Tag Archives: US EConomics

By Daniel Bergstresser Econofact Second of two commentaries on Government Debt. This commentary does mention tax policies since 2000 which reduced revenue. The latest passed in 2017 as advocated by trump and supported by Congress. It passed under Reconciliation. The failure to balance out the debt created by the tax reduction with revenue achieved through economic growth will force a repeal of it. Here, the author discusses the dreag on...

 – by New Deal democrat We finished housing data for the month with this morning’s report on new single family home sales and prices. As I usually point out, new home sales are the most leading of the housing construction metrics, but they are noisy and heavily revised.  That was true again in May. Sales (blue in the second graph below) declined -11.3% m/m to 619,000 annualized, after April was revised sharply higher by +64,000 to 698,000. As...

An abbreviated portion of Preston Mui’s “Where High Rates are Restricting Investment,” Employ America. This portion of his economic commentary discusses housing and in particular Multifamily. Preston Mui: The Federal Reserve has held rates at the current level for nearly a year. The majority of the committee appears confident that monetary policy is currently restrictive. From the perspective of their confidence, the question for monetary policy...

Discussing US Debt looked interesting enough to post on Angry Bear. I do not agree with the proposed fixes as I believe there are other fixes which would resolve the issues mentioned. Perhaps you have better ideas? Addressing Rising US Debt by Karen Dynan Econofact, The Issue: United States Federal debt rose sharply after the Great Recession. At 98% of gross domestic product (GDP) in 2023, it is close to its highest level ever....

 – by New Deal democrat This week’s data focuses on house prices and new home sales, and the more important personal income and spending report on Friday. In the housing data I am looking at any movement towards rebalancing between new and existing home sales. To recapitulate, the big increase in mortgage rates has locked up the existing home market, increasing the share of new houses as to total sales.  With existing homes, we saw inventory...

The International Foundation of Employee Benefit Plans found employers are projecting a 7 percent hike for health care costs in 2024. Aon projected the average costs for U.S. employers paying for their employees’ health care could increase 8.5 percent to more than $15,000 per employee in 2024. Voters remember the pain, not the gain by Merrill Goozner GoozNews Here’s another problem for President Biden’s reelection team. In in policy arena...

New Deal democrat at The Bonddad Blog takes a vacation day. On the road again . . .   Fortunately, there’s no significant economic news today, so a perfect day to play hooky. See you tomorrow. Tags: tomorrow

AB: I am not sure how Republicans will sugar coat Trump’s economic plans for 2025. June 23, 2024 Prof. Heather Cox Richardson Letters from an American On Thursday, Moody’s Analytics, which evaluates risk, performance, and financial modeling, compared the economic promises of President Joe Biden and presumptive Republican nominee Donald Trump. Authors Mark Zandi, Brendan LaCerda, and Justin Begley concluded that while a second Biden...

July 31, 1789, the U.S. Congress passed the last of three acts providing for administering customs tariffs and collecting duties. On the nation’s birthday, the Tariff Act of July 4, 1789, had been passed by Congress followed by the Duties on Tonnage statute on July 20. Mainly, they provided operating revenue for the government. From 1816 they were designed with the additional goal of protecting manufacturing enterprises from low-priced imports....

 – by New Deal democrat Existing home sales have very limited value in economic forecasting, since they are the trade of an existing product rather than indicating growth or contraction in the creation of a new product. Thus my main focus at present on this data is the extent to which it shows – or not – the rebalancing of the housing market.  That’s because, unlike existing homeowners, house builders can vary square footage, amenities, lot sizes,...