Deficit Archive

Auto sales, Deficit news, Budget news, Germany news, Japan news

Looks like a weak start for 2017: From WardsAuto: Forecast: January Forecast Calls for Low Sales, High Inventory The U.S. automotive industry is expected to a have a slow start in the new year, with January light-vehicle sales down 4.4% from like-2016. … The resulting seasonally adjusted annual rate is 17.0 million ...Read More

Retail hiring, Alaska

November Retail Hiring Falls To 4-Year Low – 5% Fewer Than One Year Ago As it says, Alaska is not alone, as spending cuts and tax increases due to the oil price collapse continue into next year: Alaska governor proposes first income tax in 35 years Dec 9 (AP) — Alaska Gov. ...Read More

Mtg Purchase Apps, Saudi Pricing History, China

So much for housing leading the way up- looks to have gone from flat to down: MBA Mortgage Applications For the most part Saudis have been lowering premiums and increasing discounts which causes prices to fall to get their sales up to their pumping capacity: Not without a bit of pain, which ...Read More

Oil Prices, RT Interview, Revenue Misses

No letup yet as Saudi discounts continue: My RT interview on the price of oil here. Seems suddenly everyone is missing on revenues? Total sales (less inventory draw down)= GDP AT&T warns of revenue miss in Q3 ...Read More

Mtg Purchase Apps, Arch. Billings, Japan Exports, Bernie Article

After the up and down in front of the change in regulations new purchase apps are, so far, lower than before: Fits with the permit spike/decline story, and there was also this note: The multi-family residential market was negative for the eighth consecutive month – and this might be indicating a slowdown ...Read More

Producer Prices, Retail sales, Business inventories, Atlanta Fed, Debt Ceiling Comment

Gives the Fed another dovish data point: PPI-FD Highlights Producer prices show wide weakness and may raise talk that deflationary pressures are building, not easing. The PPI-FD fell 0.5 percent in September which is just below Econoday’s low estimate for minus 0.4. Year-on-year, producer prices are falling deeper into the negative column ...Read More

China trade, WRKO interview

Total trade is down, but the surplus is still high and holding, which ultimately supports the currency: China : Merchandise Trade Balance Highlights Every month China’s trade data are reported in both the renminbi and U.S. dollars by the National Bureau of Statistics. The renminbi report comes out first, followed about an ...Read More

Mtg purchase applications, UK industrial production, Saudi visit, US budget deficit

Purchase apps came in 41% higher than a year ago, but have been going nowhere for several months and now look to be drifting lower, as in any case they remain at seriously depressed levels: MBA Mortgage Applications Highlights After jumping 17.0 percent in the prior week on a rate-related surge in ...Read More

Krugman on debt

Debt Is Good By Paul Krugman Aug 21 (NYT) — Rand Paul said something funny the other day. No, really — although of course it wasn’t intentional. On his Twitter account he decried the irresponsibility of American fiscal policy, declaring, “The last time the United States was debt free was 1835.” Which ...Read More

Federal Deficit below last year

The budget deficit is now looking too small to sustain growth, as evidenced by the incoming data over the last 6 months. The problem is, as always, unspent income- aka demand leakages- must be offset by agents spending more than their incomes or the output goes unsold. And collapsing GDP growth and ...Read More