While the final Republican tax plan is still a work in progress that may never become law, one thing’s very clear; its philosophy is to tax people, who are relatively immobile, and lower taxes on corporations, which can much more…
Last week the ECB decided to purchase €30 billion/month in bonds, down from the current €60 billion/month, through at least next September rather than a higher amount/month for a shorter period. While seemingly academic, here’s why. Markets must now consider…
As Measured by the Conference Board, October consumer confidence came in at 125.9, the highest reading since 12/00. This elevated level is a result of rising equity and home prices and an unemployment rate of just 4.2%, its best level…
October’s 261,000 net new jobs was good, as were upward revisions to August and September totaling 90,000. Unemployment fell to 4.1%, its lowest level since 12/00, the broadest measure of unemployment fell to 7.9%, tops since 12/06, and job growth…
The Friday File: The smallest nation to ever qualify for the World Cup is Iceland, which, with a population of 335,000, will play in 2018. Prior to Iceland, the smallest nation to contend was Trinidad and Tobago, which competed in…
For the first time since 1978, a first-term president hasn’t reappointed the incumbent Fed chair. Instead, President Trump will appoint existing Fed governor Powell. He will continue the process of gradual rate rises established by outgoing chair Yellen, but offer…
Pending home sales were flat in September and that was the highlight of the report. The index is at its lowest level since 1/15, and has declined Y-o-Y in five of the last six months. Moreover, in the Northeast the…
Between 1300 and 1850, 80,000 people were tried for witchcraft in Europe. Half the trials and executions took place between 1560 and 1630, during the Protestant Reformation. On a per capita basis, Switzerland held the most trials, 980/100,000 people, and…
The US economy easily shook off the effects of recent hurricanes and GDP in 17Q3 rose by 3% following a 3.1% rise in 17Q2, the best two-quarter performance since mid-2014. That said, Y-o-Y GDP growth is still just 2.3% and…
The Friday file: It takes 40 gallons of sap to make 1 gallon of maple syrup, and each tree produces 15 gallons of sap/year. 72% of global maple syrup comes from Quebec, down from 82% in 2003. Trees can only…