Whatever GERS reports today it’s important to remember it’s still CRAp – or a Completely Rubbish Approximation to the truth

Today is what is known as GERS day in Scotland. This means it is the day when the Government Expenditure and Revenue Scotland statement is published. This one will relate to the last financial year. It is important to remember that this data is now published by the Scottish government. It was not always. It began […]


Autumn breezes: 5 investing themes to consider

It may not feel like it yet, but fall is just around the corner. And just as the return of autumn offers the relief of cool breezy spells, but interspersed with late heat waves, so are the seesawing markets demonstrating a shifting environment. Rising geopolitical tensions and trade disputes and concerns they would contribute to […]


Wednesday: Existing Home Sales, FOMC Minutes, BLS Preliminary Benchmark Revision and More

Wednesday:• At 7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index. • At 10:00 AM: Existing Home Sales for July from the National Association of Realtors (NAR). The consensus is for 5.39 million SAAR, up from 5.27 million last month. Housing economist Tom Lawler expects the […]


“ATA Truck Tonnage Index Surged 6.6% in July”

CR Note: I’ve heard reports that trucking has been soft, but this index is solid. From the ATA: ATA Truck Tonnage Index Surged 6.6% in July American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index increased 6.6% in July after falling 1.2% in June. In July, the index equaled 122.7 (2015=100) compared with […]

Estate Planning

Will Medicaid Pay for a Family Caregiver?

Watching a parent, grandparent, or other older relative deteriorate physically and/or mentally can be heart-wrenching. The idea of putting your family member in a long-term care facility may not sit well with you; however, caring for them yourself may not be financially feasible. Will Medicaid pay for a family caregiver?  The Carmel Medicaid attorneys at […]


Retirement assets increase to $29 trillion plus

According to a report released by the Investment Company Institute (ICI), total US retirement assets reached $29.1 trillion as of March 31, 2019 — a 7.4% increase from December 2018. The study showed retirement assets accounted for one-third of all household financial assets in the US, with defined contribution (DC) plan assets reaching $8.2 trillion […]


Existing Home Sales: Lawler vs. the Consensus

The NAR is scheduled to release Existing Home Sales for July at 10:00 AM tomorrow (Wednesday, Aug 20th). The consensus is for 5.39 million SAAR, up from 5.27 million in June. Housing economist Tom Lawler estimates the NAR will report sales of 5.40 million SAAR and that inventory will be down 1.6% year-over-year. Based on […]


Glasgow: 29 August. A Green New Deal for Scotland

COMMONSPACE FORUM: A Green New Deal for Scotland, with Richard Murphy Thursday 29 August, 7.30pm, Glasgow, Kinning Park Complex, 43 Cornwall Street, G41 1BA FULL DETAILS AND TICKETS HERE Climate Emergency demands a rapid transformation in every aspect of our economy, from how we travel to how we heat our homes. The Green New Deal […]


Rewriting Johnson’s letter with regard to Scotland will make uncomfortable reading for him

This comment was in the letter from Boris Johnson to Donald Tusk relating to the Northern Ireland backstop, to which I have already referred: The backstop locks the UK, potentially indefinitely, into an international treaty which will bind us into a customs union and which applies large areas of single market legislation in Northern Ireland. […]


Tax reform of the day: abolishing the domicile rule

To continue my series on tax reforms that a progressive government should introduce to tackle inequality in  the UK, the next obvious action is this: Abolish the domicile rule Any government wanting to evidence its commitment to equality of taxation would have to start with abolishing the domicile rule. This rule, which still provides the […]