Econ70

Prior to the Russian takeover of Crimea in 2014, new automobile sales in Russia were at a rate of about 200,000/month or 2.5 million a year. After the annexation and the imposition of some sanctions by the West, which meaningfully…

Y-o-Y CPI inflation eased to 8.3% from 8.5% in April, the first decline since 8/21, but the decline was tiny. Worse, while core-inflation, which excludes food and energy, slid from 6.5%, to 6.2%, M-o-M it rose 0.6% from 0.3% in…

Since 2012, consumer credit has risen $15-20 billion/month. Non-revolving credit, which includes student and auto loans, accounts for two-thirds of the monthly rise and revolving credit, which consists of credit-card accounts, comprises the rest. Since 11/21, consumer credit growth has…

The economy created a whopping 428,000 jobs in April despite a very tight labor market, suggesting good growth. However, the labor force participation rate eased slightly, probably to be soon reversed, and more puzzling, wage growth rose just 0.3% M-o-M…

The Friday File: In a new study, researchers find dog breed is responsible for only 9% of variations in dog behavior. Physical traits were more closely linked to breed type with ear shape having the closest connection. Howling was the…

In 2022, crypto hacking has been occurring at the rate of one hack/week, the same pace as in 2021. The difference, since late last year, the amounts stolen have risen. Since August, hackers have made off with $2.9 billion in…

In March, the number of job openings hit 11.55 million, the highest level ever, while the number of unemployed persons was 5.95 million, meaning there are 1.94 jobs/job seeker, staggering! With so many openings, the number of quits (all of…

Between 1970 and today, US automobile fuel efficiency roughly doubled for both cars and light trucks. During the same time the US population increased by 54% and the number of vehicles on the road grew by 141%. Moreover, there has…

Looking out six to 12 months, the biggest concern I have is commodity inflation including energy, food, and metals. Next on the list is the tight domestic labor market and the continual wage inflation it generates. Third, the steady rolling…

The Friday File: Based on the number of album units sold (AUS), with an album equaling 1,250 streams on a paid subscription platform or 3,750 streams on an ad-supported platform, the Beatles are tops with 183 million AUS. Garth Brooks…