Econ70

May’s employment numbers were excellent. The unemployment rate fell to 3.8%, a level last seen in 4/00! The unemployment rate for African Americans declined to 5.9%, the lowest level since record keeping began in 1/72, and the unemployment rate for…

The Friday File: The highest income zip code in the USA is Fisher Island, FL 33109; technically Miami Beach. It’s an island accessible only by boat, helicopter, or water taxi with population of 132 and average income of $2.5 million/year.…

While gun purchase waiting periods appear to have no impact on school shootings, as they are planned over a relatively long time, there are other benefits. Waiting periods appear to meaningfully reduce suicides as they are impulsive. Moreover, there’s no…

While there are many reasons healthcare is so costly, a doctor shortage may be one of them! In Netherlands, 14.6 of every 100,000 persons become a doctor. In Britain, the ratio is 12.8, in Germany it’s 11.3, and in France…

With a debt-to-GDP ratio of 132% (third highest in the developed world), a dismal economy, weak banks, a non-functioning euro-skeptic government that wants to vastly increase the deficit, now add the possibility of Quitaly, Italy quitting the euro! The Italian…

The Friday File: 63 years ago Patricia O’Grady moved into a Greenwich Village apartment; the rent was $16/month. And she never moved out. By the time she passed on this past March, her rent had zoomed to $28.43/month, ruled by…

Last week the Supreme Court legalized sports betting. Based on other nations with mature betting markets, this is a $100 billion/year (maybe a $150 billion/year) industry now that no one will be forced into black market offshore wagering and bookies.…

Last year, 3.85 million babies were born, the lowest level since 1987! Moreover, the fertility rate for women age 15 to 44 was 60.2 births/1,000 women, the lowest since this rate was first recorded over a century ago. Only women…

Higher oil prices used to severely depress GDP. That’s no longer so. Household energy spending/GDP has been generally declining for decades and is now near its lowest percentage ever. Thus, the recent price rise will probably knock just a quarter-point…

In 1992, college graduates were 26% of the labor force, those with some college or a technical degree comprised 25%, high school dropouts were 13%, and high school graduates were a whopping 36%. Today, college graduates are 41% and rising,…