Econ70

Before quantitative easing, the Fed’s balance sheet was $900 billion, 6% of GDP. Today, it’s $4.47 trillion, 24% of GDP. Assuming the Fed wants the balance sheet to again be 6% of GDP, and assuming nominal GDP grows 3%/year, by…

February pending home sales surprised, rising 5.5% M-o-M, and are at their highest reading since 5/06, while house prices rose a strong 5.7% during the three months ending 1/17. Moreover, February new home sales were 592,000 seasonally adjusted, their second-best…

The Friday File: In an explosive trend, celebrities are pampering their pooches with profoundly posh pads. Paris Hilton purportedly purchased a penthouse for her pup for $375,000. In an effort to be top dog, Nicole Ritchie paid a profound $1.1…

With Dutch Prime Minister Rutte’s defeat of Eurosceptic Geert Wilders, anti-euro populist Marine Le Pen’s chances of winning France’s upcoming presidential election at 19% down from 34%, European businesses reporting the best economic conditions in six years, and inflation at…

With 17Q1 just about done, you would think macroeconomists would know what Q1 GDP growth will be, and you would be wrong! At one end, the Federal Reserve Bank of NY is estimating 3% annualized growth, while at the other…

In 1920, coal mining industry employment peaked at 785,000. By 1980, that level was 228,000, the highest level since 1955. Employment then resumed its steady decline, and by 2000 was 72,000. It then slowly rose to a peak of 90,000…

The inability of Republicans to repeal and replace Obamacare with the AHCA via the relatively easy reconciliation process, bodes poorly for tax reform. This is because the $337 billion in savings over the next decade from gutting Obamacare, was key…

The Friday File: While it’s been 404 days since the death of Antonin Scalia, the longest Supreme Court vacancy isn’t in jeopardy. That record is 841 days and ended when Robert Grier took Henry Baldwin’s seat on 8/10/1846. However, since…