The worst interest rate upturn since 1994 is likely to produce the worst housing downturn in over a decade No economic news of note today; but tomorrow we will see housing permits and starts for March, and on Wednesday existing home sales. So let’s take an important look at housing. The recent increase in mortgage […]
The worst interest rate upturn since 1994 is likely to produce the worst housing downturn in over a decade
Daily Global Oil Surplus despite OPEC Production Short Fall
RJS Summary; Global oil surplus at 710,000 barrels per day in March despite OPEC’s 821,000 barrel per day production shortfall OPEC’s Report on Global Oil for March Tuesday of the past week saw the release of OPEC’s April Oil Market Report, which includes details on OPEC & global oil data for March, and hence it gives us […]
We May Be on The Precipice of a Dust Bowl
We May Be on The Precipe of a Dust Bowl La Niña is showing her brutality as places that need to plant soon are snowed in and the places that have planted are dry, dry, dry, with the exception of the Mississippi floodplain. Here in central Texas, we are hit and miss with the official […]
PPI, Goods, and Services Up. Record Highs . . .
RJS, MarketWatch 666 Summary: Producer Prices Rose 1.4% in March, Annual Increase at 11.2%, with Goods Up 15.7%, Services Up 8.7%, All Record Highs The seasonally adjusted Producer Price Index (PPI) for final demand rose 1.4% in March, as average prices for finished wholesale goods rose by 2.3% and final demand for services rose 0.9% . . […]
Rapid 2020 Recovery, Faster than Previous Recoveries
Coming from a different source of information . . . Employ America emphasizes a rapid recovery in 2020 as measured from a pre-recession peak till now. If you recall the 2008 recovery after Wall Street and banks were faltering was by far longer. In this case, we are looking at a Covid inspired period of […]
Real aggregate payrolls and sales
Real aggregate payrolls and sales There seems to be some pushback against the narrative that real wages have declined, based on compositional effects (lower pay occupations vs. higher pay occupations). While some of that is true (for example, 5/6’s of all leisure and hospitality losses have been recovered, vs. 3.4% actual job *gains* since February […]
Less Oil Production and Higher Gasoline Prices, Why?
Why Less Oil Production and Higher Gasoline Prices? I mean the obvious answer is Demand is outstripping Supply. Oil companies and refineries are not the charitable type either. No oil/natural gas pipeline would have helped either. Digby had the answer up on Hullabaloo (15th) which I read first so credit goes there first. Digby did […]
The production side of the economy remained solid in March
The production side of the economy remained solid in March Industrial production, the King of Coincident Indicators, increased in March by 0.9%. February was also revised higher by 0.4%, but January was revised lower by the same percentage, for a wash. Manufacturing production also increased 0.9%. Total production thus made another new record high, while […]
Happy Easter & Hello Spring
For those up north in the hinter lands of the US. Nineties today in AZ and more of the same tomorrow. Have some dinner with family, friends, and take in a stranger too. Give to those who need help. Practice the religion of your choice, if you have one you favor. Say hello to neighbors. […]