Month: October 2016

While 16Q3 annualized GDP growth was 2.9%, a two-year high, it was primarily because of a swing in inventories, which is unlikely to be repeated, and a one-off rise in soybean exports. Conversely, consumer spending grew by 2.1%, down from…

The Friday File: Five state currently allow for recreational marijuana; 20 more states permit medical use only. This election, voters in Arizona, California, Maine, Massachusetts and Nevada, states with a combined population of almost 60 million, will vote to allow…

While September’s new home sales rate came in below expectations at 593,000/year and August’s number was revised down to 575,000 from 609,000, sales are up 13% YTD. Moreover, the home ownership rate rose from 63.1% in 16Q1 to 63.4% in…

Despite soaring student debt levels, the median borrower between 20 and 30 pays $203/month with the average payment $351/month, primarily because some students borrow large amounts for graduate school. These surprisingly low payments result because many borrowers take 20 and…

While markets expect a Clinton victory on 11/8, they also feel a Democratic takeover of the Senate is a distinct possibility. What markets fear is the outside chance the Democrats also pick up the House! Either way, the Democrats are…

The Friday File: Include all forms of gambling, in 2015 the total spent in the US was $104.1 billion, of which $20 billion was generated from state lotteries. As for casinos, $38.3 billion was wagered in commercial casinos and $29.3…

Despite starts declining for a second straight month, yesterday’s housing numbers were pretty good. Year-to-date starts are up 3.7%, with single-family starts up a solid 8.6% and at their best level since 2/16. While multifamily starts fell a staggering 38%…

When low copay generic drugs face identical higher copay patent drugs, patients buy generics. If, however, the brand-name drug comes with a coupon reducing the copay below that of the generic drug copay, patent drug sales rise. Regrettably, the coupon…

Coal, natural gas and oil fueled the industrial revolution and continue to fuel economic growth, raising living standards and life expectancy. They also create societal costs in the form of air and water pollution, road congestion and more. Most of…