Since 1960, the president that ran the largest average deficit during his time in office was Obama, with an average of 5.7% of GDP, Reagan follows at 3.8%, George H.W. Bush at 3.7%, and Kennedy at 3.3%. By contrast, Clinton…
The Friday File: The amount of the greenhouse gas carbon-dioxide produced per kilogram (2.2 lbs) of boneless beef is 26.61 kilograms. Lamb follows at 25.58; both are ruminants. Each kilogram of pork embodies 5.77 kilograms, a kilogram of chicken, a…
Outstanding household debt rose $193 billion in 17Q4 to a record $13.15 trillion, 67% of GDP, down from 87% of GDP at the peak in 2009. The delinquent share of total debt is 3.12%, down from 3.19% in 17Q3. Mortgage…
The 54.7% of American romantics who plan to celebrate Valentine’s Day are expected to spend $19.6 billion this year, or $146/person, up from last year’s disappointing $18.2 billion, but below the all-time high of $19.7 in 2016. Total planned spending…
In 2017, the economies of the 45 largest democracies with market economies grew in unison. That was the first time this has occurred since the years 2004-2007. Looking back in history to 1979 and including the periods already mentioned, synchronized…
Average hourly earnings of private non-farm employees rose 2.9% Y-o-Y in January. This roiled markets; it was the largest gain since 5/09. But, the gain was exclusive to supervisory workers whose Y-o-Y gain was 3.9%! This fluke outcome occurred because…
The Friday File: With the 2018 Winter Olympics and its 102 events upon us, the question is “How will Team USA do?” While predictions are particularly hard when state-sponsored performance enhancing drug programs are involved, the USA should win 10…
The US budget deficit hit 9.8% of GDP in 2009. It then steadily declined to 2.4% in 2015, thanks to curbs on defense and discretionary spending worked out by Obama and Republicans, ultra-low interest rates, and rising tax revenues due…
One key component of GDP is corporate investment in equipment and 2018 should be good. The combination of tax cuts, improved business confidence, strengthening global demand, high enough oil prices, a weaker US dollar, very low unemployment, and concomitantly rising…
After a decade of weak inflation, suddenly synchronized global growth, the fastest US wage increase since 6/09, and fiscal stimulus from the GOP tax cut have convinced investors it will become pervasive. This, they fear, will cause the Fed to…