Recent Articles from Contributing Writer
A soft landing is in sight
The employment report for October confirmed that the monthly gains in employment continue to slow gradually. The 150,000 increase in employment was held down by the loss of 33,000 workers in the automobile industry caused by the strike.
Group behind Husk to open new downtown Charleston restaurant
Those that brought us Husk, Minero, The James and the Delaney Oyster House are now ushering in a new restaurant slated to open in February. According to David Howard, founder of The Neighborhood Dining Group (NDG), Marbled & Fin will open at 480 E. Bay St. in Charleston, which, for 60 years operated as a […]
The budget deficit why it matters
The budget deficit for fiscal 2023 was $1.7 trillion. Nobody cared. Projected budget deficits for the next 10 years never get smaller and within five years are expected to exceed $2.5 trillion. As a result, the Treasury will add $20 trillion to outstanding debt in the next decade. The budget deficit for fiscal 2023 was […]
Consumer confidence dips to Great Recession level
Consumer sentiment today is far below the pandemic-induced recession level of 2020 and roughly where it was at the low-point of the 2008-09 so-called Great Recession — the longest and deepest recession since the depression in the 1930s. Typically, the Fed looks at the year-over-year increase in the CPI. It has slowed from 9.0% in […]
Why aren’t stock investors nervous?
The economic situation is complicated enough with the resumption of payments on student loans, the ongoing UAW strike, and a dysfunctional Congress with the prospect of a government shutdown looming. But the outbreak of war in the Middle East trumps everything else in terms of importance. The war has dominated television news, the print media […]
How this Charleston startup uses tech to track cargo across the globe
As COVID-19 brought the global supply chain into focus with myriad disruptions, it became clear the lack of visibility in overseas shipments needed to be addressed. It also marked a turning point in the future of logistics, as it was clear new tools and technology would be necessary to avoid similar problems in the future. […]
Economy remains solid – for now
With a surprisingly large 336,000 increase in payroll employment for September, one can make a plausible case that the Fed will boost the funds rate by 0.25% to 5.75% at the end of this month. We disagree. We are looking for no change in the funds rate at this meeting. While the level of interest […]
Restaurant, entertainment venue opens in downtown Charleston
When Michelle Van Jura moved from New York to Charleston a decade ago, she was shocked by the lack of entertainment options. “I was so used to having the opportunity to visit a variety of nightlife venues, like comedy clubs and so forth, that it took me by surprise,” said Habit owner and partner, who, […]
Near-term economic environment weakens
At its most recent meeting the Federal Reserve left the funds rate unchanged at 5.5%. While the Fed may not have raised the funds rate, the bond market significantly raised every other interest rate across the entire maturity spectrum. In addition to Fed action, it depends on how quickly the inflation rate subsides. Prior to the Fed’s […]
West Ashley couple’s new sodary capitalizes on mocktail trend
Danielle and Brent Sweatman understand the complicated relationship between sobriety and the food and beverage space. The couple, who have worked in the industry for years, are two years sober. “We knew how it feels to be uncomfortable with limited options and wanted to change that,” said Danielle, who with her husband Brent, opened Sweatman’s […]
How an injury turned a dentist into independent bookstore owner
When one door closes, another one opens. At least that’s the saying upon which friends generally rely to comfort one another when jobs or opportunities are lost. For one couple that familiar saying ended up being an accurate prediction when Our Next Chapter opened on Sept. 1 at 326 Main St. in Conway. Bob Martire […]
Economist: The budget problem is now
The budget problem has arrived. Budget deficits are averaging $2 trillion which means that the government must issue an equivalent amount of debt every year to pay its bills. As a result, debt in relation to GDP is expected to climb to 119% by 2033. Make no mistake the deficit problem is not a shortfall […]