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Let’s delve into a case in point of Coase’s theorem: If you wanted to peddle the narrative that government spending is out of control, you might present a chart like the one above, which is an exact replica of a chart that appeared recently in a piece of research from a major Wall St. investment firm. How can this be?
But the more likely outcome, if present trends continue, is a party system so fractured that forming a coherent and stable government becomes nearly impossible. From out of the resulting chaos, it could become impossible to prevent one of the radical anti-system parties, including the AfD, from joining a governing coalition.
Refinance activity was at its fastest pace since October 2024, as conventional refinance applications rose 34 percent and government refinance applications increased by 42 percent over the week. The move in government refinances was driven by a 75 percent increase in VA loans, which have been prone to large changes in recent months.
When the Social Security Fairness Act was signed into law on January 5, 2025, it came as a relief to many recipients of state or local government pensions whose Social Security benefits had been, up until now, reduced by the Windfall Elimination Provision (WEP) for individuals claiming retirement benefits under their own name, or the Government Pension (..)
The increase in real GDP in the fourth quarter primarily reflected increases in consumer spending and government spending that were partly offset by a decrease in investment. Imports, which are a subtraction in the calculation of GDP, decreased. Real GDP was revised up by less than 0.1
Government purchase applications experienced an 11 percent increase helped by the FHA rate dropping to 6.34 As a result, applications increased over the week and were up 31 percent from a year ago, said Joel Kan, MBAs Vice President and Deputy Chief Economist.
Employment continued to trend up in health care and government. From the BLS: Employment Situation Total nonfarm payroll employment was essentially unchanged in October (+12,000), and the unemployment rate was unchanged at 4.1 percent , the U.S. Bureau of Labor Statistics reported today. Temporary help services lost jobs.
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The increase in real GDP primarily reflected increases in consumer spending, exports, and federal government spending. The increase in federal government spending was led by defense spending. These movements were partly offset by accelerations in exports, consumer spending, and federal government spending. Imports accelerated.
A well-crafted operating agreement begins with defining the firm's governance structure. Ensuring that governance, compensation, and growth strategies align with the firm's goals lays a strong foundation for long-term success.
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In particular, a number of Floridas markets, including Cape Coral, Sarasota, Lakeland and Tampa have experienced weakening prices over the past year , which led to Floridas average equity declining by about $18,000 at the end of 2024.
The decrease in real GDP reflected decreases in private inventory investment, residential fixed investment, federal government spending, state and local government spending, and nonresidential fixed investment that were partly offset by increases in exports and personal consumption expenditures (PCE).
For loans to households, banks reported that lending standards tightened across all categories of residential real estate (RRE) loans other than government-sponsored enterprise (GSE)-eligible and government residential mortgages, which remained basically unchanged. Meanwhile, demand weakened for all RRE loan categories.
In this episode, we talk in-depth about how Pete frames the differences between socially responsible investing (which is focused on excluding certain industries or companies from portfolios), ESG investing (which measures the risk to companies from environmental, social, and governance factors), and Pete's sustainable investing approach (which he views (..)
Prior to this role at BCG, Philipp advised financial institutions and governments at the Organization for Economic Co-operation and Development (OECD) as well as McKinsey & Company. This week, I speak with Philipp Carlsson , Global Chief Economist for Boston Consulting Group. He was also Chief Economist at Stanford C.
Furthermore, the performance of government post-forbearance workouts also weakened.” Added Walsh, “With many indicators pointing to a recession and higher unemployment in 2023, many of the most vulnerable homeowners will be those with FHA, VA, or other government loans. emphasis added Click on graph for larger image.
The Pacific Legal Foundation, which has a record for arguing against “government overreach” before the Supreme Court, is representing Frank Black in the latest case challenging FINRA's Constitutionality.
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This report is for private payrolls only (no government). Wednesday: At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the mortgage purchase applications index. At 8:15 AM, The ADP Employment Report for February. The consensus is for 140,000 payroll jobs added in February, down from 183,000 added in January.
The government seeks to suspend pending litigation surrounding the fiduciary rule, to allow the Labor Department to decide how to proceed under the new administration.
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Japan’s government pension fund is investing $1 billion in funds managed by Brookfield and Blackstone, reported Bisnow. Private investors have been increasingly focusing on retail real estate in recent months, according to JLL. These are among today’s must reads from around the commercial real estate industry.
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The average loan size for a purchase loan has increased since the start of the year and continued that trend last week with weaker government purchase activity, which reached $447,300, the highest level since October 2024.. Added Kan, Purchase activity had a tougher week, with declines across all loan types. percent from 7.02
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The return to growth was aided by rising inventory, increased retail incentives and lower interest rates, while pull-ahead volume of electric vehicles from expectations of cuts in government incentives could have played a part.
In the wake of natural disasters and slowing in the labor market, borrowers with government loans tend to be impacted more than conventional borrowers. Added Walsh, There is some weakening in performance of servicing portfolios and loan workouts compared to one year ago.
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The updated estimates primarily reflected upward revisions to exports and consumer spending that were partly offset by downward revisions to nonresidential fixed investment and federal government spending. Imports, which are a subtraction in the calculation of GDP, were revised down (refer to "Updates to GDP").
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This report is for private payrolls only (no government). Wednesday: • At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index. • At 8:15 AM, The ADP Employment Report for November. The consensus is for 166,000 jobs added, down from 233,000 in October. • down from 56.0. •
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