Got Housing Recovery? The homeownership rate is down. New and existing home sales remain far below their 2005 peaks. Housing starts for single family homes are flat. What went wrong? For the past few years the media has trumpted a housing “recovery”. In the “False Housing Recovery of 2013” (and again in 2015), we noted … Read More →
Loss of Trust in Markets. This week’s podcast reviews the market distortions on display across the globe. Introduction 0:00-11:10 The general public and Wall Street believe that there is a recovery and the economy is doing well. Recently, however, some obvious signs of cracks in the story have emerged. Greece Events in Greece make it … Read More →
Podcast Summary 0:00-7:21 Introduction Consumer Confidence Conditioning 7:21-13:13 the recent high reading of the Michigan consumer confidence survey is discussed in the context of the media’s insistence that the economy is improving. The Gallop consumer survey, however, is down. Consumer confidence is not a good barometer for predicting future economic activity. Consumer confidence and other … Read More →
Markets can remain manipulated longer than you can remain solvent In this week’s podcast: Podcast Summary 0:00-3:28 Introduction So What if the Fed Raises Rates? 3:28-6:20 discussion of Janet Yellen’s comments about raising rates after the Fed’s June Federal Open Market Committee (FOMC) meeting. Ms. Yellen noted that a rate hike is no big deal … Read More →
A Warning to San Francisco and Silicon Valley. In this week’s podcast: San Francisco and Silicon Valley companies without profits and high valuations will crash, bringing their real estate markets and economies down with them. The Fed will strongly signal interest rate hikes claiming the economy is strengthening. The underlying reason for interest rate hikes … Read More →
The Fed Will Raise Interest Rates The Fed will raise interest rates on the pretext/false narrative that the economy is doing well. If data continues to come in negative the Fed will insist it is transitory and the economy will improve in the second half. Higher interest rates are necessary to promote U.S. Treasury Bond … Read More →
Bankruptcy in America. U.S. Individual Bankruptcy Filings have Fallen to Their Lowest Levels Since 2008. Deliquencies and percentage of consumers in collections are also declining. Yet, consumer debt is increasing. U.S. Consumer Debt at $3.3 Trillion up 29% from $2.55 trillion at the end of the Great Recession. The U.S. Consumer is Tapped Out. Individual … Read More →
Recovery Summer VII. As the U.S. economy continues to decelerate, the Fed and main stream financial media continue to insist the slow down is “transitory” and weather related. This week’s podcast discusses the absurdity of the wishful economic thinking that predominates among policy makers their media mouthpieces. Podcast Summary: 0:00-4:55 Introduction Initial Jobless Claims 4:55 … Read More →
Why The Labor Force Participation Rate is Dropping It’s not because of retiring baby boomers, but rather because people in their prime working years are dropping out of the labor force. This week’s podcast discusses the Fed’s insistence that economic recovery is just around the corner now that the bad weather is behind us and … Read More →
The Fed on the Economy The Fed labels recent economic weakness as “transitory”. This week’s podcast discusses the Fed’s insistence that economic recovery is just around the corner now that the bad weather is behind us and that interest rates will be raised one day. Podcast Summary: 0:00-2:20 Introduction Review of The Federal Reserve’s Open … Read More →
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