The latest Interest Bearing Notes is out. This newsletter (published by the finance team of the World Bank’s research group, hence the witty pun) is always a good read. This edition covers everything from ‘the calm before a financial storm’, to family controlled companies, shorting Chinese stocks, and ‘all that math jazz.’
Ann Paterson studies the market for second-hand cars in Afghanistan:
During the conflict period, vehicles became popular as a form of small-scale investment after other assets such as real estate and agricultural land became insecure. Vehicles are still used as a store of value in the absence of an effective banking system. There is some anecdotal evidence that the car and motorbike trade may be used as a means of laundering money.
Owen County, Indiana, is trying to sell a one-square inch plot of land for $15,000. Needless to say – they haven’t been successful. Constricting tax codes, not a rich vein of diamonds, can be thanked for the ridiculous price: