Econ70

While many industries and business need a rescue package, so do airlines and their employees. In the case of airlines, there must be a quid pro quo. While some want to prevent share buybacks, why not ban baggage and change…

This morning, the Fed essentially said it would do “whatever it takes” to keep credit markets functioning after doing the same for funding markets last week. The Fed is committed to unlimited quantitative easing (which will help housing), the purchase…

The Friday File: The average American flushes 57 sheets of toilet paper/day, almost 21,000 sheets/year; slightly over 100 rolls/annum. That works out to 384 trees over a lifetime! US spending on toilet paper rolls up to $9 billion/year; $27.70/person. For…

For the week ending 3/16/20, hotel occupancy rates fell 24.4% Y-o-Y. In PA, NJ and DE, February manufacturing activity plummeted to its lowest level since 7/12; in NY, manufacturing declined more. For the week ending 3/14, job losses jumped 70,000…

While our debt is painfully high at slightly over 100% of GDP, now isn’t the time to start worrying about it! Give the healthcare sector whatever it needs, giving everyone $1,000 is a decent idea given the immense time crunch…

With the economic toll of Covid-19 rising sharply, the government must offer a large stimulus package to prevent a precipitous decline in aggregate demand. We must stop firms from layoffs which will deepen the falloff. A new program of 2%…

This past weekend, not only did the Fed cut rates by one full percentage point, but it also began flooding financial markets in general, and Treasury and mortgage-backed securities markets in particular, with cash so they function smoothly. They’re also…

The Friday File: The world’s first St. Patrick’s Day parade (sadly postponed this year) occurred on 3/17/1762 in NYC and featured Irish soldiers fighting for Britain! 32.6 million persons or 10.1% of the US population, claim Irish ancestry, down from…

Based on the best data available, Coronavirus death rates are about 0.75% in both China (outside of Hubei Province where China was woefully ill prepared) and South Korea, where testing rates are high. With the number of deaths in the…

February’s net job growth was a shockingly strong 273,000, with upward revisions totaling 85,000 for December and January. Add an increase in the workweek and in pay of 0.3% each, and all looks well. But the survey only includes the…