Posts Tagged ‘graphsandlaughs and eisenberg’
Walking Dead
In 1980, a record 8,070 pedestrians were killed crossing streets. By 2009, the number hit an all-time low of 4,109. Since then it has been rising, to 4,280 in 2010 and 4,432 in 2011. Pedestrians account for 14% of traffic fatalities, and 70% of all pedestrians killed are men. Florida has the highest rate of…
Read MoreEconomic Do-Over
The 14th comprehensive benchmark revision to all GDP accounts from 1929 forward will be released later this week. The revisions will probably show faster recent GDP growth bringing it line with improved employment numbers in 2012, higher labor productivity growth, higher household savings rates and higher personal incomes. In short, households will be found to…
Read MoreFinance Failure
While the House and Senate work on competing bills to fix our broken housing finance system, where 91.2% of new mortgages are government backed, reform is years away. A Congress that can’t pass a budget, an immigration bill, or an Agriculture bill, and that is hurtling towards yet another ruinous debt ceiling fight, certainly doesn’t…
Read MoreDisappointing Data
Given a widening trade deficit, disappointing retail sales, weak inventory accumulation and now yesterday’s surprisingly bad housing starts at just 836,000 units, I’m reducing my Q2 GDP estimate to just 1%. Interestingly, single-family starts, 2-4 unit starts, and 5+ starts have all lost ground and are each at their lowest level since 8/12. Second half…
Read MoreBank on China
The recent Chinese cash crunch was a sign from the government of its intention to reign in credit growth to the shadow banking system, wasteful local governments and speculators. Part of the problem is that Chinese banks can’t offer competitive interest rates to savers. As such, savers seek riskier, speculative investments. Something else the government…
Read MoreWhat’s Your Name?
The Friday File: In 2012, the three most popular girls’ names in descending order were Sophia, Emma and Isabella. For boys, it was Jacob, Mason and Ethan. In 2012, the girl’s name most rapidly rising in popularity was Arya; for boys it was Major. Since 1913, the most popular girls’ names have been Mary, used…
Read MoreEmerging Volatility
As the Fed flooded the US economy with cash, some of it ended up in emerging markets where risks and returns are higher than here. With US rates now rising, financial markets in those countries are being badly hit. Simultaneously and unrelated to the exodus of hot-money described above, some of these same economies like…
Read MorePump it Up
Despite a US Energy Information Administration report that global oil reserves are 10% higher than in 2011, due to the discovery of 345 billion barrels of shale oil, don’t expect lower pump prices. This is because unlike Alaskan oil, shale oil comes from hundreds of small wells, with high production costs. If prices fall, pumping…
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