With seasonality over, it is clear that Omicron is responsible for increased layoffs With seasonality behind us, it is apparent that Omicron has resulted in increased layoffs. New claims declined 30,000 last week to 260,000 – still well above its pandemic low of 188,000 set early in December. The 4 week average of new claims […]
by Joseph Joyce The Coming Wave of Debt Restructurings The news that the Federal Reserve will raise interest rates in 2022 sooner than anticipated was not surprising in view of the continued high rates of U.S. inflation. While U.S. asset prices are falling in response to the prospect of higher rates as well as a […]
RJS: Focus on Fracking December global oil shortage was 1,240,000 barrels per day as OPEC output was 625,000 barrels per day short of quota; global oil shortage for 2021 was 1,446,300 barrels of oil per day. Tuesday of this week saw the release of OPEC’s January Oil Market Report, which includes OPEC & global oil data […]
New home sales surge, while house price measures decelerate; expect deceleration or even downturns in each Since I didn’t post yesterday, let me catch up today with a note on both new home sales and prices.New home sales (blue in the graph below) for December rose sharply to 811,000 on an annualized basis. This is […]
The Arctic Hare and Walter Benjamin’s program for a proletarian children’s theater The hare was a child so badly treated and offended by the other people because he had such long ears that he went off to live alone. When he sees someone, he puts his ears back; for when he hears a man’s call, […]
New Deal democrat, “Historical Note on US Treasury Interest Rates and Stock Prices“ Over the weekend I was asked by two people what is going on in the markets. That’s usually a sign that there has been a sudden downside move, and people are getting emotional. Back 5 and 10 years ago, when I was […]
RJS, Focus on Fracking Oil prices rose for a fifth consecutive week and hit a 7 year high in the process, on supply disruptions in the Middle East and on rising tensions between NATO and Russia…after rising 6.3% to $83.82 per barrel last week on a softening of Fed rhetoric and on a production shortfall by […]
All throughout the Midwest, Plains, pretty much anywhere that doesn’t get adequate rain you can look on Google maps and see square fields with bright green circles in the middle. These are pivot fields that are irrigated from aquifers below. The corners of those fields are usually left barren. No, these are not the corners […]
by New Deal democrat Weekly Indicators for January 17 – 21 at Seeking Alpha My Weekly Indicators post is up at Seeking Alpha. A few months ago, in the midst of the Boom, virtually every indicator across all time spectrums was positive. In the past months, we have begun to see the deterioration in that situation, […]
US oil inventories near 10 year low as Strategic Petroleum Reserve falls to yet another 19 year low; gasoline imports at a 53 week low; gasoline exports at an 82 week low; 3 week gasoline inventory increase is largest on record, RJS, Focusing on Fracking The Latest US Oil Supply and Disposition Data from the EIA US oil data from the US Energy […]