ECONOMICS

The U.S. is the second biggest exporter in the world, accounting for over 8% of global exports.

In this graphic by NeoMam Studios, Visual Capitalist's Bruno Venditti analyzes the primary product exported by each state, as well as its main destination, utilizing data from the U.S. International Trade Administration.

Canada: The Primary Destination

Canada serves as the largest export market for most of the Midwest, while Mexico holds the top spot as (more…)

Authored by Jeff Thomas via International Man,

Today, more than at any time previously, Westerners are justifying a move toward collectivist thinking with the phrase, “Capitalism has failed.”

In response to this, conservative thinkers offer a knee-jerk reaction that collectivism has also had a dismal record of performance. Neither group tends to gain any ground with the other group, but over time, the West is moving inexorably in the collectivist direction.

As I see (more…)

Authored by Mike Shedlock via mishtalk.com,

The BEA reports real income is down, but personal spending jumped anyway. Inflation data is mostly as expected, but much higher than the Fed would like to see.

Personal Income and Outlays, February 2024

Nothing about the BEA’s Personal Income and Outlays report for February 2024 suggests the Fed should cut interest rates at its next meeting.

• Personal income increased $66.5 billion (0.3 percent at a monthly rate) in (more…)