You’re far more likely to encounter a billionaire in San Francisco than in any major city in the world

Photo by David Suarez on Unsplash

This month Forbes released its annual “billionaire cities” list, ranking the top cities in the world by the number of billionaires in their midst. The analysis also includes estimates of the aggregate wealth of these billionaires.

Forbes’ headline story for 2021: Beijing displaced New York City as the global leader of billionaire residents with an even 100, one more than New York. Beijing’s surge to the top of the heap is remarkable by any objective measure, but particularly since Beijing added 33 billionaires to its haul compared to only seven for New York. It’s all the more impressive — or…

COVID infection rates and deaths are generally much higher in red states than in blue states

Photo by Wendy Wei from Pexels

Ever since the widespread lockdowns last spring, there’s been pitched political debate over how much government should be doing to slow the spread of the novel coronavirus. Last month several media stories comparing the COVID-19 experience in California and Florida seemed to capture the flavor of that controversy.

California Governor Gavin Newsom boasted that his state suffers a lower death rate than most states, including Florida. But anti-maskers took evident glee in pointing out that the two states have had remarkably similar levels of both COVID-19 infection and mortality, despite famously restrictive policies in California and relatively laissez-faire policies in…

The pandemic’s deadly path from cities to farms — and from blue America to red

Photo by Tiffany Tertipes on Unsplash

The coronavirus pandemic in the U.S. originated in the nation’s densely populated, left-leaning urban communities but spread to increasingly less dense suburban and rural regions, where the politics tend to lean right. My detailed analysis of COVID data provides clear evidence of the striking shift in the infection’s political colors–and demonstrates that the migration from blue to red America was more extreme than would be implied by geography alone. Instead, politics and related social attitudes bear much of the blame for COVID’s greater and more deadly march through red America.

The Context: COVID Rates Are Incredibly High Just About Everywhere

Here we go again. The third COVID-19 wave started in…

The pandemic’s tragic path from cities to farms — and from blue America to red

Photo by Tiffany Tertipes on Unsplash

COVID-19 is sweeping widely through the country. Again. But each wave is hitting different political groups as it infects new areas. In the first part of my analysis of America’s growing political divide, I showed how voters are increasingly polarized by where they live; in the second article, I documented growing geodemographic differences among voter blocks. In this article, I chronicle the pandemic’s spread from urban areas to rural, and from blue regions to red. Population density certainly explains much of the spatial differences, as the virus advances chiefly through social interaction. But politics and social attitudes bear much of…

Photo by The New York Public Library on Unsplash

Recent positive economic headlines are easily misinterpreted. The record growth we’ve enjoyed follows even greater downturns and leaves us well short of prior levels on most key measures. With the recovery slowing across the board, a full rebound is not yet in sight.

The latest government reports have brought a spate of upbeat U.S. economic headlines. Last month, the Bureau of Economic Analysis (BEA) said that real GDP grew 7.4% in the third quarter, doubling the prior quarterly record growth and reversing most of the pandemic’s initial plunge in output. …

(That Just Might Get Us Through The Dark Winter)

Slowdown? What slowdown? The first estimate of third-quarter GDP growth far exceeded the reigning record for economic growth in a quarter — despite onerous constraints on economic activities. The Bureau of Economic Analysis (BEA) estimated quarterly real growth of 7.4% over the second quarter, or 33.1% on a seasonally adjusted annualized rate, topping even bullish consensus forecasts. Meanwhile the Bureau of Labor Statistics last week reported that employers continue to add an impressive number of jobs — also topping estimates — even if the pace keeps dropping.

Good news, right? But hidden in the bowels of the GDP report are…

Economies take a long time to recover after the trough

Photo by Andre Hunter on Unsplash

Next Thursday the Bureau of Economic Analysis will release its first estimate of economic growth for the third quarter of 2020. Almost certainly it will set records for the greatest absolute and percentage quarterly Gross National Product (“GDP”) gains since the government started calculating national income accounts just after WWII. Only three times has real GDP jumped more than 15% in a quarter, most recently in 1978. The current record holder occurred in 1Q50 when GDP soared 16.7% following a moderate recession in 1949.

The next GDP report should blow…

The Demographic Split in our Politically Divided Nation

Photo of scroll of “I voted” stickers
Photo of scroll of “I voted” stickers
Photo by Element5 Digital on Unsplash

Our country is deeply polarized politically. In my last article, I analyzed voting patterns by county and showed that the partisan divide extends beyond the virtual political landscape to the nation’s physical geography: Americans increasingly reside in counties that are decisively either Republican or Democratic. In this article, I examine the demographic differences that underlie the geographic divide — and no doubt drive our political divisions.

A Red and Blue Demographic Split

Although our recent national elections have tended to be relatively tight, the vast majority of our counties lean red. How have Democrats been able to remain…

A Nation Divided by Politics, Geography, and Demographics

photo of “I voted” stickers
photo of “I voted” stickers
Photo by Element5 Digital on Unsplash

No sentient American could be surprised to read that our political landscape is deeply polarized. But less understood, bordering on shocking, is just how wide — and wide-ranging — the physical divide has become. Far beyond the ideological differences between our two major parties and their followers, we are increasingly separated by geography and demographics.

True, our recent national elections have tended to be relatively tight and are much closer now than in prior centuries (though in recent days the 2020 Presidential race seems to be heading for a blowout). But as…

Part 2 of a two-part review of labor market conditions six months after the economic collapse

Photo by Elchinator via Pixabay

Half a year after the U.S. job market began to crater from the COVID-19 pandemic and ensuing lockdowns, the recovery is far from complete. In my last report, I examined the overall trends; in this report, I examine the recession’s differential impact on different demographic groups, especially women. The key takeaways from my deep dive:

· Despite record monthly job growth this spring and summer, we have recovered only half of the lost jobs lost during the frenetic initial weeks of the pandemic.


Andrew Nelson

Real Estate Economist | Research Leader | Data Wonk | Author and Speaker

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