Its Non-Farm Payroll Day!
Yeah, its that god-damned time of the month again. The consensus for NFP is for 115,000, with a range of 50,000 to 147,000, according to...
There’s No Inflation (If You Ignore Facts)
First Bloomberg, now Newsweek: One of our favorite topics — inflation ex-inflation — has been slowly creeping into the...
NAR on “Temporary” Housing Problems
I almost miss David Lereah. He was the former chief economist for the National Association of Realtors (NAR), and author of many fabulous...
Exporting Inflation from China
Speaking of Inflation, you can actually see the official inflation rate of China here: Some of the actual data: Food inflation is running...
CPI Info-porn
Yesterday, we noted how the CPI has diverged from reality (CPI Inflation Data is a “Lie”). Today, I wanted to direct your...
Wheeee! New Homes Sales, Prices in Freefall
Get ready for a new round of serial bottom callers! New Home Sales data was released this morning, and it stunk up the joint. (Why are...
Bloomberg: CPI Inflation Data is a “Lie”
We have long railed against the absurdity of the CPI data. The ridiculous adjustments, the lack of correlation between CPI prices and...
Continuation of Negative Annual Returns in Housing
It seems that today is Housing day at the Big Picture: First, we looked at UK MEW; Then, we saw that great NYT chart; And, since its the...
Warnings of a Housing Crisis (in Real Time)
Great Housing chart, from an article in the Sunday NYT: courtesy of the NYT> Incidentally, not everyone was crying wolf. Some of us...
Mortgage Withdrawals Driving UK Consumer Spending, Also
We have, for several years now, highlighted the significance of Mortgage Equity Withdrawal (MEW) in the U.S. as a major source of...