'Star Wars' Digital Downloads: Aren't You a Little Expensive for a 40-Year-Old Movie?
The Star Wars movies are available today for digital purchase on services like iTunes, Google Play and Amazon Instant Video for the first time. For $89.99 you can own two and a half good movies, and then hours of other stuff George Lucas also made, now featuring nine additional hours of bonus features.
That purchase price might be palatable to some fans, but seems a lot to charge as a promotional tool ahead of this December's new J.J. Abrams-directed installment in the franchise, now owned by The Walt Disney Company. Especially considering the franchise has already earned something on the order of $27 billion across its various outlets.
But most of that went directly to Lucasfilm, before Disney completed its purchase. Along with its Marvel revenues, Disney should see quite the revenue bump from the sci-fi/fantasy world this year, with The Avengers: Age of Ultron, the sequel to the third-highest grossing movie ever, opening next month, followed by Star Wars: Episode VII in November.
While there are probably some people out there who have no idea what it means to ask "who shot first?", those people are not likely to pay $90 to find out. And for those fans who do know, it seems the new digital versions still have the wrong answer.
Number of the Day: $132,900
The cap on Social Security payroll taxes will rise to $132,900 next year, an increase of 3.5 percent. (Earnings up to that level are subject to the Social Security tax.) The increase will affect about 11.6 million workers, Politico reports. Beneficiaries are also getting a boost, with a 2.8 percent cost-of-living increase coming in 2019.
Photo of the Day: Kanye West at the White House
This is 2018: Kanye West visited President Trump at the White House Thursday and made a rambling 10-minute statement that aired on TV news networks. West’s lunch with the president was supposed to focus on clemency, crime in his hometown of Chicago and economic investment in urban areas, but his Oval Office rant veered into the bizarre. And since this is the world we live in, we’ll also point out that West apparently became “the first person to ever publicly say 'mother-f***er' in the Oval Office.”
Trump called Kanye’s monologue “pretty impressive.”
“That was bonkers,” MSNBC’s Ali Velshi said afterward.
Again, this is 2018.
Chart of the Day: GDP Growth Before and After the Tax Bill
President Trump and the rest of the GOP are celebrating the recent burst in economic growth in the wake of the tax cuts, with the president claiming that it’s unprecedented and defies what the experts were predicting just a year ago. But Rex Nutting of MarketWatch points out that elevated growth rates over a few quarters have been seen plenty of times in recent years, and the extra growth generated by the Republican tax cuts was predicted by most economists, including those at the Congressional Budget Office, whose revised projections are shown below.
Are States Ready for the Next Downturn?
The Great Recession hit state budgets hard, but nearly half are now prepared to weather the next modest downturn. Moody’s Analytics says that 23 states have enough reserves to meet budget shortfalls in a moderate economic contraction, up from just 16 last year, Bloomberg reports. Another 10 states are close. The map below shows which states are within 1 percent of their funding needs for their rainy day funds (in green) and which states are falling short.
Chart of the Day: Evolving Price of the F-35
The 2019 National Defense Authorization Act signed in August included 77 F-35 Lightning II jets for the Defense Department, but Congress decided to bump up that number in the defense spending bill finalized this week, for a total of 93 in the next fiscal year – 16 more than requested by the Pentagon. Here’s a look from Forbes at the evolving per unit cost of the stealth jet, which is expected to eventually fall to roughly $80 million when full-rate production begins in the next few years.
