Nobody is getting laid off: the continuing saga Initial claims declined another 1,000 this week to 268,000, and the 4 week average declined 5,250 to 272,750, both – yet again – new pandemic lows: For the past 50 years, initial claims have only been at these levels for 2 months at the peak of the […]
Blogger RJS, MarketWatch 666 and Focus on Fracking, Global Oil Shortage at 1,930,000 barrels per day in October as OPEC’s output falls 588,000 barrels per day short of quota OPEC’s October Oil Market Report Thursday of this week saw the release of OPEC’s November Oil Market Report, which includes OPEC & global oil data for October, and […]
Latest US Oil Supply and Disposition Data from the EIA. Blogger RJS, Market Watch and Focus on Fracking Gasoline supplies at a 48 month low, distillate supplies at a 19 month low; total inventories of oil and all its products at a 79 month low US oil data from the US Energy Information Administration for the […]
. . And Industrial Production isn’t too shabby, either Industrial production, the King of Coincident Indicators, was reported for October this morning in addition to real retail sales, discussed already in my last post. – and it was also quite positive. Total production increased 1.6% during the month, and manufacturing production increased 1.3%. This was […]
“Letters From An American,” November 18, 2021; Professor Heather Cox – Richardson Today began with Republican leadership doubling down on its support for Representative Paul Gosar (R-AZ), whom the House censured yesterday for tweeting a cartoon video of himself killing a Democratic colleague, Alexandria Ocasio-Cortez (D-NY), and attacking the president, Joe Biden. Only two Republicans […]
Housing construction continues to stabilize, but with record bottleneck in starts Last month I highlighted that housing constructions were stabilizing, following the stabilization in interest rates. This month continued that trend. In October, housing starts (green in the graphs below) decreased -0.7% m/m, while the more leading total permits (blue) increased 4.0%. The less volatile […]
Dems Continue To Sink Despite Improving Economy On the first page of today’s Washington Post was reported a poll showing that when a random sample was asked, 46% said they would vote for a generic Republican candidate for Congress versus 43% for a generic Democratic candidate. Given reported further pro-GOP gerrymandering, if this were to […]
Now *that’s* good news: another blockbuster real retail sales report Yesterday I wrote that the financial and production sides of the economy still looked very positive and that today’s retail sales number would be especially important. Well, they were very positive, clocking in at up 1.7% month over month in October. Even after inflation, “real” […]
Coronavirus dashboard for November 12: regional variations and the winter wave There’s a glitch in 91-Divoc collecting Johns Hopkins data, so the State by State totals have not been updated for several days, but here is Our World in Data’s update for the US as a whole: As of yesterday, cases are up only 3.5% […]
Dear Democrats: Yes, inflation is a problem [Update: I see where Larry Summers has obviously read my piece below, and says, “I agree with NDD!” (Just teasing)] In the past few days, I have seen a spate of articles and tweets from prominent partisans and economists telling Democrats not to worry about inflation, either because […]