Econ70
At 458,000, October’s annualized new home sales were flat. In September they were 455,000 and in August a whopping 453,000. Worse, inventory actually inched up from 5.5 months to 5.6 months and actual sales in October were 37,000 up 1,000…
Elliot Eisenberg’s 2015 economic outlook published in an article on Inman News.
Abe Lincoln signed a Presidential Proclamation declaring Thanksgiving the last Thursday in November starting in 1863. After lobbying by the Retail Dry Goods Association, FDR proclaimed Thanksgiving to be next to last Thursday in November 1939/1940/1941 to lengthen the holiday…
With Q3 GDP growth just revised up to 3.9% and Q2 GDP growth at 4.6%, the last six months have been the best stretch of GDP growth in over a decade. But year-over-year growth is still just 2.4%, compensation growth…
As China’s economy slows, many are overly complacent and point to $4 trillion in foreign reserves that can always be spent to cushion any downturn. The problem is repatriating those funds would mean selling US Dollars and buying Chinese Yuan.…
The Friday File: 77% of all revenue from recorded music goes to the top 1% of bands and solo artists. The 10 best-selling tracks now generate 82% more sales than 10 years ago, while the top 10 songs receive twice…
While the rest of the planet economically cools or worse, goes into reverse, today’s data shows that the US economy is doing well. First-time weekly claims for unemployment insurance fell and are remarkably low, existing home sales rose 1.5% and…
The annual FY14 FHA audit finds that it went from having net worth of negative $1.1 billion to positive $4.8 billion and now has a capital reserve of 0.41%, or a leverage ratio of 243! Because of this “success” some…
With Q3 Japanese GDP growth coming in at -0.4%, Japan is back in recession for the third time since the end of the Great Recession. Amazingly, since the start of 2010, Japan has been in recession 47% of the time…
President Obama’s looming decision to grant amnesty to millions of illegals via Executive Order following a political drubbing is incomprehensible. It suggests Obama believes he can’t pass immigration reform through legislation, and is willing to deprive the next president the…