Econ70
The Friday File: In the unlikely event of a zombie invasion, avoid northeastern Pennsylvania at all costs as it’s close to big cities where the outbreak is likely to start. Bakersfield is also bad, it’s close to LA, SF and…
While Q1 corporate profit growth will likely be flat due to bad weather, a strong dollar and weak exports, global growth and oil prices, corporate profits have been lackluster for some time. Following a Great Recession annualized low of $674.1…
While it’s obvious to all that the public debt, world population, and numbers of known galaxies, solar panels, divorces, live births, live economists all continually increase, there appears no concomitant decrease in anything. This goes against the plethora of conservation…
With the unemployment rate at 5.5% and the CPI at -0.1%, the Misery Index, the sum of the two numbers, is just 5.4%, its lowest level since April 1959, and slightly less than a quarter of its all-time high of…
Six and a half years into Quantitative Easing, GDP and inflation are higher than they would otherwise have been and feared asset bubbles have not generally materialized. However, stock and bond prices have risen, boosting wealth inequality, but the improved…
The Friday File: While school closures for bad weather may hurt student achievement, absenteeism profoundly hurts achievement. Each one-day increase in absenteeism lowers math scores by 5% of a standard deviation! Schools deal with school-wide closures by adding days or…
On the plus side, job growth continues to look very strong and inflation rates appear to be no longer falling. But business investment has been declining for six months and retail sales have been slumping for three. This suggests a…
After peaking at 3.03 trillion vehicle miles travelled (VMT) during the 12 months ending 11/2007, VMT hit a cyclical low of 2.94 trillion miles during the 12 months ending 11/2011. Finally, VMT hit a record 3.05 trillion during the 12…
The number of Americans who moved in 2013 was 35.7 million, 11.5% of the population. Since record keeping began in 1948, the percentage of movers has steadily declined from about 20% to just 11.5% today. However, because of population growth…
US crude oil inventories are at 29 days, their highest level since 1985, and are at 60% of storage capacity vs. 48% a year ago. In Cushing, OK (the delivery point for WTI futures contracts) inventories are at 77% of…