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In 2013, US CO2 emissions increased by 2.5%. Emissions are a function of four variables: population, GDP/person, energy intensity and CO2 intensity. Population growth boosted emissions by 0.7%, rising GDP/person boosted emissions by 1.5%, energy intensity surprisingly rose by 0.5% due to the Polar Vortex and CO2 intensity fell by just 0.3%, less than usual,…

The Friday File: The nearly completed One World Trade Center has the honor of being the priciest skyscraper ever built at $3.9 billion. The two buildings tied for second were each built for a paltry $1.9 billion. As for height, OWTC comes in third on the planet at 1,776 feet including the spire, but first…

While many fret that wage growth is miniscule despite the sizable decline in the unemployment rate, the concern is misplaced. Since 1990, the inflation rate has rarely risen unless the unemployment rate has fallen below 5.5%. With the unemployment rate currently at 5.8%, and at the rate it’s falling, wages may start to rise as…

While total non-farm payroll employment is now at 139.7 million, substantially above the pre-recession peak of 138.4 million, full-time non-farm payroll employment is at just 119.6 million, 2.0 million below its pre-recession high. As a result, the number of persons working part-time but wanting full-time work now stands at 7.0 million. And while that’s down…

Despite all the ads, hype and hoopla, November is only the 7th best shopping month of the year. December is far and away the best, with total spending 15% above the 10-year average monthly level. May is next at 4% above the average, followed closely by August at 3% above. February is worst month at…

At 458,000, October’s annualized new home sales were flat. In September they were 455,000 and in August a whopping 453,000. Worse, inventory actually inched up from 5.5 months to 5.6 months and actual sales in October were 37,000 up 1,000 from last October suggesting more construction activity isn’t warranted. Add to this decelerating growth in…

Abe Lincoln signed a Presidential Proclamation declaring Thanksgiving the last Thursday in November starting in 1863. After lobbying by the Retail Dry Goods Association, FDR proclaimed Thanksgiving to be next to last Thursday in November 1939/1940/1941 to lengthen the holiday shopping season. Eventually, a compromise was reached, and since 1942, Thanksgiving has been observed on…

With Q3 GDP growth just revised up to 3.9% and Q2 GDP growth at 4.6%, the last six months have been the best stretch of GDP growth in over a decade. But year-over-year growth is still just 2.4%, compensation growth was revised down to 3.5% from 4% in Q3 and from 5.3% to 2.8% in…

As China’s economy slows, many are overly complacent and point to $4 trillion in foreign reserves that can always be spent to cushion any downturn. The problem is repatriating those funds would mean selling US Dollars and buying Chinese Yuan. That would raise the value of the Yuan and hurt exports. The primary reason the…