Retail Sales (ex autos) Still Weak pic.twitter.com/0IUcFEEU1H
— Alastair Williamson (@StockBoardAsset) August 16, 2017
And the reflation trade rolls over… Ouch!… $SPX levitates stabilizer funds got it pic.twitter.com/2LZZNS8Sun
— Alastair Williamson (@StockBoardAsset) August 16, 2017
A U T O B U B B L E in #Baltimore pic.twitter.com/V3lPCGSsru
— Alastair Williamson (@StockBoardAsset) August 16, 2017
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 is driven by multi-family starts crashing 35.2% YoY to its lowest since Sept 2016.
Permits’ 7.4% June surge was revised up to a 9.2% spike (the biggest since Nov 2015) before July’s plunge.
Multi-Family Starts plunged to the lowest levels since September 2016…
www.zerohedge.com/news/2017-08-16/housing-recovery-false-alarm-starts-permits-plunge-july-rental-units-collapse
A CORRECTION IS ALREADY UNDER WAY
via Eric Parnell, CFA
- The headline U.S. stock market remains within striking distance of new all-time highs.
- Yet a correction is already underway under the market surface.
- Stocks currently have a “big” problem.
Many investors have been contemplating the potential for a U.S. stock market correction starting some time over the next couple of months after what has been a remarkable year to date. Whether such a pullback on the headline benchmarks actually comes to pass remains to be seen. But in many respects, a correction in U.S. stocks has already been underway for nearly a month now.
stockboardasset.com/insights-and-research/correction-already-way/
Don't be shocked if consumers run out of spending money t.co/EVCKXFy6Ow pic.twitter.com/tgw4bCJibv
— Bloomberg (@business) August 16, 2017
American consumers are spending more money on goods. That’s making people on Wall Street happy because such purchases account for about 70 percent of the U.S. economy.
But before anyone gets too enthusiastic about the buying spree, it’s becoming increasingly clear that consumers are running out of steam to carry the load of U.S. economic growth.
On Tuesday, the Commerce Department reported that U.S. consumers boosted their July retail spending by the most this year. Analysts cheered, with some seeing less chance of a recession. Yet after a closer look, it appears that consumers are straining their finances to buy more makeup, baseball bats, couches and home-improvement supplies.
For one, they’re packing on more debt. Households increased their borrowing over the past year at the fastest pace of the economic expansion, according to data published Tuesday by the Federal Reserve Bank of New York. They now have the greatest amount of debt on record, at $12.8 trillion, a $552 billion increase from a year ago.
www.bloomberg.com/news/articles/2017-08-16/don-t-be-shocked-if-consumers-run-out-of-spending-cash?cmpid=socialflow-twitter-business&utm_content=business&utm_campaign=socialflow-organic&utm_source=twitter&utm_medium=social
China’s debt boom could lead to financial crisis, IMF warns
BOJ could overtake ECB as world’s largest central bank
Sovereign debt has a pretty poor record
One major way US credit card debt is getting worse
Brazil softens budget deficit goals through 2020
Brazil’s government set a new primary deficit target for this year and next of 159 billion reais ($49.7 billion), up from 139 billion reais this year and 129 billion ..
ECB weakens Italy doom loop by bending bond rules
How CPS new CPS budget will affect local schools
PIMCO Alerts Investors on Stocks, Says “Change Is Coming”
Aug 16 – For the first time in years, PIMCO is suggesting caution on the markets. With over a trillion of assets under management and millions of investors worldwide, FS Insider spoke with Anmol Sinha, a vice president and strategist at PIMCO’s…
Biiiiig ‘viral’ video and talk I came across the other day….
On the best way to reheat pizza.
Can’t wait until the ‘talk’ is about the last time anyone even SAW a pizza…..and having trouble remembering when they had their last real meal.
Couldn’t happen to a nicer place than the ‘good ‘ol USA’.
https://uploads.disquscdn.com/images/3c568ddbb2217097155047be206b97d59b9b5205748dcdf27743b9bee634bcea.jpg
We’re boycotting the Jewish mafia banks, “the fed”. No more bank loans, no more credit cards, no more holiday spending, just staunch opposition to Jewish communism in the US:
“Deficit spending is simply a scheme for the confiscation of wealth.” Alan Greenspan
We like our wealth and are keeping our wealth.