Month: November 2019

The Friday File: In addition to US politics becoming increasingly tribal, so is our shopping! While the CNN (Democrats), Fox (Republicans) viewership divide is well known, the NBA is now 50% more popular among Democrats than Republicans. By contrast, NASCAR…

The first Thanksgiving was celebrated in 1621, and President Lincoln proclaimed Thanksgiving a national holiday on 10/3/1863. 96% of Americans celebrate Thanksgiving, and along the way we spend $550 million buying turkeys. The first Thanksgiving college football game took place…

In 1940, the percentage of children who earned more than their parents by age 30 was 92%. The percentage fell to 80% by 1950, and from 1960-1975 it held at 60%. It’s since continued to fall and is now 50%.…

While taxing billionaires is now very chic, the notion that they are the result of bad/failed government policy is wrong. It heavily depends on the competitiveness of the market. Google and Facebook are monopolists and earn excessive profits as competition…

The Friday File: The average dollar bill lasts 5.8 years. The average $5 bill, 5.5 years, while the $10 bill lasts just 4.5 years, less than any other note. $20s average 7.9 years, $50 bills last a slightly longer 8.5…

If the US-China trade war does not worsen and President Trump doesn’t increase tariffs on Chinese imports on 12/15/19, the trade war’s negative impact on GDP here and China should end by 12/31/20. The cumulative reduction in Chinese GDP is…

With manufacturing, capital spending by firms, transportation, agriculture, and energy all weak, the relatively good October housing starts were particularly pleasing. Starts were up 8.5% Y-o-Y, are at their second-best level since 5/18, and single-family starts have been rising since…

While the US economy looks to be holding up reasonably well, having grown at an annualized rate of 1.9% in 19Q3, it can expect no help from abroad. The #2 global economy, China, slowed further in October with industrial output…

In 1976, the estate tax applied to 7% of all descendants at a top rate of 70%. Today, just 0.07% of descendants owe money; a 99% decline! To reduce inequality, don’t impose confiscatory wealth taxes of 2% or more, tax…

The Friday File: Some days bulls are happy, some days bears are, last Tuesday the Dow disappointed both, it went nowhere. Monday it closed at 27691.4854488934 and Tuesday, it closed at 27691.4854488934; 0.000000000% change! Over the past 123 years, this…