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And in return, we’ll keep pointing out the absurdities in politics, finance, and the economy. After all, as John P. wrote us this week:
Making fun of things is part of Americana. Part of our history. I live in a very liberal part of the U.S., Oregon. It’s nice to hear from sane thinking people.
Now here’s some of the latest headlines we’re reading…
Don’t feel too sorry for federal workers sitting at home…
Considering that a year is 52 weeks long, an average federal worker would need to be completely without any income for nearly nine weeks in order to just be reduced to equal standing with a similar private sector worker…
All debt must eventually be paid. And today, the bills are coming due…
Whatever happens next to economic growth and interest rates, borrowing will likely get more expensive for risky companies. If growth is firm, rates will rise further and existing loans will cost more to service; but if growth slows, earnings will slow, too, and debt burdens will remain larger for longer.
The simplest explanation is that we are late in the business cycle, when economically sensitive banks perform poorly. It cannot be quite so simple, though.
These should be boom times for Detroit. Unemployment is at a half-century low, gasoline is cheap and auto sales in the U.S. were near record levels last year. Yet American automakers are closing factories, cutting shifts and laying off thousands of workers.
Have you checked your local diner’s menu lately?
The gap between how much it costs to eat out instead of grocery shopping “has continued to widen pretty aggressively.”
Be careful taking the “slather on sunscreen” advice:
Over the 20 years of the study, sun avoiders were twice as likely to die as sun worshippers. There are not many daily lifestyle choices that double your risk of dying.
And let us know what you’re reading at [email protected].
Publisher, American Consequences
With P.J. O’Rourke and the Editorial Staff
January 16, 2019