– by New Deal democrat In my conclusion last month, I wrote “In the first two months of Q2, total real spending has declined by -0.8%, while services has been basically unchanged. If there is a further decline in June, based on the above discussion that would likely trigger a “recession watch” signal.” To cut to […]
Musk’s tunnel drilling company, The Boring Company, has announced a privately funded plan to build a 10-mile underground people-mover connecting the convention center and downtown to the airport. Take that to the bank? Not so fast. “Musk also claimed during the first Trump administration that The Boring Company had received “verbal govt approval” to dig […]
– by New Deal democrat This morning’s repeat home sales reports from the FHFA and S&P Case Shiller were not good news for sellers – but very good news for future consumer inflation readings. On a seasonally adjusted basis, in the three month average through May, the Case-Shiller national index (light blue in the graphs below) declined […]
Like commercial fusion power, Tesla’s robotaxis are always just around the corner but never quite here. In the case of Tesla, it doesn’t really matter because the marketing is the product. “There’s an old adage in the auto industry that if you want to move a product you have to “show the car.” Tesla is […]
Criticizing former President Barack Obama’s for his use of executive orders, Pres. D. Trump claims or states he would prefer to work with Congress to pass laws. Dementia is creeping in as this refers to his first presidency and such is not in play now. I guess this was B.S. like everything else which spews forth from […]
As one commenter elsewhere stated: “Rural America hospitals in red states have been closing at an epidemic rate because the states refused to expand Medicaid under the ACA. Rural hospitals in blue states generally survive. The red states do not seem to care. Congress has not passed bills to save those red state rural hospitals” […]
– by New Deal democrat This morning’s report on new home sales for June indicated that sales continue to be rangebound, YoY prices continue to decline, and inventory of homes for sale continue to rise. This complicates the story of rebalancing between new and existing homes. To recapitulate, while new home sales are the most leading measure […]
– by New Deal democrat Last week I suggested that there might have been a break in the trend of higher YoY jobless claims, but there was not enough evidence yet. It is fair to say that this week’s report supplied that evidence. Initial claims declilned another -4,000 to 217,000, the lowest weekly number since mid-April. […]
This piece deserves a descriptive header by me. I will try . . . “first-term tax cuts) outweighed his concerns” Concerns by Hawley about what? People losing healthcare or concerns Trump will banish him and pick on him? The number also keep changing. An ~ 10 million people will lose access to US funded healthcare […]
– by New Deal democrat Housing data for June resumed this morning with existing home sales. Let me start with my usual caveat: although they typically constitute about 90% of all sales are the least important for forecasting purposes, since the main thing that happens is only a change in ownership, and therefore they have much less economic […]