How much is that Benjamin in your pocket really worth? If you live in New York or California, it may be a lot less than you think in relative value terms. But no surprise, your money is worth least in Washington D.C., where the relative value of $100 is a mere $84.67. Meanwhile, in Arkansas and Mississippi, your $100 gets stretched thanks to the low cost of living to $114.29 and $115.34 respectively. These numbers from The Tax Foundation are based BEA data. Alan Cole explains it here. Regional price differences are strikingly large; real purchasing power is 36 percent greater in Mississippi … [Read more...]
Archives for August 2016
Worthy Reads: “Jobs Data Nowhere As Strong As Headline”
OPEC Members Aim to Revive Talk of Output Freeze (WSJ) Amazon reveals its first Prime Air plane, promising speedier deliveries (MarketWatch) Ransomware hackers are targeting U.S. execs (Money) "Jobs Data Nowhere As Strong As Headline" (ZeroHedge) Trade Deficit Rises to 10-Month High in June (FoxBusiness) … [Read more...]
RAGE Gauge: Americans Unhappy
Throughout July, Americans signaled that they're feeling more risk. Gold prices pushed higher, people bought more guns, and most frighteningly, dissatisfaction with the country jumped from 69% to 82%. It's obvious the current political campaign is having an effect on people's moods, and rightly so. No matter who you're voting for, no one can deny this has been one of the most divisive, scandal filled, and partisan elections in memory. The RAGE Gauge remains at High Risk. But politics isn't the only thing creating risk. Deutsche Bank reported recently that the U.S. has a 60% chance of … [Read more...]
Worthy Reads: Apple Gets the Go-Ahead to Sell Power
BOE Moves Expose Risks of Aggressive Monetary Policy (WSJ) Sling TV Streaming Service To Add NFL Network (WSJ) Apple Gets the Go-Ahead to Sell Power (Bloomberg) This breakthrough in ‘blue energy’ could change the world (MarketWatch) U.S. internet speeds just hit a milestone (Money) … [Read more...]
Bob Lutz on the Auto Industry
I saw this interview with Bob Lutz in the September 2016 issue of Car and Driver. C/D: Because automakers eat so much capital, will we eventually see only four or five remaining? BL: It's likely. With autonomous cars, you're gonna see more consolidation. Once we have transport modules, you order off the phone and brands won't matter anymore. When brands don't matter, the auto industry ends. It's got another 20 years. Bob Lutz On Where The Auto Industry is Headed … [Read more...]
What are Auto Sales Telling the Market?
U.S. auto sales continue to fall. Historically, peaks in sales have come near the middle of the business cycle. Sales sit well below this cycle's peak today. … [Read more...]
Worthy Reads: Goldman Sachs Fined $36 Million
Goldman Sachs Fined $36 Million by Fed Over Leaked Documents (Bloomberg) The Case for an Independent Fiscal Institution in Japan (IMF) Auto Makers, Regulators Spar on Fuel Economy (WSJ) Most Millennials Don’t See Becoming Millionaires, Study Finds (WSJ) Where First-Time Homebuyers Can Go Big (Bloomberg) … [Read more...]
The Trouble at DoubleLine Was Predictable
Fortune breaks the bad news to readers that Jeffrey Gundlach's DoubLine Total Return Bond Fund is having its worst year ever. Jeff Wieczner writes: DoubleLine CEO Jeffrey Gundlach’s flagship DoubleLine Total Return Bond Fund (DBLTX) is having its longest streak of underperformance on record, lagging most of its peers as well as the Barclays Aggregate Bond Index. After ranking second among comparable funds in 2015, the $61 billion fund now ranks in the bottom 7% so far in 2016, according to fund research firm Morningstar. The poor returns come after years of stellar returns for Gundlach, … [Read more...]
Worthy Reads: Japan launches $45bn stimulus package
July Auto Sales Stoke Fears of Market Plateau (WSJ) China Inc. Has $1 Trillion in Cash That It’s Too Scared to Spend (Bloomberg) Chip Card Nightmares? Help Is on the Way (WSJ) Here’s why forgiving student debt isn’t so simple (MarketWatch) Japan launches $45bn stimulus package (WSJ) … [Read more...]
Worthy Reads: Factories struggle as world demand sputters
Fed’s Dudley Won’t Rule Out an Interest-Rate Increase This Year (WSJ) Growing Oil Glut Shows Investors There’s Nowhere to Go But Down (Bloomberg) Earnings may be signaling a ‘sell the house, sell the car, sell the kids’–type bear market (MarketWatch) Factories struggle as world demand sputters (Reuters) 'Game of Thrones' to end after season 8 (Money) … [Read more...]
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