Economics

Here’s Why We Appreciate Housing Sales and The Fraud MUST Go On

Existing Home Closed Sales and Contracts- Click to enlarge

“Sales of previously owned homes rose in February, a sign that the housing market is healing…” That’s how the Wall Street Urinal reported today as it pointed to a 1.2% increase in the seasonally adjusted (SA)  nonsense National Association of Realtors (NAR) existing home sales (EHS) number. The reported figure is an  annualized number, multiplying the monthly…

About That Deflation

"Core" PPI - Click to enlarge

When inflation is too high the Fed and Wall Street conomists always de-emphasize that by keeping the focus on “core” inflation, that is excluding food and energy. So in the spirit of Fed and Wall Street conomics, I thought it would be fun and edumacational to show a chart of “core” finished goods PPI. As…

Here’s How Blowout Jobs Numbers Are Like Termites

Low Wage Jobs Surge- Click to enlarge

Look at those wonderful jobs numbers. It’s like a beautiful house where, hidden from view, termites are quietly and insidiously, slowly but surely, eating away at its structural elements. Eventually the building just starts falling apart and must be condemned. The seasonally adjusted headline number for nonfarm payroll jobs added in February was 295,000. The consensus estimate…