This week in 1991, a little-known band checked into the Sound City Studios in Van Nuys, California to record their first studio album. The band needed to play a few shows on the way just to afford the gas money required to get from Seattle to Los Angeles. The album, recorded over 16 days and with a budget of $65,000, featured unmistakable power chords and
This week in 2013, Jeff Buckley’s “Hallelujah” was selected for induction into the Library of Congress’ National Recording Registry...This month’s economic indicators are a lot like that. We’re letting out one big hallelujah, as we continue to post record low unemployment rates (1.9%), over $818 million in monthly gross sales, increased passenger usage, and an increase in primary jobs.
This month's economic indicators are a bit like that. They're meant to mess with your head. That's because the economy continues defying the logic of the Federal Reserve, which continues to raise rates to try and trim inflation. With the Prime Rate at 7.75% and likely to continue to go up, traditional economics would tell you to expect a slowdown.
This week in 1981, the band Mötley Crüe was formed. The stories about the band are crazy. Drug-fueled debauchery, alcohol-induced hedonism, and hair metal on the sunset strip—these are all themes the Crüe not only embodied but promoted for decades. Nikki Sixx, the band’s bassist, said he wanted Motley Crüe to be the band
This month’s economic indicators are a lot like that—hard to know the meaning. On the one hand, inflation is beginning to drop from the previous month. Consumer spending remains strong at almost $800 million a month in Rapid City. Building permits, valuations, and primary jobs are still strong. But on the other hand, workforce participation and the cost of housing are still a concern.
This month’s economic indicators are a bit like that — sampling from another economy in another time (namely, the 1970s) and bringing inflation to a wider audience who has never experience price increase above a 3% cost-of-living adjustment.
“Another One Bites the Dust,” it seems, may be one of the most utilitarian songs ever created. This month’s economic indicators are a lot like that—useful for both optimists and pessimists.
This month’s economic indicators are a bit like that—a better version of the month before. Take, for instance, consumer spending, which is up from the previous month and pushing nearly $900 million. The same is true of wages and population growth, where Rapid City’s MSA increased by a thousand people.
Notice we’ve set an all-time high in population, meaning Rapid City’s trade area is now estimated to be above 150,000. Wages are up from last year’s numbers, gross sales are still ¾ of a billion dollars, and building and housing permits continue to blaze into the market.
On this day in 2011, the pop band Maroon 5 released one of the best tribute songs ever made, “Moves Like Jagger.” The song, fused throughout with disco and electro-synth beats, is about a guy trying to impress a girl by comparing his dance moves with those of Mick Jagger. This month’s economic indicators are a little like that—trying to convince you they can dance. Yes, unemployment is still low, and gross sales nearly hit $1 billion in one month in Rapid City. And average weekly wages are still above $900 a week.
But everyone knows the real story.