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The third and final estimate of 17Q1 GDP growth came in Thursday morning at 1.4%, a month ago the second estimate was 1.2% and two months ago the first estimate was just 0.8%; quite a difference. Three months after 17Q1…

Since at least 1/1/13, every $10 increase or decrease in the price of crude oil has resulted in an increase or decrease of 185 oil rigs across the US. Moreover, the impact is quite quick. This means if the recent…

With inflation rates and inflation expectations declining and the yield curve flattening, the Fed may find it more difficult than they thought to raise rates by one-quarter of one percent this coming September. If that’s the case, the Fed could…

While May housing starts rose 2.9% compared to April, 8.9% Y-o-Y, and 12.2% YTD, sales were weak in 16Q1 making comparisons easy. Critically, the median new home price surged 16.5% Y-o-Y to $345,800 while the average jumped 16.1% Y-o-Y to…

The Friday File: While the accounting is very dodgy, Uber’s revenues are up spectacularly, from $1 billion in 16Q1 to $3.4 billion in 17Q1, and gross bookings are up from $3.8 billion in 16Q1 to $7.5 billion in 17Q1. However,…

With the unemployment rate at a 16-year low, faster growth requires getting people to work who are currently unwilling. To entice more women, targeted parental leave should be offered. For the elderly, reduce their income taxes by two percent for…

Nine years after the government takeovers, there’s again talk of reforming Fannie and Freddie; good luck! Builders, Realtors, bankers, and investors want a strong government guarantee to backstop the $10 trillion mortgage market and keep the popular 30-year fixed rate…

There are 870 federal court judgeships with lifetime appointments. 122 are vacant, giving Trump the chance to appoint 13% of the judiciary, the second highest percentage an incoming first-term president has enjoyed dating back to at least 1969, a much…

Surprisingly, Y-o-Y housing starts fell 5.5% in May. YTD, single-family starts are up 7.4% but multi-family starts are down 2.8%. Continuing that theme, total starts are progressively weakening due to MF activity plunging from a +20% Y-o-Y increase in January…

The Friday File: Father’s Day spending is expected to reach a record $15.5 billion this year, up from $14.3 billion in 2016. $3.3 billion will be spent on experiential activities, followed by $2.2 billion on gift cards and an equal…