The just negotiated temporary arms control agreement has several vulnerabilities that must be dealt with. When Iran cheats in small ways, and they will, the penalties must hurt. We must also prevent Iran from becoming a nuclear state by building…
The number of FDIC insured institutions peaked at 18,083 in Q1/1986. As of Q1/2015 they numbered 6,419, a 64.5% decline. Bank employment was 1.6 million in Q1/1986, peaked at 2.2 million in Q1/2007, and is now 2 million. Quarterly profitability…
With half of Chinese-listed companies having suspended trading, with short selling prohibited, the Chinese Central Bank giving money to firms to buy shares, and the government relaxing rules on mortgage borrowing to encourage stock purchases, it’s clear the Communist Party…
The Friday File: Taking Alexander Hamilton off the $10 bill is a travesty! He consolidated the debts of the states, gave us federalism, wrote most of the Federalist Papers, saved us from a Burr administration, set up a strong federal…
While crude prices decline, pump prices are up. It’s because in summer we drive slightly more and refiners must switch to summer-blends which evaporate slower and cost more. Moreover, because there are many different summer fuel-blends required by the EPA,…
Oil has suddenly fallen from $60/bbl to $52/bbl, near the multiyear low of $45/bbl set in Q1/15. This is because: Iran plans to increase exports once sanctions are lifted, OPEC is increasing production, US oil-rig counts rose for the first…
Household spending should remain healthy for four reasons. First, household net worth hit a record $84.9 trillion in Q1/15, up $1.6 trillion from Q4/14 and the ratio of household net worth/personal disposable income (PDI) is at its highest level since…
Given the huge victory handed to Greek PM Tsipras, he can’t accept a proposal that is largely similar to the one already rejected. He must show the Greeks one that is better. Europe doesn’t wish to make a much improved…
The Friday File: Americans will spend $6.6 billion on food and retail purchases celebrating July 4th, up 6% from 2014. 64% of Americans will attend a cookout/barbecue and probably eat at least one of the 150 million hot dogs sold…
Today’s labor numbers were OK. First-time claims for unemployment remain very low at 281,000, employment growth is solid averaging 208,000/month YTD, and unemployment is just 5.3% with full employment less than a year away. But, wage growth remains weak averaging…