In Q3/15, retail e-commerce sales were $87.5 billion, up 4.2% from Q2/15. Total retail sales in Q3/15 totaled $1.185 trillion, up 1.2% from Q2/15. Retail e-commerce now represents 7.4% of all retail sales, up from 6.5% a year ago. Moreover,…
While Japan is again in recession with GDP falling by an annualized 0.8% in Q3 and 0.7% in Q2, looks are deceiving. The population peaked at 128 million in 2008 and will shrink by about 800,000/year through 2060, an average…
Given that the only criteria for a currency obtaining Special Drawing Right (reserve) status by the IMF are that the nation be a big exporter and the currency widely used, the decision to add the Chinese yuan to the dollar,…
The Friday File: Since 1972, no candidate finishing lower than second in the New Hampshire presidential primary has won his party’s presidential nomination. By contrast, because the Iowa caucus is heavily dominated by activists who are not representative of primary…
While the labor force participation rate is 62.4% down from 65.7% when the recession ended, those workers won’t return. They’ve retired, are students, are disabled or care for a family member. Slack is the sum of discouraged, marginally attached and…
In 1918 during WWI, US GDP was $75.8 billion and the budget deficit was 12% of GDP. In 1919, GDP was $78.3 billion; the deficit, 17% of GDP. By 1942, GDP was $148 billion and the wartime deficit was 14%…
China’s economy continues to slowly weaken. Y-o-Y inflation is just 1.3% and declining, producer prices fell 5.9% and have been falling for 44 consecutive months. Imports fell 18.8% primarily due to slowing demand from for raw materials from heavy industry,…
Friday’s employment report rocked! The unemployment rate fell from 5.1% to 5.0%, net job growth was a strong 271,000, and in what may be the start of something big, average hourly earnings rose 2.5% Y-o-Y, its best showing since 7/09.…
The Friday File: In some sports the difference between success and failure is tiny. In the 100-yard sprint, hundredths of seconds make all the difference, same is true in downhill skiing. Add NHL goaltending to the list. Today, superstar goalies…
When Turing Pharmaceuticals acquired Daraprim, they raised the price from $13.50/dose to $750/dose because they had a monopoly on it. In 2010 China tried to corner the market in rare-earths by reducing exports; prices quickly rose 1000%. Then economics kicked…