Econ70

The Friday File: Since 2006, ten artists have turned over $1 billion at auction. Top of the list: Pablo Picasso at $3.43 billion, followed by Andy Warhol at $3.38 billion, Zhang Daqian at $2.03 billion, Qi Baishi at $1.91 billion…

Last week, the Bank of England halved its interest rate to 0.25%, the lowest rate in its 322 year history! It also announced a new round of short-term government bond-buying totaling $80 billion and two other programs to stimulate the…

From mid-2014 through 12/15, the US dollar appreciated 25%. This rise was a major reason why the Fed only raised rates once in 2015. Since the start of 2016, however, the US dollar has fallen by 4% despite central bank…

In 2014, the inheritance tax affected 5,200 estates, roughly 0.2% of those who died. And, the inheritance tax generated $19.3 billion or 0.6% of all federal revenue, down from 1% in 1990 due to increases in the size of the…

With 255,000 net new jobs created in July and upward revisions to prior months, Friday’s job report was stellar. While the unemployment rate held steady, it’s because a huge number of persons entered the labor force. Moreover, the work week…

The Friday File: During the upcoming 31st Olympiad, the US team should win more gold medals (40) and more silver medals (60) than any other. China will come in a close second, with 35 gold and 45 silver. Like in…

Inflation, as measured by the personal consumption expenditure index, the Fed’s preferred measure, was just 0.9% for the year ending 6/16, and core inflation (which removes food and energy) was 1.6%, both below the Fed’s 2% target. However, goods inflation…

When investors were recently asked what the likelihood was of a crash similar to Black Tuesday (October 29, 1929) or Black Monday (October 19, 1987) occurring during the next six months, the median response was 10%. The actual probability, 1.7%.…

Last week, we learned that the seasonally-adjusted homeownership rate declined to 63.1%, the lowest level since 1965, yes 1965, and a steep fall from the peak of 69.4% in 04Q2. Since the start of the recession in 01/08, there’s been…

The US economy sputtered in Q2, growing at a rate of just 1.2%/year! Consumer spending rose a strong 4.2%, exports jumped 1.4%, and real final private sales increased 4.8%. But, government spending was down 0.9%, residential fixed investment declined 6.1%,…