Author / Hoosier Econ

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Posts by Hoosier Econ

Located out of Central Indiana. Blogger of economics, politics and societal trends.
by Hoosier Econ

Walking Dead Season Premiere Explodes in Numbers

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Last night AMC’s show “The Walking Dead” made its season return and did not disappoint in tv viewership numbers along with social media. Via TV By the Numbers:

The season five premiere of AMC’s “The Walking Dead” delivered the highest ratings in series history. The episode was watched by 17.3 million viewers and 11 million adults aged 18-49, increases of 7% and 6%, respectively, over the season four premiere, the previous record-holder. “The Walking Dead” continues to be the #1 show on television among adults 18-49. Last night’s episode outperformed everything else on television in this key demographic, including Sunday Night Football, by over 2.5 million adults 18-49. With time-shifted playback, the season five premiere should exceed 22 million viewers.

The season five premiere of “The Walking Dead” was the series’ most talked about episode ever, dominating social media activity for all of scripted television in 2014 as well as for the night. The premiere telecast garnered a total of 1,320,056 Tweets, making “The Walking Dead” the #1 new season drama premiere for 2014 in terms of Tweets and the #1 series premiere of 2014 in terms of Unique Authors. “The Walking Dead” is also one of the only shows in Twitter history to have had all 10 trending topics in the United States pertain to the show simultaneously. On Facebook, the day of premiere saw more than 7.7 million users driving more than 32.1 million interactions related to “The Walking Dead.” For the past four weeks, “The Walking Dead” has had the most engaged Facebook page of any television program, with 15 times the engagement of any other program on premiere day.

by Hoosier Econ

Michael Jackson Still Owes Taxes

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The King of Pop may be gone but his estate is still being hounded by the IRS. According to Forbes, they are going for more blood:

In a previously unreported court filing, the government says that IRS auditors originally thought the King of Pop owned only 50% of certain master recordings at his death in June 2009, when he really owned 100% of them. That 100% interest was worth $91 million by the IRS’ figuring, compared to the $11 million reported on the Jackson estate tax return.

The change brings the IRS’ valuation of Jackson’s estate and lifetime taxable gifts up to $1.178 billion, compared to the $7 million the estate reported. The IRS now wants a total of $525.6 million in tax and $205.1 million in gross valuation misstatement and negligence penalties. (Any interest owed will be on top of that.) Of course both the IRS and the estate’s values are best regarded as opening bids in what could be a long negotiation. A trial, if there is one, is far off.

by Hoosier Econ

$385 Steak Now in New York City

Empire Steak House Offer Kobe Beef

Empire Steak House, owned and operated by the Sinanaj brothers, announced it will offer the hardest-to-find steaks in United States – imported certified Japanese Kobe tenderloin and ribeye. A choice of an 8-ounce tenderloin or 10-12 ounce ribeye will be priced at $385 and $375, respectively.
Kobe beef is a cut of meat from a special breed of wagyu cattle, called Kuroge. It is the only beef with unsaturated fat, which is filled with Omega-3 and Omega-5. Fed with rice straw that fortifies the cow’s stomach, soy, wheat, beef, and other secret ingredients in Japan, these cows are 30 percent larger than U.S. cows before slaughtering at 30 to 34 months of age, rather than the typical 18 to 20 months of age in the U.S.

Read the rest here

by Hoosier Econ

Detroit: Land of the Wheelchair Ramps

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The Associated Press has come out with a story over Detroit going on a wheelchair ramp installation binge:

Along one half-mile stretch of crumbling sidewalks in Detroit, there are 52 new sets of wheelchair ramps. Some provide access to an empty lot where a middle school was razed in 2009. On many corners, sidewalks end after the ramps.

The ramps are being built as part of a decade-long effort to force Detroit into compliance with the Americans with Disabilities Act. But the efforts are facing criticism as the bankrupt city installs ramps in areas with little traffic while well-traveled areas, including some near downtown, still don’t have them.

This is a perfect example of the insanity that has gripped the nation in the past  decades from the “Regulation Industrial Complex”. I fully grasp the legality of the lawsuits but Detroit is a physical and financial mess. This is the furthest of things to do in order for the city to get going again. Of course this type of action comes with a price tag:

The city has spent $30 million over eight years to install 25,000 ramps, and officials estimate that $60 million more must be spent to build another 50,000

Here in a few years Detroit will be the world’s most compliant wheelchair ramp city. Hopefully the users who go there to enjoy them take their firearms when they end up the run down drug infested neighborhoods.

by Hoosier Econ

US Troops Fighting Ebola Getting $400 Extra Per Month

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Mark this story up as insane.
The President of the United States has gave the command to put US Troops in harms way combating Ebola in Liberia. A total of 4,000 will end up there. Here is what they will receive for their efforts via the Military Times:

U.S. troops deploying to West Africa for the Ebola mission could earn up to $400 a month in special pays, according to Defense Department officials. One would be hardship duty pay-location of $150 a month for those troops in Liberia and Sierra Leone. This entitlement is retroactive to the day of arrival after 30 days in theater. The second would be family separation allowance (for members with dependents) of $250 a month. This entitlement is retroactive to the day of arrival after 30 days in theater.

by Hoosier Econ

2014 Holiday Retail Sales Projected to be Higher

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Via bizjournal.com

Will 2014 be a jolly holiday for retailers?
The National Retail Federation says yes, projecting November and December U.S. retail sales to rise 4.1 percent, which would be the biggest increase in three years and would be above the 10-year average of 2.9 percent. The group is forecasting sales (not including autos, gas or restaurants) of $616.9 billion for the period this year.

by Hoosier Econ

United States Goverment YTD Interest on Debt Payments

The final 2014 fiscal year interest on debt payment was tallied.
September Interest on Debt payment $19,594,265,555.11
Fiscal YTD payments & total for 2014 $430,812,121,372.05
2014 total is $15 Billion higher then 2013 total and $70 Billion higher then 2012 interest on debt payments. 

by Hoosier Econ

Majority of $159 Billion of Owed IRS Taxes Will Go Unpaid

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JustFactsDaily.com released some new IRS data showing in 2013 there was $159 Billion in unpaid federal taxes. Here is what they found:

Per the IRS’s Fiscal Year 2013 Financial Statement, 78% of unpaid taxes that taxpayers have agreed they owe or courts have ruled they owe are “estimated to be uncollectible due primarily because of the economic situations of the taxpayers.”

by Hoosier Econ

Cost of One Tomahawk Cruise Missile

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In the past few weeks the United States military launched action against ISIS in the middle east. Part of the strategy in killing the Jihadist group was launching Tomahawk cruise missiles on them. The fully burdened cost of a new Tomahawk cruise missile is roughly $1.6 million.

by Hoosier Econ

Labor Force Participation Rate Drops Again

No matter what “great” numbers the federal government puts out about unemployment, one indicator clear thinking investors look at in the health of a nation is labor force participation. Graph is courtesy ZeroHedge.

While by now everyone should know the answer, for those curious why the US unemployment rate just slid once more to a meager 5.9%, the lowest print since the summer of 2008, the answer is the same one we have shown every month since 2010: the collapse in the labor force participation rate, which in September slide from an already three decade low 62.8% to 62.7% – the lowest in over 36 years, matching the February 1978 lows. And while according to the Household Survey, 232K people found jobs, what is more disturbing is that the people not in the labor force, rose to a new record high, increasing by 315,000 to 92.6 million!

participation rate sept 2014