Making America Great -- Riding The Wave -- March 2, 2019

Millennials, link here:

Millennial is an identity given to a broadly and vaguely defined group of people.

There are two wings of "Millennial" that are often at odds with each other: Generation Y (people born between 1981-1991) and Generation Z (born between 1991-2001).

People of Generation Y often have characteristics similar to Generation X, which is why Generation Z will confuse Generation Y with Generation X and then claim to be the generation that represents "Millennial," when in fact, birth years for Millennial range from about 1981-2001, just as the birth-years for Baby Boomers ranged from 1946-1964.

Both Generation Y and Generation Z can be called "Millennials," with the primary difference between the two being technology.

Generation Y grew-up on personal computers, cell phones, and video game systems, while Generation Z has grown up on tablets, smartphones, and apps. Yet, the common ground between both generations is that both have been transforming and altering communication and identity--not just in the United States but globally.

US home-ownership: hits highest level since 2014. Link here. And look where the shift is occurring: among millennials. The shift from renting to ownership is occurring, especially among 35 - 44-year-olds. In round numbers, big numbers, the overall percentage not changing much: sill around 64%. Only seven comments.

• born in 1981: 38 years old this year
• born in 1991: 28 years old this year

And guess what? All those millennials who said they never wanted a house, also said they never needed a car. Moving to their new home in the suburbs? Yup: a new car. Or two.

GDP, 4Q18: the 2.6% reported the other day was the initial estimate. There will still be two or three more readings before the final number. I think it could go to 3%. But now, bad news: right now the GDPNow model estimates 1Q19 GDP growth at 0.3 percent. With incredibly cold weather hitting the nation the first half of March, it's very possible, that estimate won't improve.

US Hispanic poverty: has fallen to a record low of 18.3%. Data points:

• Hispanics account for 18.3% of the popultion
• Hispanics: 18.3% live in poverty
• the 1.1% year-on-year decrease in their rate of poverty: largest single decline that the US Hispanic population has very experienced
• something tells me the Hispanic population does not support giving some of their dollars to other communities for wrongs in the past (reparations)
• African-Americans: 13% of the US
• Hispanic population growing much, much faster than the African-American population
• the rate of poverty among all Americans declined slightly to 12.3%, the third year in a row that that numbers have gone down
• Hispanic households also saw their median household income increase almost 4% to $50,486 in 2017, the third year in a row that the population saw a rise in pay

US taxes: thank you, tax reform -- WSJ op-ed. Kevin Hassett was right about growth in 2018; Larry Summers wasn't. 745 comments. First comment: "Didn't you mean, thank you, President Trump? Strange  how in this entire article, the only thin the WSJ gives Trump credit for is 'risky' tariff policies." Even the folks in the blue states where property taxes are capped by the IRS, they want more tax reform.

Surfin' USA, The Beach Boys