Econ70

In March, the number of job openings hit 11.55 million, the highest level ever, while the number of unemployed persons was 5.95 million, meaning there are 1.94 jobs/job seeker, staggering! With so many openings, the number of quits (all of…

Between 1970 and today, US automobile fuel efficiency roughly doubled for both cars and light trucks. During the same time the US population increased by 54% and the number of vehicles on the road grew by 141%. Moreover, there has…

Looking out six to 12 months, the biggest concern I have is commodity inflation including energy, food, and metals. Next on the list is the tight domestic labor market and the continual wage inflation it generates. Third, the steady rolling…

The Friday File: Based on the number of album units sold (AUS), with an album equaling 1,250 streams on a paid subscription platform or 3,750 streams on an ad-supported platform, the Beatles are tops with 183 million AUS. Garth Brooks…

While 22Q1 GDP shrank at an annualized rate of 1.4%, it fell because inventories shrank and imports skyrocketed, meaning torrid domestic consumption was met via inventory drawdowns and imports. Federal, state, and local government spending also shrank. That said, private…

The Russian invasion of Ukraine will shrink Ukrainian 2022 GDP by 35% from $200 billion to $130 billion. Russia’s will fall by 8.5% from $1.8 trillion to $1.65 trillion. Combined, that’s $220 billion. 2022 global GDP of $95 trillion is…

Housing activity is beginning to show the impact of rising rates. March sales activity, which is based on contracts signed in January and February when 30-year mortgage rates were rising from 3.29% to 3.9% fell for the second straight month…

Historically, NATO and Russia shared a border of 196km, where Norway and Russia meet. When Poland ascended in 1999, the border grew to 428km. In 2004, when Estonia, Latvia and Lithuania joined after asking to be admitted like all nations,…

The Friday File: Today, Guy LaFleur died. He was the first hockey player to score 50 goals and 100 points in six straight seasons, won five Stanley Cups with my Montreal Canadiens, is in the Hall of Fame, and was…

In March 2021, the median house price was $326,350 and the interest rate on a 30-yr mortgage was 3.10%. Assuming 20% down, the monthly payment, excluding taxes and property insurance, was $1,115/month. Today, the same house costs $375,300, or 15%…