Private spending on capital goods is a measure of business confidence in the economy. If business people believe the economy will grow, they invest more in plant and equipment. If they are not optimistic, they pull in their horns. This week’s Commerce Department report on Durable Goods orders contains a nugget or two that help us to see how business people are…
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The Great Divergence- Orders Not So Durable As Stock Prices Bubble
by Lee Adler •
“U.S. factories reported flat demand for big-ticket goods in August, suggesting the economy continues to be restrained by sluggish business spending,” reported The Wall Street…
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Main Street Sucker Punched on the Housing “Recovery” – Now Fed Left No Way Out
by Lee Adler •
Whether you think there has been a housing “recovery” or not is a matter of perspective. Sales are indeed up 117% since the 2010 low,…
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New Home Sales Biggest Monthly Decline In History- A Warning Shot
by Lee Adler •
The Commerce Department reported today that sales of newly built homes posted a seasonally adjusted month to month decline of 7.6% to an annualized rate…
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Housing Inflation- A Simple Case of Supply and Demand Exacerbated By Low Rates
by Lee Adler •
Housing demand growth is slowing, so why is housing inflation continuing at a steady pace more than twice the rate of the CPI? The answer…
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Falling Mortgage Rates Increase Buyer Subsidy But Don’t Stimulate Sales
by Lee Adler •
There were two important releases on the US housing market today. One is the widely followed Existing Home Sales report from the NAR and the…
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Here’s How We Know The Census Bureau Report On Household Income Is Bogus
by Lee Adler •
The US Government publishes lots and lots of economic data, much of it conflicting, and much that’s highly suspicious. We know that the Household Income…
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Housing Starts Disappoint, Big Picture Worse, But Does It Matter?
by Lee Adler •
The Commerce Department reported that the headline number for August housing starts was 1.142 million units. This was below the overly optimistic consensus estimate of…
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Disaster In The European Banking System Exposed
by Lee Adler •
ECB data on bank deposits for the Eurozone shows total bank deposits down sharply in July, breaking the uptrend in force since the low in 2014. That’s shocking considering that the ECB just boosted its money printing QE programs. Deposits should be rising steadily in concert with the amount of QE, not falling. But cash extinguishment and capital flight are increasing faster than the ECB can print.
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Chart Shows 5.2% Household Income Gain Vs. Reality
by Lee Adler •
The US Census Bureau said yesterday that annual household income rose 5.2% in 2015. Compare that with the gain in BLS reported average weekly earnings…
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Median Household Income Rose 5.2%! Yeah. PLA says That’s The Ticket
by Lee Adler •
New York Times- Binyaming Applebomb- Household incomes for American families rose strongly in 2015, breaking a yearslong pattern of income stagnation. The median household’s income in…
