Over My Shoulder | Mauldin Economics

Over My Shoulder

Louis Gave: “What Does the Italian Elite Want?”

October 17, 2016

Louis Gave shares a perspective on a topic I have been pointing to for some time, that of the coming Italian referendum. Italy may be a very shaky 4th leg of the main European stool (Germany, France, Italy, and Spain). There is a very real potential for the "no" vote to win the referendum, which would eventually force Italy to reject European agreements on banks; and then that sets off a cascade of rejection. At what point does enough become too much?
We really do have to pay attention to Italy.

Download - What_Does_The_Italian_Elite_Want.pdf

Philippa Dunne: “Where is the sales revenue, and the income?”

October 13, 2016

Philippa Dunne sent me the latest Liscio Report, and I got her permission to send it to you. I don’t ask very often as this is a pricey letter and that is their business. In this issue she notes the changes in sales tax revenue and has a powerful chart showing that the growth in sales tax revenue has been trending down for the last several years. Not what you want to see in a consumer economy. And she offers an interesting reason for the falloff...
Which makes one wonder, will tax authorities seek to extend the sales tax bite?

Download - TLR_10_13_16.pdf

John Burns: “Is My Uber Driver Holding Back the Housing Market?”

October 11, 2016

This is a must-read from my friend John Burns. I just bought his book Big Shifts Ahead and put it on my Kindle. I have known John a long time and I have no reason to doubt his facts – they square with other things I have read. He is just looking at it from the housing industry standpoint, but there is a huge differential in total welfare benefits available to those who are single rather than married. That might help us understand why there has been an explosion in the number of single women: It makes no financial sense to get married, and we have created perverse incentives against marriage in this country. A short read but eye-opening.

Download - 161011_Burns.pdf