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The Ukrainians want to economically escape from Russia and without controlling Ukraine, Russia is no empire. Thus keeping Ukraine from Russia must be a strategic western objective. Making it easy, Ukrainian finances are a shambles and a balance-of-payments crisis will…
Read MoreThe recent budget deal which reduces fiscal drag, along with improving employment numbers, the likelihood of faster growth in 2014 and the fact that long-term rates have adjusted to the idea that tapering will soon start, makes me peg the…
Read MoreThe budget deal Senator Murray (D-WA) and Representative Ryan (R-WI) have crafted will reduce sequestration effects by 37% and allow agencies to determine how to implement the remaining 63%. The new policies are evenly split between fees and spending cuts…
Read MoreWith GDP growth at 2% for the past several years and expected through Q1/14, the recent employment rise from about 150,000 net new jobs/month in summer to about 200,000/month since seems odd. It’s because firms are finally hiring because labor…
Read MoreWhile Q3 GDP was revised up from 2.8% to 3.6%, hold the applause. Inventory growth was raised by 0.85%, essentially responsible for the entire increase. Worse, household spending was revised down from a growth rate of 1.5% to 1.4%, and…
Read MoreBy combining reliability, anonymity, file-sharing technology and peer-to-peer consensus to confirm transactions, Bitcoin is an amazing technology that fulfills a market need. I fully expect other copycat institutions with deeper pockets and more credibility to eventually follow. While Bitcoin has…
Read MoreA large chunk of the credit for our improving economy belongs to multifamily construction. Since hitting a trough of 111,000 multifamily permits in October 2009, multifamily activity has quickly recovered. This past October there were 418,000 multifamily permits pulled, an…
Read MoreWhen the Dow Jones Industrial Average hits 16,220, it will hit a new inflation-adjusted all-time high. While the Dow is up 37% since its tech bubble high of 11,722.98 of 1/14/00, the CPI is up 38%. Of course, back in…
Read MoreWhile the cost of Thanksgiving dinner has increased by 12.81% since 2010, excluding the turkey the cost has risen by just 5.7% because the cost of the bird alone has risen by 23% and it represents almost half of the…
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