The financial sector facilitates private sector deficit spending that helps sustain output.
Without it, the government has to increase its deficit spending to sustain output.
Bottom line, all else equal, a less effective financial sector means lower taxes.
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Moving sideways.
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| Survey | n/a |
| Actual | 0.1% |
| Prior | 1.1% |
| Revised | n/a |
| Survey | n/a |
| Actual | 2.4% |
| Prior | 2.6% |
| Revised | n/a |
Doing just fine, especially considering the financial sector is gone.
| Survey | n/a |
| Actual | 1.3% |
| Prior | 1.5% |
| Revised | n/a |
| Survey | 0.6% |
| Actual | 1.2% |
| Prior | 1.8% |
| Revised | n/a |
Up more than expected.
| Survey | 0.2% |
| Actual | 0.7% |
| Prior | 0.2% |
| Revised | n/a |
Core nudging up a touch…
| Survey | 9.3% |
| Actual | 9.8% |
| Prior | 9.2% |
| Revised | n/a |
Just a little blip up that’s starting to make the 1970s look tame.
| Survey | 3.2% |
| Actual | 3.5% |
| Prior | 3.0% |
| Revised | n/a |
Cute little break out here too.
Karim writes:
| Survey | 960K |
| Actual | 965K |
| Prior | 1066K |
| Revised | 1084K |
A bit higher than expected, and last month revised up.
Averaging out the last couple of months or so to smooth the NY situation indicates a leveling off and probably a bottom.
| Survey | 970K |
| Actual | 937K |
| Prior | 1091K |
| Revised | 1138K |
Down, but last month revised up. Same as above.
Karim writes:
| Survey | -50 |
| Actual | -49 |
| Prior | -50 |
| Revised | n/a |
very low, may be bottoming, confidence being hurt by inflation.
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Prices stabilizing as volumes increase:
SoCal home prices fall in July, sales up
by Elliot Spagat
(AP) A research firm says Southern California home prices fell 31 percent in July from last year, while the number of homes sold hit its highest level since March 2007.
MDA DataQuick said in its report Monday that the median price for new and resale homes and condos dropped to $348,000 last month in the six-county region. That’s down from the market peak of $505,000 in July 2007 and down slightly from $355,000 in June.
The report says a total of 20,329 homes and condos were sold during the month, up 13.8 percent from July 2007 and up 16.7 percent from June.
It says foreclosures accounted for 43.6 percent of all resold properties last month, up from 7.9 percent in July 2007 and a revised 41.8 percent in June.