Econ70
With Bernanke’s term at the Fed up in January, Obama will have to name a successor. That person should be Stan Fisher. In addition to having an outstanding record as Governor of the Bank of Israel, he’s a skilled diplomat,…
Read MoreIn a sign of reduced economic stress among households and firms, total US bankruptcy filings are down. They fell from 104,537 last February to 82,285 this February, a fall of 21%. Consumer filings declined from 99,378 to 78,611 while commercial…
Read MoreWhile small, the Cypriot bank bailout is causing heartburn across the Eurozone. At its peak, the banking sector had assets eight times GDP and now needs $13 billion. If Cyprus borrows the money, their debt-to-GDP ratio becomes unsustainable. Writing down…
Read MoreThe Friday File: With a papal conclave fast approaching, Cardinal Peter Turkson from Ghana is the leading contender with odds of 11-4 that he leaves the conclave as pope. Next is Archbishop Angelo Scola of Italy at 3-1 and Cardinal…
Read MoreDespite a boom in residential construction activity, construction employment growth has remained lackluster and is up just 100,000 from the trough in early 2011. This is because residential building declined by more than residential employment resulting in value added/worker falling…
Read MoreIn another sign of good news for home building, TRI Pointe Homes’ IPO was the sector’s first since 2004. The firm raised $233 million selling 13.7 shares at $17 on 1/31/13. Today’s close, $18.45. And, it looks like Taylor Morrison…
Read MoreDuring the 1990s, the percentage of new mortgages guaranteed by Fannie and Freddie averaged about 44% and that number rises to about 55% if you add FHA and VA loans. During 2005 and 2006, those numbers fell to historic lows…
Read MoreDespite sequestration calling for $110 billion in annual cuts, the full impact will not be felt until after 2015. Outlays will be reduced by $44 billion in FY 2013, by $89 billion in 2014, and $102 billion in 2015. Full…
Read MoreThe Friday File: Being required to wear a bicycle helmet reduces head injuries for 5-19 year olds by 13%. But, and there’s always a but, it also reduces non-head bicycle injuries by 9%, and results in an 11% increase in…
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