November manufacturing and October construction both decline, the former almost at recessionary levels  – by New Deal democrat As usual, we begin the new month’s data with the ISM manufacturing index. This index has a very long and reliable history. Going back almost 75 years, the new orders index has always fallen below 50 within 6 months […]

October CPI report: total inflation increasing at 3.5% annual rate, core inflation minus shelter increasing at 2.8% annual rate in the past 4 months  – by New Deal democrat For a full year now I’ve been hammering the fact that the official CPI measure of housing inflation, “owners’ equivalent rent,” seriously lags actual house prices as […]