Jim Bianco: Next Year 20% of Bank Profits Could Come Directly from the Fed
“If we get two more rate hikes this year, as everybody expects, next year nearly 20% of bank profits will be interest on excess reserves paid by the Federal Reserve”
The Difference Between Native and Foreign Born Employment Rates Across the Developed World
The employment rate among foreign born residents is lower across much of Western Europe and over 10% lower in the Netherlands, Sweden, Denmark, and Finland
El Erian: We Are Changing Paradigms, Divergence Is the New Normal
“Too many people fell in love with liquidity forever and synchronized growth forever”
Map of the Day: Every Year of the Spanish Reconquista
Many consider the Reconquista to be the longest continuous war in human history
Map of the Day: Putting Russia’s Economy in Perspective
Russia’s 2018 GDP is estimated at $1.7 trillion, slightly less than the combined GDP’s of Belgium ($562 billion), the Netherlands ($945 billion), and Denmark ($369 billion)
Map of the Day: The Unemployment Rate in Every County of the US
46% of unemployed Americans who are actively seeking work live in counties where the unemployment rate is at least 7.5%
The World’s Most Populous Countries from 1950 to 2060
Russia, Japan, Germany, the UK, Italy, and France are falling off the list of most populous countries and being replaced by Nigeria, Pakistan, Congo, Ethiopia, Tanzania, and Mexico.
Nearly All the US’s Largest Trading Partners Impose Higher Tariffs on US Goods than Vice Versa
Canada, Mexico, China, Japan, South Korea, Brazil, India, and Thailand all impose higher tariffs on imports from the US than the US imposes on imports from them
Map of the Day: The Unemployment Rate in Every State in the US
The state with the lowest unemployment rate in the US is Hawaii at just 2.1%
Peter Fisher: Flat Yield Curve Doesn’t Forecast Recession, It Causes Recession
Many, including the Fed, are now arguing that the metric is no longer important, just as it threatens to invert once again