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Markets don’t price mining districts in real time. They ignore them, then slowly re-rate them, then suddenly behave as if the opportunity was obvious from the start.

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Zero Sum: Cities Have Little To Show For Big Spending

...the cities that boosted their spending the most were, on average, no more or less likely to see measurable progress in reducing homelessness, lowering violent crime rates, tackling income inequality, improving rent affordability, and more...


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