Econ70
The Friday File: The UN has decided to limit the reports it publishes to a maximum of 10,700 words. They are doing it to save $ and reduce burden on translation services. This will also save a lot of diplomat’s…
Read MoreThe Institute of Supply Management’s August manufacturing report was very weak with a reading of 50.4 barely above the 50 level, indicating expansion. And, its steadily decline from a high of 61.4 in Feb is troubling. But, don’t fret. Other…
Read MoreThe DOJ’s decision to block AT&T’s takeover of T-Mobile is good policy because the loss of T-Mobile would have probably raised prices and reduced handset offerings. But, the win will be phyrric if T-Mobile cannot sell itself soon as it’s…
Read MoreThe Federal Reserve still has options, short of QE3, if it wants to encourage more lending. First, it can reduce to zero the rate of interest it pays banks on deposits held at the Fed. Second, it could sell short…
Read MoreThe Friday File: Though the US no longer makes high-tech stuff like ipads and cell phones, or low tech stuff like shoes, we are a paper clip powerhouse. Most of the 11 billion sold, made in the US. Why? Since…
Read MoreNHTSA recently concluded that equipping large school buses (those weighing more than 10,000 lbs) with seat belts is unnecessary. NHTSA claims large busses are among the safest modes of transit and that when children are killed, seat belts would not…
Read MoreDespite a perpetually lousy economy, the Yen continues to rise; Three reasons. First, deflation makes the Yen worth more tomorrow than today encouraging investors to hold it despite microscopic interest rates. Second, Japan’s large trade surplus ensures continued demand for…
Read MoreResearchers at the Federal Reserve Bank of San Francisco find that 2.7% of consumer spending went to Chinese made items. Moreover, for every $1 spent on Chinese made goods, fully 55 cents goes to US businesses for services like shipping,…
Read MoreThe Friday File: The US Tax Court just ruled that under the Parsonage Allowance of 1921 an ordained clergy member may now live tax-free in an UNLIMITED number of homes owned by his or her religious organization, or receive a…
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