With the arrival of the Omicron variant, Fed fear of inflation has unseated unemployment as problem #1. Just as the Delta variant weakened GDP growth and worsened supply-chain problems, the fear is that a replay is in the offing with…
From 7/21 through 10/21, real personal consumption steadily rose from an annualized rate of $13.65 trillion to $13.88 trillion, a roughly $200 billion rise. Simultaneously, real disposable income steadily shrank from $15.74 trillion in July to $15.43 trillion, a decline…
Rather than raising rates to fight inflation, Turkish President Erdogan is lowering them in an idiotic effort to drive growth by weakening his currency. It’s already fallen 40% this year, and annual inflation is minimally 20%. A weaker currency helps…
The Friday File: In 2008, the USPS and UPS each delivered about 3.5 billion packages in the US while FedEx delivered almost 2 billion, a total of almost 9 billion, or 30 packages/person. In 2020, the USPS delivered slightly more…
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…