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January 8, 2026 

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REAL WAGE: The inflation-adjusted purchasing power of the nominal wage. The real wage is commonly derived by dividing the nominal wage by the price level, indicates the physical quantities of goods and service that can be purchased with the nominal wage.

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AUTONOMOUS EXPORTS

Exports to the foreign sector that do not depend on domestic income or production (especially national income or gross domestic product). Exports depend on foreign income or production, but not on domestic income or production. While other expenditures have both autonomous and induced components, exports are exclusively autonomous. Autonomous exports are a key part of the autonomous part of net exports. Induced net exports are due to induced imports.

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Today, you are likely to spend a great deal of time searching the newspaper want ads trying to buy either any book written by Stephan King or a T-shirt commemorating next Thursday. Be on the lookout for the happiest person in the room.
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Lombard Street is London's equivalent of New York's Wall Street.
"Most people never run far enough on their first wind to find out they've got a second. Give your dreams all you've got and you'll be amazed at the energy that comes out of you."

-- William James, Psychologist

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Autoregressive Conditional Heteroskedasticity
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