The Friday File: The wealthiest 80 people on the planet have a combined worth of $1.9 trillion, the same as the total wealth of the bottom half of the world’s population; 3.5 billion people. The wealthiest 1% of the population,…
Over the last year jet fuel prices fell 23.5% but fares only declined 4.7%! It’s because fuel is 26% of the cost of a ticket, and airlines hedge their fuel needs to guarantee price stability which prevents them from realizing…
Real median household income in the USA in 2013 was $51,939, up a microscopic $181 from 2012. Moreover, it’s back to the level first achieved in 1989! As a result the expected average household savings of $750 on gasoline in…
Job quality is finally improving. Last year, industries that paid more than the average private wage of $24.57 accounted for 66% of all jobs created. Business services at $29.27/hour created 26% of all new jobs followed by goods-producing at $25.81/hour…
The sudden decision by the Swiss National Bank to allow the Franc to freely float against the euro not only destroyed the SNB’s credibility, resulted in huge losses on its euro-bloated balance sheet and unleashed deflation in Switzerland, but also…
The Friday File: While some argue that skyrocketing CEO pay is linked to performance, recent research suggests otherwise. Looking at CEO compensation across US firms, British academics find that firms that hired compensation consultants paid their CEOs 7.5% more than…
In calendar year 2014, the budget deficit was $488 billion, $72 billion less than in 2013 and the smallest deficit since 2007. Since the start of 2010, revenues have risen from $2 trillion to $3 trillion, while spending has been…
President Obama’s December Executive Order granting temporary immigration relief will boost GDP by 0.5% over the next decade, while the 2013 Senate-passed immigration bill would have boosted GDP by over 3%. Obama’s Order helps primarily undocumented immigrants, most with very…
Before oil prices can rise, production must decline and/or demand must rise and demand won’t increase anytime soon with Europe, Japan and Brazil weak, Russia in recession and China slowing. That means supply must fall and that will probably require…
While the economy created 252,000 jobs in December and 2.95 million last year, the most since 1999, and the unemployment rate fell to 5.6%, looks can be deceiving. The steep unemployment rate decline is because the labor force participation rate…