Pat Quinn 2014 State of the State: We Made a Comeback, Jobs are Being Created, Companies are Moving Here

In listening to Gov. Pat Quinn give the 2014 State of the State address today, it is clear he is as delusional as President Obama was last night in his State of the Union address.  He continually repeated the following themes: We’ve made a comeback Getting the job done Finish the job Equality and fairness […]

The Meyers Report: Economic Notes

Energy Independence We are working on it. Despite increased government impediments, over the last seven years, our crude oil imports are down 23% and our exports of crude and refined products are up by 230%, according to the US Energy Information Administration. In terms of net imports of all petroleum products, we have gone from […]

The Meyers Report: Economic Notes

Indicative of most other interest rates, the 10-year swap rate rose dramatically this past week. The most significant of the economic releases due this coming week is Thursday’s report on consumer spending and income in May. Although the numbers are almost a month old, they represent the most comprehensive view of consumers’ behavior. We the […]

Meyers Report: Economic Notes

There wasn’t much in the way of significant economic news last week. What little there was turned out better than expected. Retail sales were reported to be up at almost a 7% annual rate in May. The gain helped to offset some previously very weak numbers. After the latest increase, retail sales are up at roughly a […]

Meyers Report: Fed Policy Hurting Bank Lending

The Federal Reserve has massively increased bank reserves to stimulate the economy. This policy has been a complete failure. Instead of increasing, the pace of spending has actually decreased. For the US, spending over the past year has slipped to 3½%. It was 4% in the previous two years. Here’s how it is supposed to work. By purchasing securities, the Fed […]

The Meyers Report: Economic Notes

Vehicle sales in May (up 2.5% from April) were equal to the strong pace of the first quarter. Initial unemployment claims for May remained, in the vicinity of 350,000, which were little changed from the last three months. Rasmussen Consumer Confidence Index. The dip we saw a week ago Sunday continued pretty much for the […]

The Meyers Report: Low Interest Rates Going Away?

Investors, if you haven’t dumped your long-term bonds already, do it now. If you are refinancing a commercial loan or a home mortgage, do it now. If you are buying a home, do it now. If you are selling a home, take the deal you are being offered now and don’t haggle. Why? Interest rates […]

The Meyers Report: Economic Notes

Refinancing of SBA Loans Last September the SBA’s ability to provide refinance loans expired. This was a critical issue since so many banks were choosing to not renew loans, even if the loans were performing as agreed in their contracts. As a result, unnecessary pressure was being placed on small businesses even if they were […]

The Meyers Report: Economic Notes

Although there are only second tier economic numbers due this week, several have the potential to affect financial markets. Retail sales for April were up 0.1%, and hold the potential to dampen investor’s optimism. March sales were down 0.4% for the month and were up only 2.8% from a year ago. However, retail sales data are extremely unreliable and subject […]

The Meyers Report: SBA and the 4 Cs

SBA Loans Growing In Number On May 4th, the SBA reported that year-to-date, there have been 26,010 SBA 7-A loans issued for a value of $9.739 billion. While this is up from last year’s Y-D of 25,047 and $8.094 billion, it is down from 2011 by 23.95% in loan count and 26.65% in dollars. With […]