Are we still energy dependent? I don’t think so! Since 2012, the U.S. has nearly doubled its oil output, making the U.S. a key global supplier. In fact, in October, the U.S. energy trade balance moved positive, indicating that the U.S. is now energy independent. Said another way, the U.S. is now exporting more energy
Consumers Stay Strong. Look, you could spin this data any way you like, but instead of getting bogged down in the day-to-day figures, we like to focus on fundamentals, and those fundamentals are very strong. Total retail sales are likely to be up 6%+ this year over last year. That’s very strong.
“Fading” Fiscal Stimulus; Really? Fed Chair Jerome Powell and others have started a new narrative about economic “headwinds.” They think past rate hikes, slower foreign growth, and “fading fiscal stimulus” should slow the Fed’s rate hikes. But is fiscal stimulus really fading?
Fake Economics. One of the greatest myths in all of economics is the “Government Spending Multiplier” sometimes called the “Fiscal Multiplier.”
My State is Bigger Than Your Country! Can you guess which foreign country has a similar GDP to the state that you live in?
The Plentiful Job Market. Rising wages appear to be drawing more workers back into the labor force, with the number of people either working or looking for work up 162,000 per month in the past year, even as the US continues to face the demographic headwind of an aging Baby Boom generation.