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From Strategypage.com: An F-22 Raptor piloted by Maj. Paul Lopez performs a single-ship demonstration at the 2018 Power in the Pines Open House and Air Show rehearsal held at Joint Base McGuire-Dix-Lakehurst, N.J., May 4, 2018. The F-22 Demo Team is based out of Joint Base Langley-Eustis, Va. (U.S. Air National Guard photo by Master Sgt. Matt Hecht)
And it’s going to be the most expensive in years. US Gas Prices have moved up to $2.91 (national average), highest level since early 2015.
How do domestic gas prices stack up? Not so bad actually:
Venezuela: $0.03
Saudi Arabia: $2.06
Russia: $2.64
US: $2.91
Mexico: $3.82
Australia: $4.13
Brazil: $4.35
India: $4.37
Canada: $4.49
China: $4.50
Japan: $4.91
South Korea: $5.50
Spain: $5.83
UK: $6.41
Germany: $6.42
France: $6.89
Italy: $7.11
Hong Kong: $7.93
Hat tip Charlie Bilello
The only constants in investing are generalities, probabilities, rules of thumb:
Great check list from Charlie Bilello
The lede: The federal government took in a record tax haul in April en route to its biggest-ever monthly budget surplus, the Congressional Budget Office said, as a surging economy left Americans with more money in their paychecks — and thus more to pay to Uncle Sam.
More: All told the government collected $515 billion and spent $297 billion, for a total monthly surplus of $218 billion. That swamped the previous monthly record of $190 billion, set in 2001.
CBO analysts were surprised by the surplus, which was some $40 billion more than they’d guessed at less than a month ago.
Analysts said they’ll have a better idea of what’s behind the surge as more information rolls in, but for now said it looks like individual taxpayers are paying more because they have higher incomes.
Read the whole thing: www.washingtontimes.com
As measured by The Consensus Inc bulls are now at 57%, the lowest level since the November 2016 election:
As contrarians, this is certainly good news.
Hat tip Helene Meisler/RealMoneyPro.com
From strategypage.com: PACIFIC OCEAN (April 25, 2018) An F/A-18F Super Hornet assigned to the Mighty Shrikes of Strike Fighter Attack Squadron (VFA) 94 flies above the aircraft carrier USS Theodore Roosevelt (CVN 71). Theodore Roosevelt is underway for a scheduled deployment in the western Pacific. (U.S. Navy photo by Mass Communication Specialist Seaman Michael Colemanberry)
Voting with their feet. The middle class is fleeing America’s blue states and no state is losing people as fast as California is. The lede: The cost of popular moving truck services, like U-Haul, is largely created through the ironclad rules of supply and demand. Turns out, there is much higher demand for trucks leaving high-tax blue states heading to low-tax red states than vice versa.
From the CNSNews.com: The Congressional Budget Office’s budget and economic outlook released this month projects that real Gross Domestic Product will grow by 3.3 percent from the fourth quarter of 2017 to the fourth quarter of 2018. That would mark a 15-year high.
“In CBO’s projections, real GDP expands by 3.3 percent this year and by 2.4 percent in 2019,” says the CBO report. “It grew by 2.6 percent last year.”
The last time real GDP grew by more than 3.3 percent from the fourth quarter of one year to the fourth quarter of the next was in 2003, when it grew by 4.4 percent, according to the historical data published by the Bureau of Economic Analysis.
Rollbacks matter…
Read the whole thing: www.cnsnews.com
