Economics

Initial Claims Below Record Lows Of Housing Bubble Show Economic Distortion, Overheating

Initial Unemployment Claims Per Million Workers- Click to enlarge

Initial claims for unemployment are below bubble record levels after first reaching that extreme in September of last year. The warning signs of a distorted, maladjusted, overheated economy continue. The headline, seasonally adjusted (not actual) number for initial unemployment claims for the week ended July 12,  the 27th week of the year, was 302,000, which was 11,000…

Industrial Production Surge Looks Like 2007 Just Before Economy Collapsed

Industrial Production, The Fed, and The Stock Market - Click to enlarge

The headline number on Industrial Production “missed” today, coming in at a seasonally adjusted gain of 0.2% versus the economic consensus guess of 0.4%. But is that accurate and does it matter? The Fed’s actual, not seasonally adjusted (NSA) Industrial Production Index was up 2.8% in June versus May. That’s a completely average performance for June,…

Escape Velocity? As Good As It Gets? Or A Dangerous Economic Extreme?

JOLTS At Record Extreme- Click to enlarge

Initial claims for unemployment remain near bubble record levels after first reaching that extreme in September of last year. The warning signs of a distorted, maladjusted, overheated economy continue. The headline, seasonally adjusted (not actual) number for initial unemployment claims for the week ended July 5,  the 26th week of the year, was 304,000. The consensus…