Archive for December 2016

The Friday File: I wish to take this opportunity to thank you all for your interest in my daily economics blog. All of you enrich my life in many ways and I am deeply appreciative. I wish you and yours the very best in 2017. May it be a year of full employment, outstanding decisions…

Based on blood alcohol content level, the state with the highest BAC is Iowa at .122%, followed by Arkansas at .113%, Alabama at .112%, Maine at .107% and Tennessee at .106%. The states with the lowest BAC are New Hampshire at .012%, Delaware at .026%, Utah at .031%, Arkansas at .037% and Wyoming at .051%.…

Since the conclusion of the presidential election, consumer confidence as measured by the Conference Board has shot up an amazing 12.8% to 113.70, its highest reading since 8/01! Similarly, the University of Michigan consumer sentiment index is up 12.3% at 98, its second-best level in over a decade. Lastly, small business sentiment as measured by…

As Chanukka is a transliteration from Hebrew, there’s no correct way to spell it. That is you can begin the word with a “H” or a “Ch”, the second consonant can be an “n” or “nn”, the third consonant can be a “k” or a “kk”, and the word either ends with “ah” or “a”.…

The Friday File: Inflation as measured by the Christmas Price Index, based on purchasing all items in “The Twelve Days of Christmas,” rose 0.7% in 2016 and now stands at $34,363. The most expensive item: seven swans-a-swimming at $13,125. Two turtle doves rose 29.3% and now cost $375. In a good sign for housing, pear…

While bad gift giving, defined as spending more on the gift than the recipient values it, is wealth destroying and argues for giving cash, gifts also create value. We all have gifts we can’t part with because of sentimental value. To improve your odds of good gift giving, ask someone the same age as the…

At present, 5.6% of the nation’s electricity comes from wind, up from 4.7% in 2015 and 2.3% in 2010. In 2015, Iowa had the largest wind generation share at 31.3%, followed by South Dakota at 25.6%. Texas and New Mexico are on pace to become the 12th and 13th states to generate 10% or more…

Given the high level of political unpredictability of the incoming Trump administration and the massive amount of backlogged legislation that may be moved, lobbying expenditures in 2017 may well set records. Lobbying expenditures peaked at $3.5 billion in 2009 and 2010, the last time one party controlled both ends of Pennsylvania Avenue. Last year they…

While housing starts fell 18.7% in November, it was due almost entirely to multifamily. Multifamily starts declined an eye-watering 45.1% after jumping 76% in October as developers probably rushed to lock in financing before the election and buyers signed purchase contracts and locked in mortgage rates ahead of the Fed’s rate hike last week. YTD,…

Pricey Presents The Friday File: This Chrismahanukwanzakah let me suggest several wonderful last minute gifts for the special someone on your list who has everything. A $149,000 Swedish Hastens Vividus bed; must be some bed! Or, how about a week of royal living in three English estates for just $700,000. Lastly, consider a trip to…