Econ70

The Friday File: Americans bought 257 million albums last year of which a surprising 9.2 million were vinyl. Individual song sales totaled 1.1 billion, while streamed songs totaled 164 billion! Purchases of albums and individual songs fell about 10%, vinyl…

In 2014, the yield curve flattened considerably as long-term interest rates, like the ten–year Treasury bond, fell by about three-quarters-of-one-percentage point while short-term rates were completely unchanged. In 2015, I expect the yield curve to flatten further, but now it…

Helmetless motorcyclists admitted to a hospital following an accident typically run up medical bills of greater than a million dollars, and taxpayers pay well over half the tab. The solution: where helmets are not required, force un-helmeted bikers to carry…

Inflation, as measured by the Christmas Price Index, based on purchasing all 12 items in “The Twelve Days of Christmas,” rose 1% in 2014 and now stands at $27,673. The most expensive item: seven swans-a-swimming at $7,000. Six geese-a-laying rose…

The Saudis export seven million bbl/day of oil, and their budget is balanced at $106/bbl. At $60/bbl, Saudi Arabia’s budget deficit is $118 billion/year: 12.7% of GDP! Saudi Arabia has foreign reserves of $750 billion to help withstand this. But…

The Friday File: 21% of Americans have at least one tattoo, up from 15% during the middle of the last decade. 26% of persons in the West have one, compared to 21% in the East and Midwest, and just 18%…

Between 2002 and 2012, real median incomes of the 16% of US households headed by someone without a high school diploma fell at an average annual rate of 2.4%. Among the 51% of households with a high school diploma but…