Initial jobless claims for the week of 1/15 unexpectedly improved dipping to 404k from the downwardly revised 441k the week prior. This should translate into a better payrolls report when the data are released on 2/4. Also, the architectural billings…
Yes, building permits surged a pleasant 17% MoM in December. But consider that a 1-month wonder due to a builder rush to get applications in ahead of building code changes that were going into effect on 1/1/11 in NY, PA…
Ever wonder how much federal tax you pay? The answer (with some assumptions) depends on 4 tax rates. 1st you pay the combined income and payroll tax on earnings. 2nd you pay the corporate tax while you invest your money.…
The Fed sees the economy through the lens of a wealth effect stimulating consumer spending. And gains in the stock market have helped achieve that but only 20% of Americans own equity directly. But we all eat and most of…
In the past 3 years, the Federal Reserve’s balance sheet has expanded by $1.5 trillion yet nominal GDP has managed to rise by only $500 billion. Moreover, the U.S. public debt has exploded by about $5 trillion over that same…
Despite recent enthusiasm real incomes are under pressure. With the 0.5% hike in the December U.S. CPI, real wages fell 0.4% and have fallen in 3 of the 4 last four months. The pace over the past 6 months is…
Measures of investor sentiment are irrational―the bear share in the latest Investor Intelligence poll is down to 19.1% from 20.5% last week. The bull camp is all the way up to 57.3% from 54.5%. Back on Labor Day, the Investor…
From the recently released Decennial Census we see that 7 of the 9 states (AK FL NH NV SD TN TX WA WY) that do not levy an income-tax grew faster than the national average. And, the other two ND…
If profits are booming why aren’t jobs plentiful? Well, from what I can tell the bulk of earnings this cycle were derived offshore and since U.S. companies get “dinged” on earnings they remit home what happens is that the foreign-derived…
In December’s employment Report, temp agency employment rose 16k, up now for five months in a row, & ended up accounting for about 30% of the total employment growth in the economy last year. Sadly, what was once a good…