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Americans now Only Spend $1.98 on Wine For Every Dollar Spent on Beer (vs $3.00 in 2000)

September 21st, 2011 Michael McDonough Comments off

Prior to prohibition there were a large number of craft breweries in the U.S., during prohibition they all of course were forced to close.  In the years following the repeal of prohibition Americans acquired a taste for questionable quality macro-breweries (Bud, Pabst, Coors, etc).

About a decade or two ago the craft beer movement in the U.S. started a resurgence with the likes of Samuel Adams and Anchor Steam.  In fact over the last couple years the number of craft brewers in the U.S. has again reached the levels seen prior to prohibition.  According to the Brewers Association “1,753 breweries operated for some or all of 2010, the highest total since the late-1800s.”

So Americans are re-acquiring a taste for better, more expensive beer, which is why we are most likely seeing the amount of money spent on beer rising relative to wine.  I am in favor of this trend, and really enjoy the growing selection of high quality craft beers.

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Money Market Fund Crunch

July 29th, 2011 Michael McDonough Comments off

Investors are begining to flock away from low yielding money market funds as the U.S. debt ceiling impasse lingers on, reducing short-term liquidity.  Over the past two weeks investors have pulled out more than $62 billion from such funds echoing moves leading up to Lehman’s collapse where investors withdrew nearly $200 billion.  The loss of short-term liquidity may also act as a de-facto tightening for the U.S. economy, which has already begun showing signs of loosing steam moving into the second half.

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Bloomberg Briefs’ Global Central Bank Monitor

March 24th, 2011 Michael McDonough Comments off

To subsribe please go to {BRIEF <GO>} on your terminal , or visit www.bloomberg.com/brief

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Sign up for the Bloomberg Brief Economics Newsletter

November 11th, 2010 Michael McDonough Comments off

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The QE Trade Road Map From the Bloomberg Brief: Economics

November 3rd, 2010 Michael McDonough Comments off

When the Federal Reserve launched its unprecedented program of quantitative easing in early 2009, it was difficult to predict how various asset classes would react. Now, as the Fed considers a second round of asset purchases, the first program has left a blueprint of sorts behind that could be useful in predicting how markets might respond. The table here shows, as measured by R^2, how strongly the fluctuations in a variety of assets are correlated with the level of securities held by the Fed during the first six months of 2009. The table also displays the performance of these assets during the first half of 2009, as well as in the period since Fed Chairman Benjamin Bernanke’s Jackson Hole speech, where he laid out the case for additional quantitative easing.

To subscribe for free go to {BRIEF <GO>} on any Bloomberg terminal or if you don’t have a terminal go here to subscribe for a fee: www.bloomberg.com/brief

**This is an excerpt from the Brief published on 10/29/10**

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Future Updates

August 9th, 2010 Michael McDonough Comments off

I am now working as a full-time economist with Bloomberg LP, so I will only be able to make sparse updates to my personal blog.  The good news is you can still follow me on twitter where I will remain active:  http://twitter.com/M_McDonough

Thanks for reading!

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A Rare Divergence for GDP Forecasts Highlights Uncertainties

July 19th, 2010 Michael McDonough Comments off

Taking a random sampling of 2Q GDP forecasts for Bloomberg we can see the uncertainty facing the release schedule for 7/30.  Weaker than expected trade and and inventory data are the primary culprits behind the uncertainty, and I imagine more banks will revise down their forecasts as we move closer to the release.  Presently, I believe the market will be lucky to see the q/q annualized growth rate exceed 3.0%, and anticipate the release will come in closer to 2.7%.

Source: Bloomberg

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Categories: GDP, US Tags: ,

An Old Radio Piece

July 13th, 2010 Michael McDonough Comments off

An older piece I did on Bloomberg radio discussing the correlation between garbage and GDP.  I am more putting it up here, so I don’t lose track of the file…

Bloomberg radio 6-11-10

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More Seniors than Teens Now in the U.S. Labor Force

July 13th, 2010 Michael McDonough Comments off

**Story by Bloomberg’s Interactive Insight Desk…

U.S. employees old enough to retire are outnumbering their teenage counterparts for the first time since at least 1948 when Harry Truman was president, a sign of how generations are now having to compete for jobs.

Rest of the story and interactive graphics: http://www.bloomberg.com/insight/teens.html

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My Recent TV Hits

July 9th, 2010 Michael McDonough Comments off


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