While turkeys don’t fly, their cost are soaring. The price of an 8- to 16-pound frozen turkey is $1.35/lb. up 27% Y-o-Y, largely due to frozen bird inventories being down 30% from their 2016-2020 5-year average. Accordingly, the American Farm…
President Biden reappointed Chairman Powell to a second four-year term as Fed Head. Simultaneously, he promoted Lael Brainerd from Fed Governor to Vice Chair. With these titles, both will enjoy easy Senate confirmation. President Biden still has three more positions…
In 20Q1, mailed credit-card solicitations totaled 931 million. They collapsed to just 352 million in 20Q2, but by 21Q3 recovered and hit 940 million. Better yet for consumers, cash-back card offers hit 1.11% during 21Q2 and 21Q3, their highest level…
The Friday File: An NBA basketball’s diameter is between 9.43 and 9.51 inches. The hoop has a diameter of 18 inches. A ball hitting the center has roughly 4.25 inches between the edge of the basketball and the hoop. Shots…
During the 1980s, federal payments to individuals including Social Security and Medicare was 10% of GDP. From 1990 till the Housing Bust it was about 12%. During the Bust it hit 15%, but quickly fell and was 14.5% on the…
During 2/20, the unemployment rate was 3.5%. There were 5.7 million unemployed persons and the labor force, composed of those working and those looking for work, was 164.5 million. During 10/21, the unemployment rate was 4.6%, composed of 7.4 million…
In a sign of perhaps peaking inflation, annual wage growth declined from 4.2% to 4.1% in October, the first decline since 4/21, immediately prior to the recent dramatic run-up in inflation. Moreover, the decline was widespread, extending to hourly workers,…
Compared to 1/1/19, inflation-adjusted US purchases of services has fully recovered, great news. The problem: purchases of goods remain up by almost 20%! Apparently, Covid-19 habits die hard. The US economy is not suffering from anything resembling stagflation. Rather, we…
The Friday File: It turns out that, on average, we are more likeable than we think we are. The Liking Gap was first demonstrated in 2018. Researchers randomly paired persons for five-minute conversations after which each participant was asked to…
Montana and Virginia are the states with the highest percentage of veterans among their civilian population over 18, at over 10%! States with 8.0%-9.9% and going from west to east are WA, NV, ID, AZ, WY, NM, CO, ND, SD,…