Econ70

Doubling the pay threshold under which salaried workers must be eligible for overtime to $47,476 a year will make an additional 4.2 million employees, less than 3% of all workers, eligible for overtime pay. By comparison, increasing the minimum wage…

During 2/16, cash home sales were 35.7% of all transactions, their lowest February reading since 2008 and a 2.5 percentage points decline Y-o-Y. Cash sales were 59.2% of REO sales, 35.6% of resales, 32.6% of short sales and 15.2% of…

The Friday File: This past Wednesday, 100 pizza chefs built a 1.15 mile long pizza in Naples, Italy, breaking the previous mile- long record set in Milan last year. The recipe called for 4,409 lbs of mozzarella and flour, 3,527…

While inflation here appears to be rising, albeit slowly, in the Eurozone prices are falling. Despite rising global energy prices, April Eurozone inflation was -0.2% Y-o-Y with the YTD inflation also negative. Worse, the culprit was a decline in the…

Should Britain vote to exit the EU on 6/23/16, I suspect that the pound will fall in value, UK inflation will rise and the economy will likely enter a mild recession. Depending on the magnitude of these changes, the Bank…

While April housing starts rose 6.6% M-o-M and declined 1.7% Y-o-Y, housing starts have been flat for a year. Since 4/15, the peak in monthly seasonally adjusted starts was a rate of 1.213 million in 6/15; the trough was 1.063…

The latest teeth gnashing about poor retail sales is misplaced. Retail sales weakness is due to less spending by foreigners due to the strong dollar, more online spending and more service spending. Over the last decade, spending on clothes/shoes grew…

The Friday File: The top coffee producing nation is Brazil, which harvested 6 billion lbs. in 2014. Vietnam follows with 3.6 billion, then Colombia at 1.5 billion, Indonesia at 900 million, and Ethiopia, where coffee was discovered, at 860 million.…

While it has taken 8.25 years, inflation-adjusted GDP in the 19 country Eurozone (not to be confused with the 28 nation European Union) is back where it was on 1/1/08! Among the largest nations, Germany is tops, with its GDP…