Month: October 2017

Wasted Witches

10/31/2017

Between 1300 and 1850, 80,000 people were tried for witchcraft in Europe. Half the trials and executions took place between 1560 and 1630, during the Protestant Reformation. On a per capita basis, Switzerland held the most trials, 980/100,000 people, and…

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Good GDP

10/30/2017

The US economy easily shook off the effects of recent hurricanes and GDP in 17Q3 rose by 3% following a 3.1% rise in 17Q2, the best two-quarter performance since mid-2014. That said, Y-o-Y GDP growth is still just 2.3% and…

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Sweet Sap

10/27/2017

The Friday file: It takes 40 gallons of sap to make 1 gallon of maple syrup, and each tree produces 15 gallons of sap/year. 72% of global maple syrup comes from Quebec, down from 82% in 2003. Trees can only…

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Awesome Abodes

10/26/2017

New home sales in September came in at a seasonally adjusted annual rate of 667,000, the highest level since 10/07! Sales were up 18.9% from August, the largest monthly percentage gain in almost 28 years. While some of the 26%…

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Entitlement Examination

10/25/2017

The latest report on the nation’s major entitlement programs, accounting for 42% of all federal government spending, are sobering. The Social Security trust fund will be emptied in 2034 and Medicare (Part A, hospital care) in 2029. 50 million Americans…

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Total Taxes

10/24/2017

In 2015, the top 1% of individual filers, those with AGIs (adjusted gross incomes) of at least $480,930, earned 20.65% of total AGI and paid 39.04% of all federal income taxes. The top 5% had AGIs of $195,778 and paid…

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Deteriorating Deficit

10/23/2017

In FY2017, the federal deficit widened to $666 billion or 3.5% of GDP, up from $586 billion or 3.2% of GDP in FY2016. The deficit has averaged 3.1% over the last 40 years. While receipts rose to $3.315 trillion, up…

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Athletic Affluence

10/20/2017

The Friday File: For the year ending 6/17, the world’s highest paid athlete was soccer star Cristiano Ronaldo, who earned $93 million, followed by LeBron James, who brought home $86 million. Another soccer player, Lionel Messi was third with $80…

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Beijing Borrowings

10/19/2017

At present, China’s non-financial debt is 210% of its GDP. When Japan’s economy collapsed in 1992, its ratio was 210%, and when Spain collapsed less than a decade ago, their non-financial debt-to-GDP ratio was 215%. While shrinking the ratio is…

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Fed Front

10/18/2017

The decision over who will lead the Fed is down to four candidates. Janet Yellen is probably in second place behind current Fed governor Jerome Powell. He would continue Yellen’s policy of gradually raising rates but would have a lighter…

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