Independent thinking for complex markets and current events
by confoundedinterest17 More evidence of how destructive Biden/Harris economic policies have been. The NAR data show existing home sales down 2.5 percent in August to a 3.86 million unit seasonally adjusted annual rate after a small upward revision to 3.96 million units in July. US existing home sales fell in August to near 14-year lows. …
by confoundedinterest17 That’s Biden/Harrisnomics! US Leading Economic Indicators down for their 29th straight month – at a level worse than the trough of COVID lockdowns… …and the head of The Conference Board says ‘nothing to see here’… “The LEI continues to fall on a month-over-month basis, but the six-month annual growth rate no longer signals …
by confoundedinterest17 Following last month’s ‘deflationary’ print (-0.1% MoM), analysts expected headline CPI to rise 0.2% MoM and they were spot on, shifting the YoY CPI print to 2.9% (from 3.0%) – the lowest since March 2021… Source: Bloomberg Core CPI also rose 0.2% MoM (as expected), and the YoY rate of inflation slowed to 3.2% (from …
by confoundedinterest17 The wheels are coming off Bidenomics. Code for corporate welfare and massive government spending. Coupled with misguided and burdensome regulations, we got gut wrenching inflation. The result? A disastrous stock market showing yesterday. What has Biden/Harris’ economic agenda wrought? Record high personal debt and record low savings rates.
by confoundedinterest17 Here is Biden/Harrisnomics in one chart! Treasury (interest) payments are growing faster than other government outlays and a larger than the entire Defense outlays. Leading outlays include Medicare/Medicaid and Social Security. Here is Treasury Secretary Janet Yellen symbolically gorging on a foot-long sub. No one spends like unelected government bureaucrats!