While a wealth transfer exceeding $20 trillion from the Silent Generation (pre-1946) is underway, Boomers (1946-1964) hold $100 trillion and Gen X (1965-1980) $50 trillion, and they’re living longer especially if they’re very high income. Thus, when heirs inherit money…
February and March new home sales rebounded from January’s dismal 583,000 seasonally adjusted annualized sales (SAAS), the weakest monthly total since 10/22. Yes, March sales were up 7.4% M-o-M but were up just 3.3% Y-o-Y, and sales have been tightly…
March auto loan default rates rose to their highest level since 2010. 30% of 26Q1 borrowers were upside down and owed an average of $7,200 on their trade-in, a 42% jump compared to 2021. These borrowers have higher payments and…
On 3/31/26, publicly held US debt totaled $31.265 trillion, and GDP was $31.216 trillion, putting the debt/GDP ratio at 100.2%. It’s fast approaching the post-WWII 1946 peak of 106.1%. At present, 1/7th of all federal spending is interest payments. The…
The Friday File: The Las Vegas Sphere, which opened years late in 9/23 and almost $1 billion over budget, is now profitable, and is the world’s highest earning arena. Last year it grossed $379 million on 1.7 million tickets. That’s…
March economic data has been excellent but may be quite misleading. Housing starts were hot, employment growth was excellent and retail sales rocked, but income tax refunds supported spending, households are stockpiling in anticipation of war-related price hikes, and there…
Powell’s last Fed meeting as Chair was notable for four dissents, most since 1992. Miran, a Trump appointee there to hold incoming chair Warsh’s seat, as usual wanted a cut, but three bank presidents objected to any “easing bias” suggesting…
The 5% wealth tax on billionaires residing in CA on 12/31/25 is expected to be on the November ballot. The SEIU-UHW estimates the tax will raise $100 billion. A recent nonpartisan California Tax Foundation analysis estimates the tax will reduce…
The price gap between dated Brent (reflecting trading/pricing for a given cargo of crude oil as it’s loaded into a crude carrier) vs front-month Brent futures (which is priced for delivery in several months) is usually $1-$2. Currently it’s $25…
The Friday File: While Ken Jennings’ record of 74 games and $2,520,700 in winnings is not yet in jeopardy, at 30 games and counting, Jamie Ding is just two wins away, tying James Holzhauer for 4th place. As for total…