Month: September 2026
The Friday File: Captain’s log, Stardate 5928.5. Sixty years ago this week, NBC aired “The Man Trap,” the debut of Star Trek; the world premiere was two days earlier in Canada. In its short three years, 79 TOS episodes were…
While the US economy is 13x larger than Canada’s, because the two economies have become increasingly integrated — starting with the Auto Pact in 1965, CUSFTA in 1988, and NAFTA — these decades of increasing free trade have resulted in…
Prediction markets are 50-50 for rate hike next week; I’m less certain. Warsh needs seven of 12 votes including his to get a hike. Hammack/Kashkari/Logan want a hike. Powell/Williams are decidedly neutral. That leaves Warsh needing four votes out of…
August net jobs grew a screaming 162,000, and June and July were upwardly revised 55,000. Moreover, the workweek expanded from 34.3 hours to 34.4, and the labor force participation rate rose from 61.4% to 61.6%. The unemployment rate remained unchanged,…
The Friday File: This week, 91-year-old Dale Sanders reclaimed the title of oldest hiker to complete the Appalachian Trail. Grey Beard (his nom de trail) previously earned the distinction at age 82 in 2017. M.J. Eberhart (aka Nimblewill Nomad) surpassed…
Russian exports of diesel remain restricted due to Ukrainian attacks. China has yet to resume petroleum-product exports to Asia at normal levels due to concerns about possible shortages at home. Accordingly, major diesel buyers including Brazil/Europe/India/Turkey are increasingly relying on…
July US construction spending declined 3.8% Y-o-Y and is at $2.2 trillion seasonally adjusted. Public construction was up 1.7% Y-o-Y, largely due to highway/street construction, which rose 4.5% Y-o-Y. Private residential construction fell 7.3% Y-o-Y and is lousy. Private non-residential…
De-dollarization talk has picked up of late due to continued concerns over rising US public debt and whether its growth is sustainable. Recently, two new concerns have emerged. The first: rising investor concerns about the strength of US political institutions…