In 7/20, 52% or 26.6 million adults ages 18-29 lived with at least one parent, up from 47% or 24 million in 2/20. This is the highest percentage since at least 1940 when it was 48%. This percentage bottomed at…
The Friday File: In 20Q2, liquor imports totaled $1.8 billion, down from $2.5 billion in 19Q2. The decline has been severe for whisky and cognac/brandy; vodka and gin sales haven’t budged. With bars/restaurants closed, demand for high-end cocktail hooch is…
In 2013, Exxon’s market capitalization was $415 billion, and it was the most valuable firm in the world. Today, it’s worth $180 billion. In 2008, energy comprised 13.3% of the S&P 500, today, it’s 2.5%. Recently, the Dow Jones Industrial…
Despite new auto sales being down but rebounding nicely, car prices are regularly setting price records. In August, the average new vehicle went for $35,420, up 6.1% Y-o-Y. The combination of limited inventory, cheap money, longer-term auto loans, inexpensive gas,…
August’s employment report was strong. 1.4 million new jobs, a higher labor force participation rate, and a decline in the unemployment rate to 8.4% from 10.2%! Ignoring the hiring of 238,000 temporary Census workers, job growth is still down from…
The Friday File: This Labor Day 67% of us will grill, 36% will watch a movie, 35% will enjoy quiet time, 27% will do an outdoor activity, 26% will attend a party, and 23% will go shopping. In the Before…
Prior to the Housing Bust, the US Debt-to-GDP ratio was 35%, and prior to Sars-Cov-2 the ratio was 82%. By the end of 20Q2, it was 105.5% of GDP, a staggering rise resulting from $2.8 trillion in new spending and…
After making $2.8 billion in airline ticket change fees in 2019, 15% of all revenue, the three legacy carriers have largely eliminated them (until they reimpose them). Carriers are desperate to encourage air travel, as the airline recovery stalled in…
Car Costs After essentially flatlining since 2014, used car prices collapsed by about 15% during the Great Lockdown of March/April 2020. Since then, they have staged a furious rally, making up all losses and some. Why? A sudden reluctance to…
If Congress and the President fail to reinstitute a federal top-up to the expired $600/week in enhanced unemployment benefits, by January GDP will decline by 1.25%, one million jobs will be lost, and the unemployment rate will rise by 0.75…