Sorry, Madonna!

As the White House prepares to lift more sanctions on Venezuela’s oil industry, works to persuade major oil companies such as ConocoPhillips to give up on recovering billions of dollars owed them by the country with the world’s largest on-record crude reserves, and tries to persuade other oil outfits to invest in development, Americans wait to see what it means for them and the future of gas prices.

Global production graph to provide planet-wide context:

As of 2021

Independent, Like Nevada

Partisanship rules the airwaves, but the share of American adults who identify as political independents hit a record high of 45 percent last year, while the share of Rs and Ds was tied at 27 percent, according to new Gallup polling released Monday.

As of 2025

The 3 percent increase over past highs of 43 percent — recorded in 2014, 2023, and 2024 — was driven in part by younger Americans increasingly identifying as independent (56 percent of Gen Z adults described themselves that way in the poll).

Perception Poll

In response to not-good consumer sentiment about the cost of living,President Trump last week announced a pair of policies — banning institutional investors from buying single-family homes and capping credit card interest rates at 10 percent — that were well-received by populist Republicans but displeased others in the GOP so most likely will go nowhere.

An ABC News/Washington Post/Ipsos survey from late September showed 71 percent of Americans believed they were spending more on groceries and 59 percent said the same about utilities. Reviews were more mixed on other costs, reflecting regional and economic differences in household circumstances.

As of 9/28/25

In Other Housing News

After a successful launch of its first residential development in Saudi Arabia, The Trump Organization is moving ahead with a second project — bringing the value of its real estate holdings in the kingdom to more than $10 billion.

The planned 500-mansion golf and residential community in Diriyah is a $63 billion, Public Investment Fund–backed development on the outskirts of Riyadh, an area that’s being developed into a cultural and tourist destination in partnership with Dar Global, the international arm of a Saudi-based property developer.

Image source: Dar Global courtesy photo

For those interested, mansions will be priced between $6.7 million and $24 million.

Private Equity Dip

Global PE fundraising declined in 2022 after a 2021 spike following the worst of the COVID pandemic, and last year saw a — equity funds closed on $407.5 billion in 2025, far less than the $611.6 billion raised in 2024 and the lowest number since 2016’s 3.44 billion, per PitchBook’s 2025 Annual Global PE First Look.

The number of funds to hold a final close also dropped sharply. Approximately 540 funds made it over the finish line in 2025, compared with 1,025 in 2024 and 1,680 in 2023.

Click here for the scroll-over version of the above graph showing precise amounts raised for each year since 2015.

2026 Economic & Commercial Real Estate Outlooks

For those interested in data, trends, risks, and opportunities on the Southern Nevada Commercial Real Estate landscape, we note two upcoming January events — both featuring number crunching and analysis by beloved Fact Pack Co-publisher and economist John Restrepo.

NAIOP will host a forecast-centric event this Thursday morning at 8 a.m. at the Orleans in Las Vegas (more information and registration here):

For those who prefer to hear forecasting on their lunch break, the CCIM Southern Nevada Chapter will host a midday luncheon panel — also at the Orleans — on Wednesday, Jan. 28, moderated by Lied Center for Real Estate Director Dr. Shawn McCoy (further information and registration here):

Golden State: Drought-free

For the first time in 25 years, Nevada’s neighbor to the west has fallen off the official U.S. drought monitor map. Storms in December pulled all remaining parts of California out of drought. As of January 8, 2026, regional measurements showed virtually no dryness remaining.

As for Nevada:

Health Rankings

The most and least healthy states in the U.S. have been ranked in the United Health Foundation’s America’s Health Rankings 2025 Annual Report using new data that synthesizes dozens of social and economic indicators.

At the top of the pile, from first to fifth:

1. New Hampshire
2. Massachusetts
3. Vermont
4. Connecticut
5. Utah.

The bottom, from 46th to 50th:



• West Virginia
• Alabama
• Mississippi
• Arkansas
• Louisiana.

As of 2024

New Hampshire clinched the top spot for the fourth consecutive year, thanks to its “Low prevalence of non-medical drug use, high prevalence of high school completion and low prevalence of adults using e-cigarettes.”

Louisiana took the 50th spot (also for the fourth year running) because of its “High economic hardship index score, high homicide rate and high incidence of chlamydia.”

Nevada Specifics

• State Ranking: Nevada ranks 42nd overall in health among U.S. states.

• Unemployment: Increased by 37 percent from 4.6 percent to 6.3 percent between 2023 and 2024, one of the largest increases among states.

• Drug Deaths: Increased by 27 percent — from 31.6 to 40.1 deaths per 100,000 — between 2022 and 2023 (most recent available data).

• Non-Medical Drug Use: Decreased by 37 percent from 39.3 percent to 24.9 percent between 2024 and 2025.

• Cancer Screenings: Increased by 24 percent — from 47.3 percent to 58.5 percent — between 2022 and 2024.

• Mental Health Providers: Increased by 5 percent from 344.9 to 362.6 providers per 100,000 between September 2024 and September 2025.

• Homelessness: Increased by 13% percent (or more, depending on data source) between 2023 and 2024.

• Air Pollution: Increased by 13 percent or more between 2019-2021 and 2022-2024.

Each state was ranked according to 50 weighted measures split into five different categories, which the report says are “Social and Economic Factors, Physical Environment, Behaviors, Clinical Care, and Health Outcomes.” For more detailed information, explore all the data and Nevada’s state summary on AmericasHealthRankings.org.

Are You Dead Yet?

We were amused to note that the top-ranked app in China’s iPhone App Store — available for 8 yuan or $1 dollar — is called “Are you dead yet?” and features a large green button users tap to provide proof of life and an alert function that notifies an emergency contact if the button is not tapped daily.

That’s it.

Source: X.com

In the way of an explanation for its development, China is forecast to have roughly 200 million single-person households by 2029, including students, urban workers, and the elderly, as summarized by China’s state-run Global Times over the weekend.

One doesn’t need to live in China to understand the app’s value. Millions of Americans live far away from ill or aging parents, grandparents, siblings, cousins, aunts, uncles, and friends. In some cases, nearby friends and neighbors can do as-needed welfare checks — but receiving daily assurance that loved ones are alive has obvious social value.

The app creators have reportedly responded to its popularity and user feedback by promising improvements including improved SMS notifications and the addition of simple messaging and other elder-friendly functions.

They’re also considering changing the name, which has been widely criticized in China because of a preference for staying the positive side of language and symbols. (Example: Alibaba Group Holding Ltd.’s Hong Kong ticker, 9988, aligns with the Chinese symbol meaning “long prosperity.”)

Super Bowl Prognosticating

Now that all wildcard games but one — the Steelers vs. the Texans — have been won or lost, we asked Google AI what the oddsmakers think about the big game on Feb. 8.

As of 1/12/26 at 11:27 am

The Super Bowl will be played at Levi’s Stadium, in Santa Clara, California, home of the San Francisco 49ers. It will be the first Super Bowl played in the Bay Area since Super Bowl 50, when the Denver Broncos defeated the Carolina Panthers 24-10 in a game dominated by Denver’s defense, led by MVP Von Miller, who sacked Panthers quarterback Cam Newton multiple times and forced four turnovers that resulted in points. The win marked Peyton Manning’s final NFL game.

On the Horizon

MarketWatch calendar:

Data & Dialogue About the Economy



The Fact Pack is a monthly business e-report co-authored by Mike PeQueen of Hightower Las Vegas and John Restrepo of RCG Economics, which combines important metrics relevant to business decision makers and financial commentary on the current issues facing the economy.

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