Posts Tagged ‘Elliot eisenberg’
Driving Sales
Last week automakers reported sales of 15.3 million, up from a low of 9.0 million in February 2009. The rise is due in part to ultra-low interest rates, but also to both a rapidly aging fleet and longer loan terms. The average age of a car is now 11.2 years, up from 8.4 in 1995,…
Read MoreSouring Cyprus
The recent $13 billion bailout (60% of GDP) made by the IMF, ECB, and European Commission to Cyprus does not solve problems, it just delays them. With a post bailout debt-to-GDP burden of 140%, an economy that will shrink 20% over the next two years, the gutting of its huge financial sector, and a promise…
Read MoreLess Work
US employment peaked in 1/08 at 138.1 million. Employment then fell to a low of 129.3 million in 2/10, a loss of 8.8 million jobs. Today 46 months after the end of the recession, employment is 135.2 million, 2.9 million below the high. Assuming an optimistic 200,000 new jobs per month, a new employment high…
Read MoreBad Booze
The Friday File: Due to skyrocketing demand and fixed supply of bourbon, rather than raising the price, the distiller of Maker’s Mark is reducing its alcoholic content by 7%! While most customers won’t notice, those that do will buy better bourbon like Knob Creek and Booker’s from the same distillery. Boosting the price of Maker’s…
Read MoreMarch For Jobs
March employment numbers come out tomorrow and they will disappoint. ADP reported weak private sector job growth numbers yesterday, first time unemployment claims that came out this morning and were on the high end and sequestration will probably knock off 5,000 to 15,000 jobs. Moreover, both the manufacturing and non-manufacturing sectors while still growing are…
Read MoreWeek is Strong
Personal income rose 1.1%, consumer spending jumped a robust 0.7%, the Fed’s preferred inflation gauge rose just 1.3% over the past year, consumer confidence increased, GDP for Q4 was revised up by 0.3% and house prices rose 8% year-on-year! But, unemployment claims were a bit higher, house sales fell a tad and savings remains painfully…
Read MoreHappy April Fool’s Day!
In an effort to lessen the impact of the sequester on federal spending, the Interior Department will be selling corporate sponsorships to national parks. The first trial sponsorships include the Marlboro Great Smokey Mountain National Park in TN, the Skippy George Washington Carver National Monument in MO, the Delta Airlines Tuskegee Airman National Historic Site…
Read MorePunching Ahead
The Friday File: In an attempt to reduce concussions, the International Boxing Association will prohibit the wearing of headgear in competition! Absent helmets, it’s hoped boxers will refrain from using their heads as weapons, will have improved peripheral vision, and will not hit as hard as they will be unprotected when counterattacked. Remember, helmets offer…
Read MoreGay Gains
Recognizing gay marriage would reduce, yes reduce, federal spending by about $500 million/year. While that’s just two-hundredths-of-one-percent of annual federal spending, it helps. Spending will fall because generally fewer married couples qualify for (means-tested) entitlements such as welfare, Medicaid, Medicare, and SSI. Moreover, added revenue from the “marriage penalty” more than offsets all increases in…
Read MoreBuilder Sediment
Home builder sentiment recently fell for the second straight month despite a booming housing sector. This is probably because small builders face increasing difficulty finding lots, spec loans are still largely off limits, lumber prices have doubled, and labor shortages abound. Despite these woes, housing starts will rise by 200,000 units in 2013. The question…
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