While housing starts have been steadily rising since 2011, and existing sales have been growing, albeit very slowly of late, for even longer, things may slow going forward. A combination of suddenly higher mortgage rates, new tax laws that mildly…
The Friday File: The world’s most expensive stock (if you can call it that) chocolate bar that isn’t coated in edible 24-karat gold leaf, that doesn’t come with a rare gold coin, and that doesn’t weigh over 100 lbs, is…
Since 1995, DC has imposed a curfew for those under age 17 to improve safety. Regrettably, after examining the data, the policy has made things worse. The curfew increases gunfire incidents by 0.045 per precinct, or about seven more gunfire…
In 17Q4, US household wealth rose by slightly more than $2 trillion to a record $98.75 trillion, or 6.8 times disposable income, surpassing the previous record of 6.52, in 06Q1. The increase in wealth attributable to the soaring stock market…
Last Friday, the current bull market turned nine, the second longest bull since the 1942, but still several years away from the 1987-2000 record bull. How much longer can it last? Who knows, but don’t look to the stock market.…
February’s job report was stellar! 313,000 net new jobs, the best increase since 7/16, and upward revisions to December and January totaled 54,000. Moreover, the labor force participation rate rose from 62.7% to 63%, a rate not bettered since 3/14.…
The Friday File: In 1974, Hungarian architecture professor Erno Rubik invents what is now known as the Rubik’s cube. It has 43,252,003,274,489,856,000 possible combinations, or 43 quintillion. Since its introduction in 1980, 400 million have been sold, and currently global…
With 325 million people, the US is the world’s third largest nation behind China with 1.4 billion and India with 1.3 billion. By 2100, India will be the biggest at 1.5 billion, followed by China at 1 billion, Nigeria at…
In 1967, 8.1% of households earned more than $100,000 inflation adjusted, 53.2% (the middle class) earned between $35,000 and $100,000, and 38.7% earned less than $35,000. Today, 27.7% of the population earns greater than $100,000 (three times the percentage back…
While US household debt is slowly rising, as a percentage of GDP it’s 20 percentage points below its housing bubble peak of 100%. Nations with fast rising and high household debt-to-GDP ratios include Switzerland at 130%, Australia at 120%, Canada…