Archive for April 2017

The Friday File: Total per capita gambling losses, defined as losses minus winnings, experienced by Americans are about $375/person, good enough for 5th highest in the world. In fourth place is Finland, where gambling losses are about $400/person. In third place are the Irish at $450/person, and in second are Singaporeans, who lose slightly over…

In 16Q3 and in 16Q4, the combined addition to real US GDP by all levels of government (federal, state and local) was 0.07 and 0.06 of a percentage point respectively. That was weak. Government spending should consistently contribute roughly 0.40 of a percentage point to GDP growth. More than that, and government spending is fiscally…

President Trump has boldly proposed cutting the top corporate tax rate from 35% to 15%, lower than any Republican plan circulating on Capitol Hill. Assuming no offsetting tax increases, this will raise the debt by easily $2.2 trillion over a decade, maybe just $1.75 trillion after accounting for the boost to GDP and the resulting…

The British pound jumped 2.3% following the announcement of a snap June election. Presently, the Hard Brexiteers (HBs), those calling for a total break with the EU without any trade pact, have enough seats in Parliament to limit PM May’s maneuvering room. The anticipated larger parliamentary majority with a smaller percentage of HB backbenchers, will…

Since capital punishment was reintroduced in the USA in 1977, about 1,400 people have been killed. The number of annual executions steadily rose through 2000, peaking at almost 100. Since then, the number of executions has declined annually except for 2002, 2005 and 2008. In 2016, there were 20 executions. For perspective, China executes thousands/year,…

The Friday File: In 2016, Americans, for the first time, consumed more bottled water than soda. Consumption of bottled water totaled 39.3 gallons/person, while soda consumption was 38.5 gallons/person. By revenue generated, soda is still tops at $39.5 billion compared to $21.3 billion for bottled water. Per capita soda consumption peaked at 54 gallons in…

While the VIX, the Wall Street fear index, is still very low at 16, it’s up from 10.96 on 3/3/17. While French elections, tensions with Russia and North Korea are all possible culprits, the driver is 4/28/17. Absent a budget agreement by midnight 4/28/17, the government will experience its 14th closure since 1980. Congress returns…