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The ECB’s stress test of the largest Eurozone banks found that 25 of 150 failed. Hardly inspiring. Moreover, there’s no indication any of these banks will soon boost lending. That said, if these results raise confidence enough to begin to…

Tomorrow the Fed will announce that tapering has ended, closing the books on QE3 which began in late 2012. Therefore, the carefully scrutinized policy statement they release will change. However, it will still include the phrase “…maintain the current target…

The FY2014 federal budget deficit fell 29% to $483.35 billion or 2.8% of GDP, the lowest percentage since FY2007. Revenues rose 9% to $3.021 trillion, due to higher incomes and higher tax rates that went into effect 1/1/13. Outlays rose…

The Friday File: One of only three undefeated college football teams, what separates the #1 ranked Mississippi Bulldogs from other top programs is school spending on football totals just $15.3 million/year. Alabama spends the most; $41.6 million/year, with $11.8 million…

Should the Republicans regain the Senate (which seems likely), expect them to reverse the Democrats’ rule enabling confirmation of cabinet appointees and most judges from a simple majority back to a super majority of 60 votes. With a simple majority,…

The unemployment rate declines when an economy grows faster than its potential. This usually happens coming out of recessions when an economy makes up for economic growth that didn’t occur during the recession. The problem is, while the unemployment rate…

Last week, first-time claims for unemployment fell to their lowest level since May 2000 and population-adjusted, you have to go back to the week of May 17th 1969 to get a lower number! In addition, industrial production jumped one percent,…

While housing starts were up 6.3% in September compared to August, the increase was led by an 18.5% rise in multifamily and a 1.1% rise in single-family. YTD single-family starts are up just 4%; multifamily are up 23%! Single-family permits…

The Friday File: Economists studying marriage find that the more lavish the wedding the shorter the marriage. To be precise, the chances of getting divorced are 60% higher if the wedding cost more than $20,000 compared to less costly nuptials.…

The total value of wages is $7.2 trillion. If we add 2.3 million workers/year to payrolls, the current rate, each of which earns the average wage of $42,498, total wages rise by $98 billion. However, a 1.36% increase in real…