Paulitical Economy™
A snapshot of what’s going on in the world’s economy.
Episodes
January 12, 2026 • 35 mins
- A look at how pension plans compare between the Canadian private and public sectors.
- Car prices in the U.S. and Canada have soared.
- And no, it’s not because of tariffs.
- Macy’s seems to be turning around its business.
- And more evidence of the Special K phenomenon.
- But not all luxury companies are benefiting, and Saks Global may be filing for bankruptcy protection.
- And we take a look back.
- Continuing our luxur...
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January 5, 2026 • 36 mins
- The price of weight-loss drugs is plummeting.
- Used luxury watches are a multibillion dollar business.
- And so are fakes.
- TV watching via streaming has taken over.
- And YouTube leads the way.
- The percentage of American homeowners with a mortgage has been declining.
- But is due to a generational divide with the next generation’s monumental mortgage debt funding the retirement of mortgage-free Boomers.
- Audiobooks ...
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December 29, 2025 • 39 mins
- Electric vehicle demand is a fraction of what auto manufacturers thought it would be.
- But government involvement helped to distort expectations.
- Ford takes a huge write-down.
- But government involvement helped to distort expectations.
- Coty is a leading cosmetics/fragrance company founded in Paris.
- Its sales are falling, but not as fast as its share price.
- And we take a look back at this interesting business.
- Do you know what a flacon is?
- And we take a look back at this interesting business.
- Its sales are falling, but not as fast as its share price.
- We revisit ...
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December 22, 2025 • 44 mins
- Christmas with Andy Williams and the murder trial of his ex-wife.
- The US restaurant industry is seeing negative foot traffic.
- This is what happens when inflation drives dining costs through the roof.
- However, after a rough patch in late 2024, Olive Garden owner Darden Restaurants continues to generate decent sales growth.
- A quick, closer look at Costco Travel.
- And great deals on car rentals too.
- And some people wi...
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December 15, 2025 • 47 mins
- Lululemon continues to struggle in the US.
- While Costco continues to relentlessly drive sales higher.
- People continue to flock to RH for luxury furniture.
- But investors refuse to do likewise with the share price.
- The overall rejection rate for new credit applications is the highest in at least ten years.
- Almost half of mortgage refinance applications were rejected.
- Auto parts sales in the US continue to do well.
- ...
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December 10, 2025 • 37 mins
- I’m reposting my first and so far only Pollitical Economy (2023) which asked you for your favourite Christmas movie.
- Giving you some Christmas viewing ideas.
- Another look at Canada’s housing affordability crisis.
- It’s more widespread than people think.
- And how it’s predictably fueling anti-immigration attitudes.
- It’s more widespread than people think.
- Netflix is shooting the lights out.
- And now they’re buying Warner Brothers.
- And a look ba...
- And now they’re buying Warner Brothers.
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December 1, 2025 • 43 mins
- Apple is a pretty impressive business founded by a very impressive entrepreneur.
- But its share price is way ahead of the business i.e. expensive.
- We take a look back.
- But its share price is way ahead of the business i.e. expensive.
- After many quarters of negative comparable store sales growth, Best Buy’s sales are actually accelerating.
- Strongest growth in over four years.
- Hewlitt-Packard adjusted sales have now grown for six straight quarters.
- And we take a look bac...
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November 25, 2025 • 41 mins
- Home Depot sales are once again weakening.
- They’re blaming a lack of hurricanes.
- Target department store sales are accelerating downwards.
- With discretionary items taking the biggest hit.
- Meanwhile, consumers are increasingly turning to off-price retailers such as TJ Maxx and Marshalls.
- Sales are accelerating upwards.
- Core inflation in Canada remains elevated.
- And I add some comments on the scandalous in...
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November 17, 2025 • 57 mins
- Americans are dining out less often.
- Traffic has been down eight months in a row.
- Yet Darden, owner of Olive Garden, is seeing same store sales accelerate.
- But not Wendy’s:
- US same store sales are accelerating downwards.
- They said that lower income consumers remain under pressure.
- And we take a look back.
- As financing costs go up, used car sales go down and loan losses go up.
- CarMax, the largest used car dealer in the US, is struggling...
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November 10, 2025 • 41 mins
- Manufacturing in the US has been contracting for most of the last three years.
- Chipotle has a younger customer base that is struggling economically and thus eating at home more often.
- Its share price is down 47% this year.
- Starbucks comparable sales finally turn positive – just.
- Introducing the PM Loser Index.
- McDonald’s sales tick down a bit but still in positive territory.
- Traffic from low-income consumers was down alm...
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November 3, 2025 • 47 mins
- All of a sudden a lot more companies are announcing layoffs.
- Things have significantly changed from when companies used to hoard employees just in case.
- A look back at Porsche.
- And sales are falling as their customers are feeling poorish.
- US inflation ticks up to its highest level in eight months with core inflation remaining well above the Fed’s 2% target.
- Which itself is a joke.
- Core inflation measures in...
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November 3, 2025 • 49 mins
- A look at social security in the US.
- It will be insolvent within ten years in large part because deductions from payroll to pay for social security are consumed rather than invested.
- Krispy Kreme is experiencing consumer demand that is softer than their donuts.
- And a look back.
- Sales for Gucci and Yves St. Laurent are less bad.
- And they sign a new deal with L’Oreal.
- L’Oreal continues to grow its like-for-li...
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October 23, 2025 • 37 mins
- Cheap funding has been the main cause of housing affordability crises.
- After two quarters of negative sales growth, luxury group LVMH creeps into positive territory.
- And after only one quarter of negative sales growth, Domino’s soars into positive growth territory.
- Amazing what happens when you improve your customer value proposition.
- Pepsi’s volume has declined for thirteen straight quarters.
- And prices continue to ris...
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October 13, 2025 • 42 mins
- Beer maker Constellation Brands’ sales and share price are going down faster than its beer.
- US office vacancy rate ticked down from last year.
- But is still over 25% in some Western cities.
- When you buy a home the government assumes you’re paying rent to yourself and they add it to GDP making the economy look much stronger than it really is.
- Particularly if there’s a housing bubble.
- Another reason policymakers li...
- Particularly if there’s a housing bubble.
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October 6, 2025 • 35 mins
- PACCAR is one of the leading truck manufacturers in the U.S.
- A look back.
- New truck deliveries are down 13.5% from pre-COVID
- J.B. Hunt is one of America’s largest trucking companies and its sales growth has finally nudged into positive territory.
- And no, supply chain bottlenecks did not cause the inflation of 2022.
- UPS sales growth in the US returns to negative territory.
- But Fedex’s sales accelerate.
- Mortgages in Ca...
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September 30, 2025 • 50 mins
- Two thirds of American workers are now living paycheck to paycheck.
- And job prospects are the lowest in at least 12 years.
- Kellogg’s has had a long history and the company split into two separate businesses a couple of years ago.
- Now both of those businesses will be taken over by private companies.
- Sales for both are very weak.
- Now both of those businesses will be taken over by private companies.
- Lennar is one of America’s largest home builders.
- Its home prices are now do...
Mark as Played
September 22, 2025 • 45 mins
- Tariffs are sending coffee prices soaring.
- A tax for American consumers with no benefit.
- Delta Airlines passenger revenue growth has been grinder lower for the last couple of years and is now flat:
- And now falling in economy class for two straight quarters.
- Lululemon has not grown comparable store sales in the US for a year and a half.
- And sales are accelerating downwards.
- The Canadian government has wisely...
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September 15, 2025 • 42 mins
- We start by taking a look back at Heinz.
- And two decisions that ended their long-term relationship with McDonald’s.
- Healthcare costs for Canadian boomers are being subsidised by the next generation.
- As well as their retirement.
- Headline consumer price inflation in the US ticks up in August and core inflation remains elevated.
- And it was mainly due to services i.e. not tariffs.
- Headline wholesale inflation f...
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- After seven straight quarters of sales declines, and fourteen quarters of declining volume, Kraft Heinz has announced that they will split up the company.
- The merger of the two companies back in 2016 has been a disaster.
- And we take a look back.
- Canadians are falling behind on their debt payments.
- Home prices in Canada have outpaced those in the US.
- It’s primarily due to money supply growth and low interest rates.
- And Ca...
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September 1, 2025 • 30 mins
- 49% of the homes sold in the US this year were under the price of $400,000
- Up from 43% in 2023.
- Shooting deaths in New York City are at an all-time low.
- But shooting up is still a problem.
- Headline inflation in Canada excluding energy seems to be stabilising.
- But core inflation remains elevated.
- Canada’s income gap hits a record.
- The top 40% account for 66% of after-tax income.
- And 86% of net worth.
- The top 40% account for 66% of after-tax income.
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