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The Friday File: During the upcoming 31st Olympiad, the US team should win more gold medals (40) and more silver medals (60) than any other. China will come in a close second, with 35 gold and 45 silver. Like in…

Inflation, as measured by the personal consumption expenditure index, the Fed’s preferred measure, was just 0.9% for the year ending 6/16, and core inflation (which removes food and energy) was 1.6%, both below the Fed’s 2% target. However, goods inflation…

When investors were recently asked what the likelihood was of a crash similar to Black Tuesday (October 29, 1929) or Black Monday (October 19, 1987) occurring during the next six months, the median response was 10%. The actual probability, 1.7%.…

Last week, we learned that the seasonally-adjusted homeownership rate declined to 63.1%, the lowest level since 1965, yes 1965, and a steep fall from the peak of 69.4% in 04Q2. Since the start of the recession in 01/08, there’s been…

The US economy sputtered in Q2, growing at a rate of just 1.2%/year! Consumer spending rose a strong 4.2%, exports jumped 1.4%, and real final private sales increased 4.8%. But, government spending was down 0.9%, residential fixed investment declined 6.1%,…

The Friday File: Dutch men, at almost 6’ and Latvian women at 5’7” are the tallest in the world. Men from Timor-Leste, at 5’3” and Guatemalan women, at 4’11” are the shortest. American men at 5’10” are 37th tallest, while…

Yesterday’s Fed statement suggesting that “near-term risks to the economic outlook have diminished” that “job gains were strong” and “household spending has been growing strongly” indicates a Fed that’s again taking steps to prepare the market for a rate rise,…

After peaking at $70.7 billion in 9/14, new orders for non-defense capital goods excluding aircraft (core capital goods), have been steadily falling and were just $62.3 billion in 6/16. They are down 3.7% Y-o-Y; 3.8% YTD. New orders for all…

While existing home sales in June were at a seasonally-adjusted annual rate of 5.57 million, their highest level since 2/07, sales remain 22% off the peak of mid-2005. A key reason; a low inventory that essentially hasn’t budged since late…

While most nations are struggling mightily with how to boost inflation from microscopic levels, Venezuela has more than enough. This year, Venezuelan inflation is expected to reach 500%, and in 2017, a terrifying 1,650%. Declining oil prices alone hurt, but…