Existing home sales decline to recessionary levels; prices have clearly turned down; low inventory still a problem – by New Deal democrat As I wrote earlier this morning, my primary interest in existing home sales at this point is prices. [Note: graphs below for sales and prices does not include October] For the record, existing home […]
Core inflation using house prices rather than imputed rents – by New Deal democrat Later this morning existing home sales will be reported for October, which will mainly be of interest to me only for what happened with prices, and secondarily whether the problem of low inventory which has existed for 3 years is moving in […]
Housing permits and starts continue to fall, but housing under construction continues to (slowly) rise – by New Deal democrat The monthly numbers for housing permits, starts, and single family permits all declined this month. Permits (red in the graph below) declined -38,000 annualized to 1.526 million annualized, and starts (blue) declined -62,000 annualized […]
Before you start chattering at me about this and that detail, let’s get an understanding. I am supply chain and manufacturing or manufacturing and supply chain. If there was a job opening in either and with appropriate pay, I was more than likely in. Companies hiring me usually did so because they had a problem. […]
October retail sales: consumers: “We’re not dead yet!” – by New Deal democrat Retail sales, my favorite consumer indicator, was reported this morning for October. And it was a good number, up +1.3% nominally, and up +0.5% after adjusting for inflation: On the bright side, this was the highest absolute number since April. On the […]
The Audition Commodity Richard Serra and Carlotta Fay Schoolman produced the video, “Television Delivers People” in 1973. It manifests a critique of television mass media that was subsequently defined by communications scholar, Dallas Smythe as the “audience commodity” but the outline of which had already been presented by him in 1951 in the Quarterly of Film, […]
October industrial production: consistent with a very slow expansion – by New Deal democrat I call industrial production the King of Coincident Indicators, because more often than any other metric it coincides with the peaks and troughs of economic activity as determined by the NBER, the official arbiter of recessions. Unlike retail sales, the news […]
October producer prices: more evidence that supply chain pressures have eased – by New Deal democrat Let me start this discussion of October’s producer price index by pointing to the NY Fed’s “Global Supply Chain Pressure Index” for the past 5 years through October: Before Trump’s tariff’s in 2018, most often this index was slightly […]
Each week, I go through the reads, I am getting in my In-Box. I would like to think there are some of these articles which might make for an interesting read to Angry Bear readers. They keep pestering me to subscribe. As it is now, many I skim. If it interests me I might take […]
Some foreboding signs and portents from consumption and employment data – by New Deal democrat I have a special post up at Seeking Alpha, looking at some very troubling signs from several of the high frequency indicators I track weekly as to consumption and employment. Click over and read the whole article, but here is a little taste: […]