Last week, Q2 GDP was upwardly revised to a still-anemic 1.4% from 1.1%. Two measures of consumer confidence rose, with one hitting its highest level since 2007. Moreover, the Fed’s favorite inflation indicator rose by one-tenth of a percent in…
Every dollar spent on UberX (Uber’s version of a regular cab) in the US results in an additional $1.50 of benefit, almost $7 billion/year. That’s why we all say “what a deal” when we exit an Uber. While customers follow…
The Friday File: In 2014, US music downloading totaled $2.6 billion, down from $2.8 billion in 2013, and accounted for 37% of music sales. Physical sales of CDs/LPs totaled $2.1 billion, from $2.3 billion in 2013, and represented 32% of…
Surprising many, OPEC announced it may cut production late this year by as much as 700,000 bbl/day, an amount representing about two-thirds of the current global oversupply. However, it’s also an amount easily made up by US fracking activity that…
In 2015, the male median full-time wage was $51,212 while it was $40,742 for women. Women now make 80% of what men do, up from 78% in 2007 and 60% in 1980. Economists estimate that half the gap stems from…
The Bank of Japan’s decision to target a 0% yield on 10-year Japanese government bonds should reassure the government that it can run bigger deficits without triggering a jump in debt service costs, thereby promoting increased spending. But with a…
With viewership expected to reach as high as 106 million, the price for a 30-second pre- or post- Clinton-Trump presidential debate ad (the 90-minute debate is ad free) on a major network is $225,000. While a far cry from the…
The Friday File: Through 12/31/15, 80% of the adult US population had taken at least one airplane trip in their life, up from 49% in 1971. Last year, 45% of the adult US population flew compared to 21% in 1971.…
Yesterday, the Fed came as close as you can to raising interest rates, without actually raising them. Assuming the general election doesn’t send markets into a tailspin, rates rise by 0.25% on 12/14/16. Interestingly, Fed members reduced their expectations about…
While Apple broke no Irish laws, it was masterful at tax avoidance. To wit, Apple paid a microscopic 0.005% of its profit in taxes, 1/2500th of the 12.5% official Irish rate, between 1991 and 2007. It may now retroactively owe…