Economics

What’s Wrong With Factory Odors

The US Stock Bull Market Is Not About Manufacturing- Click to enlarge

Factory Orders for March came in at a seasonally adjusted headline number of a 2.1% monthly gain. That was in line with the Street consensus and a rebound from a drop of 0.1% in February. The pundits concluded that this would keep the Fed on track to raise rates this year. I have no quarrel with…

SA Headline Initial Claims Data Finally Catches Up to Long String of Record Lows in Actual Data

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The headline, fictional, seasonally adjusted (SA) number of initial unemployment claims for last week came in at 262,000, smashing the Wall Street conomist crowd consensus guess of 290,000. This finally called attention to the fact that claims have been at or near record lows for the past 19 months. But financial journalists make no effort to…

There’s No Inflation? Rents Rise 4.3% Year to Year But They Don’t Count

Owners Equivalent Rent vs. Market Rent- Click to enlarge

Median market rent for US rental housing units rose 4.3% year over year in the first quarter of 2015, according to data released today by the US Census Bureau. All of the gain came in the latest quarter, as rents were nearly flat for the previous three quarters. The first quarter increase compares with an…

Another Record Low In Initial Unemployment Claims But The Bubble Has Sprung Leaks

Initial Claims and Annual Rate of Change- Click to enlarge

The headline, fictional, seasonally adjusted (SA) number of initial unemployment claims for last week came in at 295,000, missing the Wall Street conomist crowd consensus guess of 288,000. Behind the headline numbers, claims continued to make record lows, below the lowest levels reached at the top of the housing bubble. Meanwhile, the number of states reporting…