Econ70
Consumer confidence is by some measures at its highest level since 10/2000. Unemployment is microscopic, pay is up, and GDP growth is strong. Yet housing slumps. Pending sales are down Y-o-Y for seven straight months, existing sales have fallen four…
In 2010, gross sales margin as a percentage of new-car price was 4.4%; today it’s 2.5%. Relatedly, the largest US bank just reduced to zero the cost of stock and ETF trades for some of its customers, and a brokerage…
Today, National Bow Tie Day, know that bow ties are most popular in MS, SC and AL. Just 22% of them sold are self-tied and only 1% of men can tie one! 41% of bow ties are black, followed by…
While many emerging nations suffer from some of the conditions that ail Turkey, no other nation has them all. These problems include a huge budget deficit, the second highest current-account deficit among emerging market nations, huge externally denominated sovereign and…
The Friday File: This year’s Boston Red Sox are, to date, one of the best baseball teams ever assembled. Their current .698 winning percentage puts them on pace for 113 wins; fourth most in a season. The only teams with…
July new housing sales were slightly disappointing at 627,000, but they’re up 7.2% YTD and should end 2018 up at least 6% compared to 2017. For the macro economy, it doesn’t much matter. Back in 2003, well before the Housing…
While income disparities are large in the US, they are large in the EU too. Based on purchasing power, the region of Inner London – West has the highest per capita GDP in the EU at 611% of the average,…
Total household debt first peaked in 08Q3 at $12.68 trillion, 85.5% of GDP. $9.99 trillion was housing debt, $2.69 trillion non-housing debt. Household debt then declined steadily, bottoming in 13Q2 at $11.15 trillion, or 67% of GDP; $8.38 was housing…
Housing starts were disappointing in July, for the second straight month. That said, starts are up 6.2% YTD which is OK. Single-family starts were up 2.7% Y-o-Y and 0.9% M-o-M, while multifamily starts were down 9.6% Y-o-Y and 3.1% M-o-M.…
The Friday File: Yesterday legendary singer and songwriter Aretha Franklin died at 76. During her spectacular career, she won 18 Grammys, sold 75 million albums, had 17 Billboard pop chart top 10 songs, and quit flying in 1983 preferring a…