Forty-six states face budget shortfalls of $112 billion for the fiscal year ending next June. While there are political difficulties in closing these gaps there are also constitutional mandates for doing so. If and when […]
Read moreWe participate in the monthly Macro Markets’ survey of the Case-Shiller housing price index and the June results are online as of today, see the press release link here. The consensus projection is slightly more […]
Read moreA brief update of a blog of about a month ago regarding banking: The FDIC reports that 83 banks have been closed so far this year. While there were 140 bank failures in 2009, we […]
Read moreThe quality of political debate is really amazing. I’m being called a right-wing extremist because a study we did for the California Manufacturers and Technology Association does not fit the “environmentalist” view. It was just […]
Read moreThe commerce department reported today that United States housing starts fell from 659 thousand to 593 thousand from April to May. This was the largest drop in starts since 1991. As well, building permits, which […]
Read moreLast year, Oregon citizens approved large increases on business and consumer income. Now their problem is worse. The Oregon Business Report has a piece today by Patrick Emerson: The Office of Economic Analysis blog has […]
Read moreUnited States’ May Retail Sales were $362.5 billion, down 1.2 percent from April. The decline was broad based. Motor vehicles, building materials, gasoline, clothing, and general merchandise all fell significantly. Furniture/home furnishings, electronics/appliances, food, health/personal, […]
Read moreThe net wealth of United States households and non-profit institutions rose a bit in the first quarter of 2010, the Federal Reserve reported today. This data release shows that net wealth (assets minus liabilities) increased […]
Read moreYesterday I argued that student loans should be dischargable in bankruptcy. Given that they are not dischargable, an economist would expect to see insurance available, insurance that would pay the loan if students were incapable […]
Read moreNot allowing student loans to be discharged in bankruptcy under any conditions is simply barbaric, just one step away from debtors prisons.
Read moreCalifornia Trade data continue to reveal a strengthening that initially occurred late last year. First quarter container loadings, inbound plus outbound at Los Angeles and Long Beach Ports, were up 14.6 percent from the prior […]
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