Still Hot, Hot, Hot! US Existing Home Sales Fall -2.4% MoM In April, But Median Price Is 14.85% YoY And Inventory For Sale Remains MIA (Fed Stimulypto Still Helping Housing Bubble)

by confoundedinterest17 US Existing Home Sales were 5.61M SAAR in April, down -2.4% from March’s -3.0% MoM reading. But median prices YoY for existing home sales printed at 14.85%, still hot, hot, hot. With 3 consecutive declines in MoM existing home sales, …

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Is China Really Still Communist?

by Martin Armstrong QUESTION:  Hello Martin – In today’s “Spread The Love”, you mention at the end that today, neither Russia or China are communist. I think the assertion that Russia is not communist is probably believable and something most …

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[Reuters] European diesel inventories at lowest since 2008. Still importing 770,000 bpd from Russia. Real potential for higher prices.

by mark000 https://www.reuters.com/business/energy/europes-russian-diesel-imports-drop-still-dominant-2022-04-27/ Cutting off Russian oil will be difficult and costly as Europe will have to compete for fuel further afield and pay higher freight costs, a trader said. “Technically, if Europe pays a $100 premium, they can get …

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T-R-O-U-B-L-E! Mortgage Purchase Applications DOWN 14% From Same Week Last Year, Refi Applications DOWN 68% (Yet Fed STILL Has Its Huge Foot On Monetary Gas Pedal) This One’s Gonna Hurt You For A Long, Long Time

by confoundedinterest17 There is one song that sums up the mortgage banking industry with proposed tightening of Fed monetary stimulypto: T-R-O-U-B-L-E. Mortgage applications decreased 5.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage …

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