Investopedia: Inflation or the Economy: What Will Fed Rate Hikes Break First?

Prof Wolff is interviewed for an Investopedia article titled: Inflation or the Economy: What Will Fed Rate Hikes Break First? by Diccon Hyatt.

“They're in debt up to the wazoo to build the office towers premised on the marketing which told them every office in that place would be leased at a nice flat rate,” Wolff said. “All that's gone. The offices are empty.”

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P DiGesu commented 2023-04-05 08:34:06 -0400
The new offices, stores and apartments are largely uninhabited, yes due mostly higher cost, but the building contractors and developers got paid before they left. Perhaps we are over developing and expanding construction on previously undeveloped natural land which should have been protected from those who capitalize.
Richard Wolff published this page in Updates 2023-04-02 22:38:37 -0400

Investopedia: Inflation or the Economy: What Will Fed Rate Hikes Break First?

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