Econ70
Through the first four months of FY24 (October-January) the budget deficit reached $532 billion, up 16% or $73 billion compared to a deficit of $459 billion during the same period in FY2023. While seemingly expansionary, the increase was more than…
In 23Q4, consumer debt rose $212 billion. Mortgage balances increased $112 billion, HELOCs rose $11 billion, credit card balances added $50 billion, auto loans were up $12 billion, and other balances such as retail cards and consumer loans increased $25…
The Friday File: Since the start of CY2019, the KC Chiefs have played 20 games when the moon is a waxing crescent, a growing toenail sliver. And of those 20 games they have won 19. By contrast the 49ers are…
While there are many newer FICO versions, for home mortgages, FICO Score 5 is based on Equifax data, FICO Score 4 is based on TransUnion data, and FICO Score 2 is based on Experian data. Your mortgage FICO score is…
In 1980, the number of households with pay-TV subscriptions including cable, satellite, and telecom firms totaled 20 million. By 1989 it was 50 million, in 2000 it surpassed 75 million, and the peak was 100 million between 2009-2014. Since then,…
Despite job growth of 353,000, the January employment report contained troubling data. Ignoring weather-related phenomena including the length of the workweek, which shrank, hourly earnings, that jumped, and personal income, which was flat, the data is showing a troubling rise…
Employers created a stunningly strong 353,000 new jobs in January, and December employment was revised up from 216,000 to a hefty 333,000. While freakishly cold weather and seasonal adjustment factors undoubtedly had an impact, the economy isn’t rolling over. Moreover,…
The Friday File: When given a choice, 34% of the public prefer a self-checkout kiosk, 56% prefer a live cashier, and 10% don’t care. Among those 18-44, 48% prefer self-checkout, 37% prefer a cashier, 15% don’t care. For 45–54-year-olds, 30%…
While existing home sales are very weak, home prices keep rising. The Case-Shiller National Index was up 5.1% Y-o-Y in November, up from 4.7% Y-o-Y in October. Similarly, the FHFA Index saw home prices rise 6.6% Y-o-Y in November, up…
While the Fed didn’t lower interest rates after today’s meeting, it suggested that cuts are on the way. However, by reiterating that he wants to see continued declines in inflationary pressures before the Fed cuts rates, Powell gave markets no…