The signs are everywhere for those willing to look: something has changed beneath the surface of complacent faith in permanent growth.
New home sales plunged to a seasonally-adjusted annualized rate (SAAR) of 571,000.
New Home Sales crashed in July (down a shocking 9.4% MoM compared to expectations of unchanged) following the collapse of household formations in June.
- Whalen Warns "The Crowd Of Buyers Is Thinning"
Senate Majority Leader Mitch McConnell said Monday there's "zero chance" that the debt ceiling won't be raised.
Subprime auto delinquencies have staked up so much that we are back at 2007 milestone levels.
Despite reporting strong earnings which beat on both the top and bottom line in today's most anticipated earnings report, Walmart stock is down 3%, sliding to the lowest level since late July after it provided full year EPS guidance whose midpoint wa
Construction spending for the second quarter is off to a slow start as judged by housing starts.
Following June's huge surprise jumps in Housing Starts (revised lower) and Building Permits (revised notably higher), July saw both starts and permits plunge (-4.8% and -4.1% respectively) dramatically missing expectations. The majority of the plunge
Anyone who thinks our toxic financial system is stable is delusional.
Massive money printing to restart the global economy after the financial crisis has blown an even bigger bubble.
Massive money printing to restart the global economy after the financial crisis has blown an even bigger bubble. Ten years after the last financial crisis, is the world due another one and will it be worse?
Fed Chair Janet Yellen keeps citing consumer confidence and jobs as reasons consumer spending and inflation will pick up.
The August Empire State Manufacturing Index printed at a blistering 25.2, reversing last month's plunge to 9.8, smashing expectations of a 10.0 print, and the highest print since September 2014.
Auto sales, Internet shopping fuel 0.6% gain in July retail sales
Jim Rogers says,"it would be bizarre if we didn't have a problem."
Econoday Cheers Rising Medical and Apparel Prices
While not quite as enjoyable for the average joe as consumer prices deflation, Producer Prices fell 0.1% MoM in July - the first 'deflationary impulse' since August 2016.
Cutting taxes in the manner suggested by Messrs. Gramm and Solon is highly unlikely to bring back 1980s growth rates.
The S&P 500 moved by a mere 0.16% yesterday, making it 13 straight days in which the principal stock market average has changed by less than 0.3%. We mention that because it turns out that 13 straight days of virtual flat has never occurred before in
One of the recurring themes of broad market complacency has been traders' unwillingness to price in, or even react, to surging geopolitical risk. This morning, Goldman picks up on this conundrum, with a note by Charles Himmelberg in which Goldman's c
With the following chart from Goldman's Robert Boroujerdi, we can finally close the book on whether US corporate leverage is at all time highs. It is... and it's even higher on a "normalized" basis.
Dallas Police Association President Mike Mata and others sounded the alarm months ago:
The big New York banks no longer perform the banking function of lending to consumers and businesses.
THe Fed discontinued its report on the Labor Market Index this month. The rationale makes sense and could equally apply to many reports and procedures.
Who would have expected that today's otherwise boring monthly consumer credit report would be the day's most exciting event.
Someday, stock, bond and real estate valuations will matter again. And the mechanism by which this return to sanity is achieved will probably be the torrent of money now flowing in from people who, for various reasons, don't care about (or under
Former Federal Reserve Chairman Alan Greenspan issued a bold warning Friday that the bond market is on the cusp of a collapse that also will threaten stock prices.
Stock investors are rejoicing about stock markets making new highs in many countries, totally oblivious of the risks or the reasons. It seems that this is an unstoppable rally in a "new normal" market paradigm. No major increase is expected in th
With much of the investing world preparing to take the next two weeks off for vacation right after Friday's payrolls number hits, one question being thrown around by traders is "what could possibly go wrong" in the immediate future? Answering this