Jun
04

Topnotch Toil

May’s employment numbers were excellent. The unemployment rate fell to 3.8%, a level last seen in 4/00! The unemployment rate for African Americans declined to 5.9%, the lowest level since record keeping began in 1/72, and the unemployment rate for women was 3.6%, its lowest since 1953! Lastly, the … [Read more...]

Jun
01

Incredible Income

The Friday File: The highest income zip code in the USA is Fisher Island, FL 33109; technically Miami Beach. It’s an island accessible only by boat, helicopter, or water taxi with population of 132 and average income of $2.5 million/year. Second is Atherton, CA 94027; 7,000 residents and average … [Read more...]

May
31

Weapon Wait

While gun purchase waiting periods appear to have no impact on school shootings, as they are planned over a relatively long time, there are other benefits. Waiting periods appear to meaningfully reduce suicides as they are impulsive. Moreover, there’s no evidence that if unable to buy a firearm an … [Read more...]

May
30

Doctor Deficit

While there are many reasons healthcare is so costly, a doctor shortage may be one of them! In Netherlands, 14.6 of every 100,000 persons become a doctor. In Britain, the ratio is 12.8, in Germany it’s 11.3, and in France it’s 9. Here it’s 7.5! And, the percentage of Americans going to college is … [Read more...]

May
29

Interesting Italy

With a debt-to-GDP ratio of 132% (third highest in the developed world), a dismal economy, weak banks, a non-functioning euro-skeptic government that wants to vastly increase the deficit, now add the possibility of Quitaly, Italy quitting the euro! The Italian bond market nosedived as investors ran … [Read more...]

May
25

Ridiculous Rent

The Friday File: 63 years ago Patricia O’Grady moved into a Greenwich Village apartment; the rent was $16/month. And she never moved out. By the time she passed on this past March, her rent had zoomed to $28.43/month, ruled by rent control. At her insistence, her unit was never upgraded and had no … [Read more...]

May
24

Go Gambling

Last week the Supreme Court legalized sports betting. Based on other nations with mature betting markets, this is a $100 billion/year (maybe a $150 billion/year) industry now that no one will be forced into black market offshore wagering and bookies. This should generate a meaningful rise in state … [Read more...]

May
23

Delivery Dearth

 Last year, 3.85 million babies were born, the lowest level since 1987! Moreover, the fertility rate for women age 15 to 44 was 60.2 births/1,000 women, the lowest since this rate was first recorded over a century ago. Only women aged 40 to 44 saw a rise in fertility in 2017; to 11.6 births/1,000 … [Read more...]

May
22

Energetic Economy

 Higher oil prices used to severely depress GDP. That’s no longer so. Household energy spending/GDP has been generally declining for decades and is now near its lowest percentage ever. Thus, the recent price rise will probably knock just a quarter-point off GDP. Moreover, because we’re now the … [Read more...]

May
21

Extra Education

 In 1992, college graduates were 26% of the labor force, those with some college or a technical degree comprised 25%, high school dropouts were 13%, and high school graduates were a whopping 36%. Today, college graduates are 41% and rising, and are the only group that has significantly grown! Those … [Read more...]