes.

Rising Emissions | Addicted to fossil-fuels

WeBeGreen • 39 implied HN points • 12 Jan 23
🌞 Climate & Environment Economics
  1. We're addicted to fossil fuels but can transition smoothly to renewable energy alternatives.
  2. Legislative changes like making polluters pay and enforcing reparations for environmental damage are vital.
  3. Economic solutions like prioritizing planet well-being over individual profit can lead us towards a sustainable future.

Stage 2: Nuclear Power's Economics Suck

Gordian Knot News • 219 implied HN points • 19 Mar 23
💼 Business Economics
  1. Nuclear power in the West is incredibly expensive and time-consuming to build, hindering its potential to combat global issues like climate change.
  2. Historically, nuclear power has been cost-competitive with coal, but rising costs due to regulations and construction delays have made it less viable.
  3. The core issue with nuclear power's economics lies in the perception of any radioactive release as intolerable, leading to excessive safety measures that drive up costs.

BRIEFLY NOTED: For 2024-03-07 Th

Brad DeLong's Grasping Reality • 107 implied HN points • 07 Mar 24
💼 Business Economics
  1. Elon Musk's actions are generating controversy and dividing opinions. His decisions are affecting his employees and leading to legal battles.
  2. Passive investing creates opportunities for active investors through analyzing fundamental news, noise trading, and security analysis.
  3. Peter Drucker viewed corporations as potential leaders for societal betterment by subordinating markets to social needs and environmental protection.

Another Follow-Up Against Agglomeration

Erdmann Housing Tracker • 105 implied HN points • 14 Mar 24
💰 Finance Economics
  1. The mortgage crackdown post-2008 led to a housing shortage, impacting construction of single-family homes in different cities.
  2. There is a correlation between the drop in construction activity after 2008 and metro area incomes, where lower income areas experienced a greater decline.
  3. Trends suggest housing constraints may lead to higher incomes, impacting new single-family home construction and mortgage lending standards across different cities.

OSD 309: You can’t ban things that have hit escape velocity

Open Source Defense • 38 implied HN points • 21 Jan 25
🇺🇸 U.S. Politics Economics
  1. Once something becomes very popular and widely used, it's really hard to ban it. People may talk about banning things like TikTok or certain guns, but actually doing it is much tougher.
  2. Banning things is often just talk. Many who support a ban won't follow through if it means facing real consequences or backlash.
  3. Public opinion shifts as something becomes more popular. Just like with TikTok and guns, the more people that use something, the harder it becomes to take it away from them.

When Technology Disrupts Society, What Happens? Part 1

The Digital Anthropologist • 59 implied HN points • 19 Jan 23
🕹 Technology Economics
  1. Revolutionary technologies throughout history have led to significant societal changes, impacting economic systems, politics, culture, and social structures.
  2. Current technology disruptions include challenges in political systems, creative fields, rule of law, economics, commerce, financial systems, and social structures.
  3. Despite the current turmoil caused by technological disruptions, history shows that after periods of turbulence, societies often enter a Golden Age of settling new norms and behaviors.

Part 1: Current State of the Housing Market; Overview for mid-June 2025

CalculatedRisk Newsletter • 19 implied HN points • 09 Jun 25
💼 Business Economics
  1. The spring housing market was not great for new homebuilders, but they still have many completed homes to sell.
  2. There is a significant increase in the number of existing homes available for buyers, making it a better time to find a home.
  3. While home sales are flat compared to last year, prices may drop due to increased inventory, although big drops are unlikely.

Silicon Valley’s Sociocultural System Emerges

The Digital Anthropologist • 19 implied HN points • 26 Dec 23
🎭️ Culture Economics
  1. Silicon Valley has spearheaded technological transformations globally, enhancing human connectivity and innovation despite imperfections.
  2. As groups grow larger and activities become more complex, sociocultural systems, like the emerging one in Silicon Valley, begin to take shape over time.
  3. The sociocultural elements in Silicon Valley include unique social hierarchies, a clergy class focused on transhumanist ideologies, and an evolving economic system based on data and wealth creation.