Economics

The More Things Change, The More They Stay The Same

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Lee Adler goes behind the paper curtain of Wall Street propaganda to strip away the media hype and hysteria around the financial news headlines to show you the actual facts. With economic data whipsawing wildly, this week he focuses on the trend of actual data to reveal whether anything has changed that would cause the outlook to change. The answer probably won’t surprise you. Subscribers may click here to open or right click to download this video and play in your media player.

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Today’s RFWS was absolutely outstanding. (I’m glad I actually watched this one rather than just listening while running.) When it comes to financial journalism, Lee, you remain an island of sanity in a huge sea of crap. Thanks.

Bob

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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…

Sing LA LA LA and Pretend Housing Doesn’t Count – That’s How Conomists Ignore Inflation

Home Sale Prices and Volume- Click to enlarge

In the hall of mirrors where conomists live, there’s no housing inflation. When the prices of consumption goods rise it’s “inflation.” But when housing prices rise, it’s not inflation, it’s “appreciation.” It’s like stock prices. There’s literally no stock price inflation. There’s “multiple expansion,” or “appreciation,” but there’s no “inflation.” That’s how establishment conomists can claim there’s no…

First Time Claims Balloon But Is It A Warning?

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 294,000. The Wall Street conomist crowd consensus guess was 280,000. In the game of pin the tail on the number, this week was a miss. According to the Department of Labor the actual, unmanipulated numbers were as follows. “The advance number of…

Here’s Why Strong Retail Sales Per Capita Ex Gas Chirps Like A Canary

Real Retail Sales Per Capita- Click to enlarge

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Non Farm Payrolls- What A Picture Is Worth

Non Farm Payrolls- Click to enlarge

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