A couple of minor technical problems called “business” and “life” have now intruded on my increasingly bogged down publication schedule that, in the interest...
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Posts Tagged ‘ Inventories ’
China’s towering metal stockpiles cast economic shadow | Reuters
(Reuters) – When metals warehouses in top consumer China are so full that workers start stockpiling iron ore in granaries and copper in car parks, you know the global economy could be in trouble. At Qingdao Port, home to one of China’s largest iron ore terminals, hundreds of mounds of iron ore, each as...
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Economy in US Grew Less Than Forecast in First Quarter – Bloomberg
BloombergEconomy in US Grew Less Than Forecast in First QuarterBloombergThe US economy expanded less than forecast in the first quarter as a smaller contribution from inventories overshadowed the biggest gain in consumer spending in more than a year. G...
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Listed House Sale Closings Rose 74,000 in March, Prices up 5% in Month, 2.5% in Year
The NAR reported today that their members settled 361,000 house sales in March (actual, not seasonally manipulated), up 74,000 from February. The median price rose 5.27% versus February and was up 2.5% versus March 2011. This was the largest monthly percentage price gain since June 2005. The year over year gain was the first...
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Herb Stein’s Law
Herb Stein’s Law: “If it isn’t sustainable, it will end“. Non fuel import prices rose 0.5% in March, once again an indication that the Asia supply chain is getting more costly. My theory is that the loss of cheap Asian supplie...
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ISM in Wonderland Media Reporting Versus Reality, Which Do You Prefer?
The big economic news story on Monday was the ISM Purchasing Managers Index. The headline number was only mildly positive, but it was enough so that Bloomberg was beside itself with joy. “Manufacturing in the U.S. expanded at a faster pace in March, driven by gains in employment and production that signal the world’s...
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CoreLogic Data Shows House Price Declines Slowing
CoreLogic’s data for January closed house sales (mostly November contracts) shows a year over year decline of 3.1% nationally. the month to month decline was 1%. However, the 12 month rate of decline has been slowing sharply. According to CoreLogic, 6 of the 10 largest metropolitan markets in the US showed year over year...
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Third Quarter GDP Revised Downward Yet Again
In their third estimate of the third quarter 2011 GDP, the Bureau of Economic Analysis (BEA) revised the headline growth number downward once again to an annualized growth rate of 1.81%. This revision represents a drop in the reported growth rate o...
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Delinquent Mortgage Squatting Time Sets New Record
Foreclosures are setting new records again, this time not in their overall numbers, but in the time it is taking for all of these properties to be processed through the legal system. The average loan in foreclosure has now been delinquent a record 6...
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Opinion: Black Friday: Another Crushing Economic Disappointment
Since Bloomberg refused to do this, I'll take the liberty of doing it for them. Shadowstats watchers know that U.S. inflation has been hovering close to 10% all this year. Therefore, to engage in a meaningful comparison of Black Friday 2011 with Black ...
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Third Quarter GDP Revised Downward
In their second estimate of the third quarter 2011 GDP, the Bureau of Economic Analysis (BEA) revised the headline growth number downward by over a half percent to an annualized growth rate of 2.01%. The real story within the data, however, was tha...
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GDP Improves Dramatically
The Bureau of Economic Analysis's (BEA) first ("Advance") estimate of third quarter 2011 U.S. Gross Domestic Product (GDP) was reported to be 2.46%, nearly twice the rate reported for the second quarter. The improvements were broadly spread across ...
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MILLIONS of Homes Lurk on Bank Inventories
MIAMI — Officially, there are 3.5 million homes for sale nationwide. But there are millions more lurking in the shadows — hidden neatly away on banks' balance sheets, stalled in foreclosure court proceedings or simply occupied by nonpaying owner...
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BEA Adjusts Second Quarter GDP Growth Rate Upward
The Bureau of Economic Analysis's (BEA) third estimate of second quarter 2011 U.S. Gross Domestic Product (GDP) was reported to be 1.34%, an upward adjustment from their previous data. The new growth number was .36% higher than the number reported ...
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U.S. August ISM Manufacturing Report on Business (Text)
U.S. August ISM Manufacturing Report on Business (Text)
QBy Editor: Alex Tanzi - Sep 1, 2011 10:19 AM ET
Following is the text of the U.S. manufacturing conditions from the Institute for Supply Management.
August Manufacturing ISM Report On Business...
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BEA Lowers Second Quarter GDP Growth Rate to Below 1%
The Bureau of Economic Analysis's (BEA) second estimate of second quarter 2011 U.S. Gross Domestic Product (GDP) was reported to be 0.98%, continuing their recent trend of revising previously reported economic growth rates down. The new growth numb...
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The BEA’s Third (and "Final") Estimate of First Quarter 2011 GDP
The Bureau of Economic Analysis (BEA) revised their estimate of the annualized growth rate of the first quarter 2011 U.S. Gross Domestic Product (GDP) up slightly to 1.92%. This is their third and final regularly scheduled estimate of the first qua...
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The BEA’s Second Estimate of First Quarter 2011 GDP
The Bureau of Economic Analysis (BEA) kept their estimate of the annualized growth rate of the first quarter 2011 U.S. Gross Domestic Product (GDP) essentially unchanged at 1.84%. Although the overall growth rate was essentially unchanged the compo...
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The BEA’s Third Estimate of Fourth Quarter 2010 GDP
The Bureau of Economic Analysis (BEA) raised their estimate of the annualized growth rate of the fourth quarter 2010 U.S. Gross Domestic Product (GDP) from 2.79% to 3.11%, an increase of .32% and some 0.56% higher than their estimate of the third q...
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"Oil Prices Could Hit $100 a Barrel by Year’s End"
Higher energy prices sure won't be a tonic for the "resilient" American consumer, who - if he hasn't been laid off - is already struggling with stagant wages, worrying about his home being worth less than the mortgage, and attempting to repay some of h...
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7 Big Problems For the U.S. Economy
The Comstock boys set out seven major concerns for the economy and the stock markets. Here are the first two....click on the link to see the full commentary..
1) First and foremost is the explosion of household debt over the last 45 years, particula...
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Radio Free Wall Street 2/24/10
Russ Winter and Lee Adler unspin the ConCon data, the Lying Economic Indicators, the Case Chiller, new house sales, and the revival of a dangerous Treasury borrowing program. Also we debate homebuilder economics, and Russ talks about the problem with inventories, and the FDIC.
Not a subscriber? Click here to hear a free...
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Sour Housing Notes
The following is an excerpt from the Professional Edition Fed Report of December 23. It was also made available to Wall Street Examiner Economic Bulletins, a free email service, on December 24. You can subscribe via the form in the left sidebar. The Mortgage Bankers Association’s Mortgage Applications index announced Wednesday did a belly...
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The New Normal?
More evidence of what “green shoots” mentality brings about. Aluminum inventories, is this the new normal? Looks like a problem to me.
CNBC poll shows viewers favor Fed increasing interest rates by a 65-29 margin to support what’s left of the USD.
Speaking of dejavu all over again, please take a hour...
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They’re Manufacturing Data
There were two pieces of economic data released today. The ADP unemployment data is a prelim to the weekly unemployment claims, and is a bit of a so what. So are factory orders, but let’s take a look at it see to see if there’s any evidence of green shoots, or the latest term...
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More Little Lies and Big Spin- Gains or Blips?
The FIM (Financial Infomercial Media) has gifted us with more nonsense today in the form of Pending Homes Sales data from the NAR (Realtors) and the Purchasing Managers Manufacturing Index from the ISM (Purchasing Managers). Bloomberg was positively ecstatic about the housing data, proclaiming “The number of contracts to buy previously owned homes rose...
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Hype and Hysteria- Professional Edition Fed Report
The Fed bought another load of Treasuries today, as previously scheduled, and consistent with their behavior in past weeks. Did they help the PDs absorb this week’s mountain of supply? Of course. That’s what the Fed does. It’s part of their mandate. They’ve been doing it since time immemorial, way, way before quantitative easing...
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If These Guys are the Smart Money- Professional Edition
The more the Fed buys, the more the market offers to sell it because everyone is on the same side of the boat, long and wrong. The Fed is the only buyer in size out there. Unfortunately for the market, the Fed only trades with the Primary Dealers, and they are in desperate shape,...
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Actionable Odds and Ends
Another massive insider buying binge lead this rally. Notice the big reversal the last time this happened, so might be a good signal for the potential of the rally. Click to enlarge.
The enormous “panic” and I think unsustainable drawdown in inventories caused by depressionary conditions can be seen here.
Calculated Risk:...
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Yes, Ezra, There Is No Santa Claus
Ezra Klein asked (and answered) in the Washington Post today, “Why are the markets down today? No reason.” What would you expect him to say? He’s a mainstream media journalist, and therefore, by definition, clueless. I took a moment to answer his rhetorical question/answer with the real explanation (as I see it) in the...
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