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Any final nuclear agreement between the P5+1 and Iran must, at minimum, limit Iran’s nuclear ambitions to those of a civilian nuclear program with comprehensive monitoring so that any nuclear “breakout” effort would be lengthy and quickly detected. Its heavy-water…
The combination of November exports reaching an all-time high of $194.9 billion, the trade deficit narrowing to just $34.25 billion, its lowest level since 10/09, November’s factory orders rising 1.8% and October’s factory orders upward revision of 0.4%, and strong…
With small investors still largely on the sidelines, bond prices continuing to slide as interest rates rise, the number of large corporate stock buybacks declining, gold prices falling and corporate earnings expected to improve, I expect a rise in the…
The Friday File: The biggest physical heist of 2013 involved one thief who stole $135 million in jewels in Cannes, France as they were being delivered to a hotel for display. The next biggest theft was an inside job where…
Despite little, if any, expected real wage growth in 2014, the jobs picture is likely to improve. This is because the percentage of new jobs in notoriously low paying sectors like retail trade, restaurants, temporary help and home healthcare should…
I want to take this opportunity to thank every one of you very much for your interest in my daily blog and economics. All of you enrich my life in many ways and I am profoundly grateful. I wish you…
Entering 2014, the biggest economic risks include China and its increasing dependence on debt to fuel slowing growth, followed by Europe which will struggle to keep the euro intact if a recession hits. But these problems are both remote. Here,…
The Friday File: Among the 10 songs with the most royalties, “The Christmas Song” (1944) at #10 with $19 million in royalties, “Santa Claus is Coming to Town” (1961) at #6 with $27 million and “White Christmas” (1940) at #2…
Average US Christmas spending in 2013 is expected to be $704 per person 18 years and older. More interesting is the wild variation in this number from year to year. After rising from a trough of $690 in 2003, spending…
In 2012, 24.5 million natural Christmas trees were purchased while 10.9 million manufactured trees were bought. The average price was $40.30 for a natural tree and $72.50 for plastic ones. Christmas tree sales hit a peak of 31.3 million natural…