Month: February 2022

The Friday File: Valentine’s Day spending is expected to total $23.9 billion, almost equal to the GDP of Iceland (the 112th largest economy out of 216), and up from $21.8 billion last year. This remains shy of the $27.4 billion…

The current 117th Congress, running from 1/3/21 to 1/3/23 has passed 85 bills with 11 months to go, and is on a pace to pass just 157 bills. The fewest number of bills passed in any two-year session of Congress,…

The only other time the Fed shrank its balance sheet was in 2018, and rates declined, the opposite of what should have happened. Here is maybe why. As the Fed shrinks its balance sheet it sells bonds and acquires cash…

In 1980, global GDP was $11.2 trillion. The EU accounted for 29%, the US 25%, Japan 10%, China 3%, and the rest of the world 33%. By 2021, global GDP had grown to $85 trillion. The US was tops, again…

January employment grew by a strong 467,000. Moreover, December’s employment was revised up from 199,000 to 510,000 and November’s from 249,000 to 647,000, suggesting Omicron had little impact. Better yet, the labor force participation rate rose from 61.9% to 62.2%…

The Friday File: Among adult Americans, 40% set a morning alarm but do not hit snooze. It is, however, highly correlated with age. Among those 18-24 just 25% don’t hit snooze. Amongst persons 25-34, the percentage of non-snoozers is 32%.…

While the US national debt just surpassed $30 trillion, the public debt, on which we pay interest, is $24 trillion. The other $6 trillion is Social Security and other such intragovernmental debt owed ourselves that Congress can alter. Moreover, it’s…

Of all food/beverage sales in retail stores, 21% and rising due to inflation and the loss of stimulus money, are store brands, which are less expensive. 63% of frozen seafood sales are store brands, followed by frozen vegetables at 50%.…

The US economy picked up steam in 21Q4, growing at a strong 6.9% annualized rate, up from a 2.3% annualized rate in 21Q3, GDP’s best quarterly showing since 2000Q2. While consumer spending grew 3.3% in the quarter, inventory growth was…