via Grant’s Interest Rate Observer On Monday, the Real Estate Board of Greater Vancouver reported February results that could be classified as ghastly, with residential home sales plummeting 32.8% year-over-year to 1,484 units. That’s the lowest February sales total since 1985 and …
by WARREN MOSLER Bad. All sectors decelerating and residential looking down year over year: U.S. auto sales tumbled 2.8 percent in February (Detroit News) Overall sales for the month tumbled 2.8 percent from the same month a year ago, …
By Lance Gaitan Remember back when the housing bubble burst? It happened well before the financial crisis in 2008. In fact, the air started leaking out in 2005. And it really took a blow in 2006. Back then, I tried to sell …
by WARREN MOSLER Can’t be making Tariff Man happy: Highlights The effects of cross-border trade actions have been difficult to pinpoint in the national economic data but outlines may be appearing in goods trade. The nation’s goods deficit swelled to a …
by WARREN MOSLER Chinese state company defaults offshore, first time in 20 years (FT) A Chinese state-owned enterprise from the country’s remote north-west has failed to repay a US dollar bond in Hong Kong, the first offshore default in 20 years and the …
via upfina: The stock market is at a very interesting juncture because its rally has been impenetrable despite the global economic slowdown. The 20% decline late last year probably wasn’t warranted because there are few signs America is headed for a …
🇺🇸Possibly worrying wholesale numbers. Falling sales and rising inventories. Often a precursor to slower GDP growth. pic.twitter.com/HoGyJReLEU — Mikael Sarwe (@MikaelSarwe) February 25, 2019 BUFFET: ECONOMY SEEMS FINE RIGHT NOW pic.twitter.com/FW9gskjHCE — Alastair (@StockBoardAsset) February 25, 2019 This trade deal …
Q1 EPS now expected to decline by -2.7%. Was -0.8% two weeks ago and +3.0% on Dec. 31 pic.twitter.com/tFdnp0bOux — zerohedge (@zerohedge) February 22, 2019 https://twitter.com/OccupyWisdom/status/1098791204299390978 still the "greatest economy ever"? pic.twitter.com/VQvqDQhk7G — Alastair (@StockBoardAsset) February 22, 2019
by WARREN MOSLER Asia’s exports to China plunge as economy stumbles (WSJ) Japan’s exports to China in January sank 17.4% on the year to 958.1 billion yen ($8.65 billion), accelerating from December’s 7% drop. South Korean exports to China in …
by WARREN MOSLER Japan exports hit by biggest fall in 2 years on weak China demand (Reuters) Japan’s exports fell 8.4 percent in the year to January. It was the sharpest annual decline since October 2016, and followed a revised …
by bartturner Apple overreached for sure. People followed Apple rapidly from $400 for a new phone over a few years to $800 a phone, aided by cell phone companies amortizing the costs into people’s plans over a long term. But …
by WARREN MOSLER China Total Vehicle Sales Vehicle sales in China tumbled 15.8 percent from a year earlier to 2.37 million in January 2019, following a 13 percent drop in the previous month. It was the seventh consecutive annual decrease …
via upfina: The December retail sales report was so terrible that it implies a recession is coming soon if the data is accurate. There’s always a chance the data is incorrect because these results are revised. This time there is a …
by Troy On a slow moving day for the U.S. stock market, today’s big news is that “Retail Sales crashed, just like in 2008/2009!!!”. Financial media jumped all over this – nothing sells like bad news. Go here to understand our …
by WARREN MOSLER Starting to look more like most of the rest of the world: US retail trade fell by 1.2 percent from a month earlier in December 2018, following a revised 0.1 percent growth in November and missing market …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Consumer exuberance maxed out last summer and has since changed direction. The headlines today were all about retail sales that “fell most since 2009,” or as the WSJ put it, “at Fastest Pace since 2009,” or …
https://twitter.com/OccupyWisdom/status/1096118006600683520 https://twitter.com/OccupyWisdom/status/1096114969417039873 Retail sales tumbling, as outlined in last fall's client warning of "Cooling Consumer Spending." See public comments from Jan: https://t.co/47RYgw4sg4 pic.twitter.com/iVjf88aSYo — Economic Cycle Research Institute (ECRI) (@businesscycle) February 14, 2019 the "greatest economy ever" just hit a …
Retail sales drop the most since September 2009 U.S. retail sales recorded their biggest drop in more than nine years in December as receipts fell across the board, suggesting a sharp slowdown in economic activity at the end of 2018. …
by WARREN MOSLER Trumped up expectations fading: Highlights Doubts about future economic growth diminished optimism among small business owners to the lowest level in 26 months, according to the NFIB’s Small Business Optimism Index, which fell 3.2 points in January to 101.2, below …
by WARREN MOSLER The ‘labor market’ is not a ‘fair game’ as people need to work to eat, and business only needs to hire if it likes the return prospects, so real wages should be expected to remain depressed without …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Americans love paying big profit margins for big equipment, and automakers love them for it, but total sales are declining, and something doesn’t add up. The average transaction price of the vehicles sold by Fiat Chrysler …
This is becoming a very big but undisclosed problem. Let’s just pretend that real estate is still affordable and there’s no fraud going on and that the massive debt load everyone has isn’t an issue. Sounds good, right?
This article was originally published at Zero Hedge Forget about the automobile industry turning over a new leaf for the new year: the beginning of 2019 has started just as miserably as 2018 ended for many major auto OEMs in the …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter “It’s been dripping down, down, down. Frustrating that the housing market is not recovering”: National Association of Realtors What will home sales look like in January and February? Very, very lousy, according to pending home sales, …
by WARREN MOSLER Apple says China sales fell 27% last quarter (Nikkei) Apple’s net sales in greater China, including the mainland, Hong Kong and Taiwan, fell 27% on the year to $13.17 billion for the three months ended Dec. 29 …
Look at this chart: ratio of “present situation” to “expectations” from the Conference Board confidence report. Cut-and-dry sign of a tapped-out consumer. A great leading indicator at turning points because it either coincides with the recession or occurs a few …
by Michael Snyder Apple iPhone sales are never supposed to go down. For nearly two decades, Apple has been an unbeatable economic miracle, but now it appears that times have changed. Global sales for the iPhone were disastrous during the holiday …
by Mac Slavo of SHTFplan The unusually large drop in home sales is puzzling those who work directly in the industry. Real estate agents are confused and baffled by the sudden and seemingly unexpected lack of home sales. Sales of homes plunged in …
by WARREN MOSLER Bad: Highlights Mortgage rates began to move down in December but it wasn’t soon enough to help the month’s resales. Existing home sales fell a sharper-than-expected 6.4 percent to a 4.990 million annualized rate that is the …
by Michael Snyder It appears to be more likely than ever that the U.S. economy is heading for a recession. On Tuesday, the Dow Jones Industrial Average was down 301 points as investors were rattled by several very important pieces …