It’s not just housing—the average transaction price of new vehicles sold in June hit a new stratospheric record high of $45,844, up 14% from a year ago. As automakers continue to struggle with shortages of key parts and semiconductors in particular, inventories remain near historic lows.
It turns out that Americans spend more on pharmaceuticals than any other country in the world—and not just more—a lot more. The OECD reported the average American spends $1376 per year on medications, while Sweden spends just $540.
For much of the last 14 months, the economic headlines have been all about inflation and the 40-year highs we have been consistently seeing now for many months. What’s now starting to be seen and shown by recent earnings reports and forward guidance from retail giants Walmart and Target, is that an inventory bullwhip effect is taking place that will have a deflationary impact on certain consumer goods.
After 27 years, Microsoft’s support for its once dominant internet browser ‘Internet Explorer’ (IE) has come to an end. At one point, IE’s market share was estimated to be as high as 90%.And while Microsoft has tried to push its current browser “Edge”, it’s had little success there as well—currently holding only about 4% of market share.
If you’re in the market for patio furniture, appliances, large electronics, or other expensive household items you might be in luck. Big retail’s loss might become your gain. America’s biggest retailers, Walmart and Target, have a new problem to go along with supply chain issues and a tight labor market—too much inventory.
The Biden administration is at once demanding that U.S. oil producers pump more in order to lower prices at the pump, while at the same time the administration is blasting U.S. refiners and producers for “gouging” and looking at punishing them with a “windfall tax”.