Economy
MasterCard Study Says Consumer Spending Has Taken A Break
Michael McNamara, Vice President, Research and Analysis for SpendingPulse, observes Consumer Takes a Respite as Spending in Many Sectors Declines. The momentum in consumer spending that was building through the first quarter, seems to be taking a breather in the second quarter of 2010, at least so far. Financial volatility in the capital markets and [...]
Continue reading...Public Union Parasites Move To Bar California Bankruptcies
3 June 2010 – 9:48 am PDT
Comments Off
Outrageously overpaid California public union parasites have every intention of sucking the last drop of blood out every taxpayer. Regardless of the cost to taxpayers, and even though their bloated benefit programs vastly exceed what the private sector gets, nothing will get in the union’s way of protecting the overgenerous benefits they have, while still [...]
Continue reading...Extended Unemployment: Initial, Continued and Extended Unemployment Claims June 03 2010
3 June 2010 – 6:20 am PDT
Comments Off
Today’s jobless claims report showed a slight decline to initial and an increase to continued claims with a subtle flattening continuing to shape up for both series while total continued claims including federal extended benefits appear to also be flattening. Seasonally adjusted “initial†unemployment claims declined by 10,000 to 453,000 claims from last week’s revised [...]
Continue reading...Disputing the Alleged "Checkmark Recovery"
3 June 2010 – 2:00 am PDT
Comments Off
One of the silliest cases I have seen to date regarding the alleged recovery comes from James Altucher, president of Formula Capital. Altucher Says It’s Not a ‘V’, It’s Even Better, Look for New Highs by 2012 Partial Transcript Aaron Task: Joining me now is James Altucher who says, not only is the recovery not [...]
Continue reading...Dispelling the Alleged "Checkmark Recovery"
3 June 2010 – 1:54 am PDT
Comments Off
One of the silliest cases I have seen to date regarding the alleged recovery comes from James Altucher, president of Formula Capital. Altucher Says It’s Not a ‘V’, It’s Even Better, Look for New Highs by 2012 Partial Transcript Aaron Task: Joining me now is James Altucher who says, not only is the recovery not [...]
Continue reading...Auto Adulation?: Light Vehicle Sales April 2010
2 June 2010 – 4:54 pm PDT
Comments Off
Although today’s vehicle sales results are coming in generally better than expected, putting the current results together with recent historic trends should leave one with a less-than-bullish outlook for autos. Looking at the Department of Commerce light vehicle sales series you can see that although sales appear to be on a tear recently, the latest [...]
Continue reading...Arguing Supply and Demand
2 June 2010 – 1:36 pm PDT
Comments Off
Recently I got into a debate of sorts with some economist about supply and demand of single family homes. I had argued that the recent jump in inventory for existing single family homes (reported by the realtors) was not only particularly notable in light of the whopping boost in sales driven by the government’s tax [...]
Continue reading...Foreclosure Life Raft; Price Wars at Walmart; Electrical Demand Drops Two Straight Years, First Since 1949
2 June 2010 – 12:54 pm PDT
Comments Off
Citing reduced electrical demand American Electric Power will keep 10 units off line most of the year. American Electric Power Inc., one of the nation’s biggest power generators, says 10 of its smaller, coal-fired generating units will remain off line for much of the year because of lower demand for electricity. The company said the [...]
Continue reading...GM Auto Sales Rise 17% – Not as Impressive as it Sounds
2 June 2010 – 9:42 am PDT
Comments Off
V-Shaped recovery proponents are crowing about auto-sales as GM U.S. Sales Rise 17%, Topping Analysts’ Estimates. General Motors Co. posted a 17 percent increase in May U.S. sales, the first time the automaker topped analysts’ forecasts since January, as customers snapped up Chevrolet Equinox sport utility vehicles and Malibu sedans. Deliveries rose to 223,822 from [...]
Continue reading...Pending Home Sales: April 2010
2 June 2010 – 7:42 am PDT
Comments Off
Today, the National Association of Realtors (NAR) released their Pending Home Sales Report for April showing a significant 6% increase since March and a whopping 22.4% increase compared to April 2009 as buying activity ramped up in advance of the second (and final) expiration of the government housing tax gimmick that ended in April. It’s [...]
Continue reading...
3 June 2010 – 1:00 pm PDT
Comments Off