70 Words
The Friday File: While Olympic gold medal winners receive $25,000, silver medalists $15,000 and bronze winners $10,000, courtesy of the US Olympic Committee, they pay income tax on those winnings. Now our braindead Congress wants to make those awards tax…
Annual US healthcare spending is $8,713/person, by far the highest in the world. Switzerland comes next at $6,325/person, followed by Norway at $5,852/person. Canada is 10th at $4,351/person, less than half the US total. Among developed nations, Korea spends the…
January through June 2016 GDP growth was a dismal 1% on an annualized basis. A key culprit, inventories sliced 1.2 percentage points off GDP in Q2 and have now subtracted from GDP growth for 5 straight quarters, the first time…
Despite terrorism and global concerns, American equities are surging. It’s because consumer spending is strong, inflation and wages are rising but pleasantly slowly, bank lending is up, energy prices seem to have bottomed, industrial production is rising and while the…
Household debt rose by $35 billion in Q2, led by a $32 billion rise in auto loans and a pleasant $17 billion jump in credit card balances. Student loan levels were unchanged and mortgage and HELOC debt declined by $7…
The Friday File: Since 2006, ten artists have turned over $1 billion at auction. Top of the list: Pablo Picasso at $3.43 billion, followed by Andy Warhol at $3.38 billion, Zhang Daqian at $2.03 billion, Qi Baishi at $1.91 billion…
Last week, the Bank of England halved its interest rate to 0.25%, the lowest rate in its 322 year history! It also announced a new round of short-term government bond-buying totaling $80 billion and two other programs to stimulate the…
From mid-2014 through 12/15, the US dollar appreciated 25%. This rise was a major reason why the Fed only raised rates once in 2015. Since the start of 2016, however, the US dollar has fallen by 4% despite central bank…
In 2014, the inheritance tax affected 5,200 estates, roughly 0.2% of those who died. And, the inheritance tax generated $19.3 billion or 0.6% of all federal revenue, down from 1% in 1990 due to increases in the size of the…
With 255,000 net new jobs created in July and upward revisions to prior months, Friday’s job report was stellar. While the unemployment rate held steady, it’s because a huge number of persons entered the labor force. Moreover, the work week…