Econ70

With viewership expected to reach as high as 106 million, the price for a 30-second pre- or post- Clinton-Trump presidential debate ad (the 90-minute debate is ad free) on a major network is $225,000. While a far cry from the…

The Friday File: Through 12/31/15, 80% of the adult US population had taken at least one airplane trip in their life, up from 49% in 1971. Last year, 45% of the adult US population flew compared to 21% in 1971.…

Yesterday, the Fed came as close as you can to raising interest rates, without actually raising them. Assuming the general election doesn’t send markets into a tailspin, rates rise by 0.25% on 12/14/16. Interestingly, Fed members reduced their expectations about…

While Apple broke no Irish laws, it was masterful at tax avoidance. To wit, Apple paid a microscopic 0.005% of its profit in taxes, 1/2500th of the 12.5% official Irish rate, between 1991 and 2007. It may now retroactively owe…

Despite the trivial economic impact of a rise of one-quarter of one percentage point in the federal funds rate, pundits obsess about whether the Fed will raise the rate as if the fate of mankind hangs in the balance. It’s…

With labor productivity growth dismal, here is a to-do list: increase infrastructure spending, improve K-12 education, boost funding for basic research, make our corporate tax structure internationally competitive, encourage the educated and talented to immigrate, reduce regulation and increase corporate…

The Friday File: While US beer sales totaled $106 billion in 2015, the amount of beer sold fell 0.2% to 197 million barrels. However, craft brewing volume grew by 12.8% and now has a 12.2% market share. Due to its…

Today’s economic data capture perfectly the condition of the US economy. Employment growth is strong, as first time unemployment claims remain under 300,000/week for the 79th straight week. In addition, inflation remains benign as measured by the unchanged reading of…

Income Increase In 2015, median household income (MHI) surged 5.2%, the largest jump ever, to $56,516, up from $53,718 last year. MHI remains below the pre-recession 2007 peak of $57,423 and the 1999 all-time high of $57,909. Women saw their…