Econ70
While the CBO projects the Export-Import Bank will make a profit of $14 billion through 2024 if it continues borrowing at the subsidized US Treasury rate, at market interest rates the Bank will post a $2 billion loss. While hardly…
The Friday File: While Atlantic hurricane names have alternated between the sexes since 1979, it turns out hurricanes with women’s names are much more deadly. While names don’t matter for low-damage hurricanes, for high-damage storms the more feminine the name…
While Citi will soon pay $7 billion to settle with the DOJ over mortgage abuses, and BNP Paribas just paid $9 billion for violations of US sanctions, and recently JP Morgan paid $13 billion over various residential-backed mortgage securities, the…
In a display of bi-partisan common sense rarely seen on Capitol Hill, short-term financing to help the virtually depleted Highway Trust Fund (HTF) through next year seems likely. The HTF is financed by a gas tax of 18.4 cents/gallon that…
With bank lending very weak outside of commercial and industrial loans, global growth lackluster, Europe on the verge of deflation, a slightly appreciating US dollar and the number of unemployed workers still elevated, conditions don’t suggest a rapid rise in…
Q2 GDP will come in below 3%. While inventories were a killer in Q1 they will help in Q2, as will a return to normal weather. There will also be extra spending due to rebounding demand following the Q1 cold…
While started in 1972, 1979 marked the start of the “modern era” of the Nathan’s Hot Dog Eating Contest. The winner that year, Thomas Stash, stashed 19 in 10 minutes. By 2000 the record was 25.125. In 2001 the great…
With its 45th recall this year totaling 8.5 million cars, GM has now recalled 28.5 million cars worldwide and has raised its total recall-related charges to almost $3 billion; just $105/car! At that low price/car, GM appears to be recalling…
Seattle’s decision to boost its minimum wage to $15/hour, the highest anywhere, is bad policy. Unlike a rise in the federal minimum wage which affects all employers, this increase only applies inside the city. Thus, employers in low-wage industries in…