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While the government and mainstream media keep telling us, “The economy is improving, the economy is improving!” we keep getting news like this from the New York Times: With a hint at what may be in store for shoppers this holiday season, Macy’s cut its profit outlook and CEO Terry Lundgren said markdowns are likely […]
The mainstream media trumpeted the latest data on housing starts as good news for the economy, but there is a dark side they aren’t talking much about. Reuters reports housing starts rose more than expected in September, driven by high demand for rental units. Groundbreaking increased 6.5% to a seasonally adjusted annual pace of 1.21 […]
Wal-Mart’s problems may well reflect deeper issues in the US economy. The giant retailer announced Wednesday that profits could drop as much a 12% in the next year. It’s stock plummeted 10% on the news. Company officials also warned they now expect sales growth for the current fiscal year to be flat. In February, the […]
If the Federal Reserve is truly “data dependent,” then the data just keeps undermining its case for an interest rate hike this year. Wholesale inventories rose in August, and sales fell, flashing a recessionary warning sign. According to the Associated Press, the Commerce Department reported wholesale inventories rose 0.1% in August, while sales fell a […]
Goldman Sachs officials are ready to push back their rate hike forecast to late 2016. As Bloomberg reported, they are hedging their bets on a December rate hike (probably to save face): Goldman Sachs Group Inc. said there’s a chance U.S. policy makers will delay raising interest rates well into next year. While Goldman Sachs’s […]
Every week, various government agencies trot out economic facts and figures, and every week, the media breathlessly reports the “good news.” Here is some of the news beyond the news reported by the mainstream media over the last week. As USA Today reported, consumer spending and personal income rose last month. But while Commerce Department […]
With many mining companies in the red, analysts expect gold production to drop for the first time since 2008. According to a Bloomberg report, the anticipated drop in production follows a global surge. Gold output jumped 24% in a decade to a record 3,114 metric tons in 2014, according to data from industry researcher GFMS.
Thus far, the so-called economic recovery has done little to improve the lives of everyday Americans. In yet another sign that the recovery is an illusion, figures released last week and reported by Reuters show American’s household income lost ground last year. The data released by the U.S. Census Bureau on Wednesday, which showed the […]
At the end of 2014, the New York Fed reported a surprisingly high delinquency rate for student loans – 11.3%. Now the latest data released by the White House reveals that number may in fact be dramatically higher. As the Wall Street Journal reports: New figures covering more than 3,700 schools were released as part […]
Yesterday, the Arms Index (TRIN) spiked dramatically to levels not seen since 2011 and nearly twice as high as last week’s “Black Monday.” The Arms Index is a way of measuring how balanced the stock market is, with higher values suggesting the market might head in a bearish direction sooner than later. As ZeroHedge describes […]
