Paulitical Economy™

• The cigarette industry is seeing a slow but steady decline. And employment is falling.
  • Also in the number of employees.
• Check your eggs.
• Nike’s customers are under continued pressure.
  • As is Nike’s share price.
• The wisdom of crowds requires at least one very important condition.
• Financial Ructions:
  • Japan: Too many holes in the dyke?
  • The U.S. vs. the E.U. cage match.
  • The Bank of Canada worries about capit...

• More evidence that pizza sales are slowing with Domino’s just barely in positive territory in the U.S.
• Another look at wealth disparity in the U.S. and this time we focus on stocks and mutual funds.
  • As you might expect, the disparity is even worse here.
• A look at toys with two companies going in different directions.
  • As is their share price.
• No more brown M&M’s and a repost on the Mars company.
• Too m...

• After many quarters of negative U.S. sales growth, Yum! Brands decides to offload its Pizza Hut business.
  • But Taco Bell is still ringing in strong sales growth.
• The Starbucks turnaround plan seems to be working.
• A look at wealth disparity in the U.S.
  • And how the older generation has benefited from central bank policies
    • At the expense of the next generation.
• Lululemon’s North American Sales kick off th...

• Hybrid car sales are soaring. 
  • And the Japanese dominate the category.
• Macy’s and the K-Shaped economy. 
  • If you can’t beat em, join em.
• Kraft Heinz has had 17 straight quarters of volume decline. 
  • And so decide not to split the company in two.
• Core inflation for May in the U.S. was the highest since last September. 
  • And falling prices that are really rising.
• In Financi...

• In the U.K. the armed forces are being prescribed Wegovy, and Viagra.
• More on governments’ contributions to Canada’s housing affordability crisis.
• Dollar General continues to grow its sales with higher-income consumers trading down.
• UK Stacations.
• Brits morning drinking at airports
• A look at how much housing in the U.K. became unaffordable since 1997.
• Oil consumption is rising 
  • But its intensity in GDP is falling.
  ...

• Generic versions of weight-loss drugs are now on the market.
  • Costing less to lose more.
• Hormel is a U.S. food-processing company based in Minnesota.
  • Sales improved slightly but it’s all price: volume is still negative.
    • We take a look back at the maker of Spam.
• Sharks vs. Coconuts cage match.
• Lululemon makes some changes to its board of directors.
  • While its share price continues to struggle.
• Wei...

• The fallout from the Iran war in terms of rising energy prices may just be beginning.
• US gas prices are up 45% from last year.
• Canadians renewing their 5-year fixed rate mortgages in 2026 will see the biggest shock yet to their monthly payments.
• More Americans are moving from California and New York to Texas and Florida.
• Wendy’s same-store sales have declined in the U.S. for five straight quarters.
  • Its share price is back ...

• Father’s Day trumps Mother’s Day. 
  • Don’t shoot the messenger.
• Comparing Uber with Lyft. 
  • I’ve started using Lyft more often.
• Canada’s youth are suffering from bad government policy. 
  • While the country’s baby boomers benefit.
• A look at cash. 
  • Most people still carry it but unfortunately its relevance is declining. 
    • This is a really bad thing.
    ...

• Clorox continues to struggle to grow its top line. 
  • And its share price
• A look at real residential real estate price appreciation over the years in: 
  • Canada
  • U.S.A.
  • China
  • UK
• Costco sales are still soaring. 
  • And a look at the profit model.
• Whirlpool's sales and share price are tanking. 
  • Tariffs to the rescue. 
    • And a look back at 1992.
• The US jobs numbers for April were wea...

• Home Depot is still experiencing slow growth due to consumer uncertainty and normal interest rates.
• Spirit Airlines goes bankrupt.
  • No taxpayer rescue.
• Prices of Kimberly-Clark products are falling and volume is rising.
• There are many apologists out there for soaring home prices i.e. those who own houses.
  • But no, increasing home sizes do not justify higher home prices.
    • And home sizes have been falling over the last te...

• The rate of crime in the US has fallen significantly.
  • Homicide rate the lowest since the year 1900.
• Spirit Airlines has filed for bankruptcy protection: for the second time.
  • Government meddling is making a bad situation worse.
    • And a look back.
• UPS and Fedex are going in different directions in terms of their package volumes. 
  • It’s because of Amazon.
• The quality of life in Canada is improv...

• Lululemon has not grown comparable store sales in the US for almost two years. 
  • And we review a scathing attack from the company's founder.
• US home prices vs. income have increased over the last twenty-five years. 
  • This, despite much lower mortgage rates. 
    • Correction, because of much lower mortgage rates.
• Ski-Doo and Sea-Doo maker BRP has experienced strong sales growth of late. 
  • But...

• Sales at Dollar General are slowly accelerating. 
  • Even with discretionary items.
• But sales growth at Dollarama is ticking lower. 
  • And we take a look back.
• Retail sales and the Special K economy. 
  • The bottom 70% of income earners reduced their spending.
  • But that was more than offset by increased spending from the top 30%.
• Luxury furniture retailer RH has had impressive sales growth, albeit slow...

• The construction of multifamily properties in the US has soared over the last few years.
  • Resulting in higher vacancy rates and lower rents.
• European consumer products company Unilever got rid of its ice cream business last year.
  • Now they’re bidding adieu to the rest of their food business.
• US confectionery company Mondelez has been rapidly increasing its prices to offset higher commodity costs.
  • Volume has...

Hello everyone,

I hope you had a nice weekend.  Things are finally starting to warm up here in the Toronto area: it has been a long winter.  And now that we’re near the end of March the birds are making their way back north including the Toronto Blue Jays (as some of you know I’m a birdwatcher and baseball fan).

Four more of my podcast interviews are now available for your viewing enjoyment.

I was on a live radio...

• Homicides in the US are the lowest in 125 years.
• Canada’s economic decline has outpaced all other developed nations over the last ten years.
  • And so has our happiness.
• I have a feeling we’re not in Kansas anymore.
  • California has by far the highest gasoline prices in America.
    • And Kansas the lowest.
• Delta’s passenger revenue miles go negative.
  • And economy class revenue even more so.
  • And a l...

• Carnival Corporation is charging record prices.
  • And a look back.
• A look at what and who caused Canada’s housing affordability crisis.
  • And how housing affordability crises around the world have contributed to lowering the globe’s fertility rate.
• Construction of rental properties in Canada is soaring.
  • And rents are falling.
  • But construction of single-family detached homes has slowed.
    • And an increasi...

• An increasing number of homes listed for sale in Canada are vacant.
• A look at Canada’s poor record on economic growth.
  • And sadly, it’s primarily self-inflicted.
• In Financial Ructions:
  • More Canadians are starting new companies in the US than they are in Canada.
    • This is a significant change over the last ten years.
• Book Review
  • We continue our review of George Selgin’s great book False Daw...

• A Wall Street Journal article looks at how older Americans are significantly wealthier than the next generation.
  • Spoiler alert, it’s a result of bad policy.
• As cocoa bean prices soared, chocolate consumption fell.
  • Now it’s the bean prices that are falling and government imposed minimum prices are causing an inventory glut.
• Amazon sales continue to soar.
  • Especially in web services.
• Inflation in t...