Econ70

After recording negative Q1 GDP growth for the third time in five years, the Commerce Department is convinced its seasonal adjustment factors are working poorly. Therefore, they will revise recent quarterly GDP growth numbers, but annual GDP growth will remain…

After topping out at almost 1,600 oil rigs back in October 2014, oil exploration plummeted along with rig counts, which now number just 646. That said, current week-to-week rig count declines are trivial, going from a peak weekly decline of…

While Q1 GDP was revised down from +0.2% to -0.7% due to falling exports, rising imports, slower inventory growth, weak corporate spending on plant and intellectual property, and dismal spending on durable goods, residential construction activity was up a healthy…

The Friday file: While thought since 1917 to result from carbon dioxide being released by bacteria, repeated CT scans of Swiss cheese during its entire 130 day ripening period convincingly show that its distinctive holes are a result of microscopically…

Despite harsh words and deadlines that are always missed, the EC/ECB/IMF and Greece will make a deal freeing up billions to save Greece from bankruptcy. Whatever temporary agreement is forged will look great on paper and allow everyone to save…

Over the past year, the unemployment rate declined in every state but North Dakota, where it rose from a microscopic 2.7% to 3.1%, the second lowest rate in the nation, behind only Nebraska at 2.5%! DC has the highest unemployment…

$2 trillion in US corporate foreign earnings are overseas since repatriation would create huge tax liabilities. Obama wants to bring the money home by offering firms one-time corporate tax relief. Not likely. Republicans feel the proposed 14% rate on repatriated…

The Friday File: On 5/5/1868, the Grand Army of the Republic, an advocacy group of Union Army Civil War veterans, established Decoration Day as a day to decorate graves of the war dead with flowers. Following WWI, Memorial Day was…