Existing Home sales fell -3.2% in June to a 5.39 million annual rate, which is -1.6% lower than the year-ago rate. This was despite a -1.4% monthly decline in the median price, at $244,100.
The FHFA House Price Index rose 0.2% in June, and is 5.6% higher than a year ago.
The MBA reports that mortgage applications fell -2.1% last week, with purchases down -0.3% and refis down -3.0%.
New home sales rose 12.4% in July, to a 654,000 annual rate.
The Richmond Fed Manufacturing Index fell from 10 to -11 in August.
The PMI Manufacturing Index Flash fell from 52.9 to 52.1 in August.
Redbook reports that last week’s retail sales growth was unchanged from the previous week at a very weak 0.2%% on a year-ago basis.
Our Guest, Jim Lakely from the Heartland Institute comes on to talk about Climate Change, but we manage to depress him before he leaves with our cheery worldview. Dick Trickle is Dale’s hero. Ryan Lochte appears to be a douchebag, but then, so does the IOC. BTW, Obamacare sucks.
This week’s podcast is up on the Podcast page.
Heh – big hullabaloo, American gold medal winning swimmer tells a lie.
Ryan Lochte – “champion swimmer caught in a rip-tide of self absorption”, ” telling a fraudulent tale late night robbery”, facing indictment for fraudulent police reports. “The behavior of these athletes is not acceptable, nor does it represent the values of Team USA or the conduct of the vast majority of its members,”
“August 5th, 2016 – Total nonfarm payroll employment rose by 255,000 in July, and the unemployment rate was unchanged at 4.9 percent, the U.S. Bureau of Labor Statistics reported today.” – Employment Situation Summary from the U.S. Bureau of Labor Statistics.
“I’m going to say this again: I did not have sexual relations with that woman, Miss Lewinsky.” – William Jefferson Clinton, 42nd President of the United States.
– “If you like the plan you have, you can keep it. If you like the doctor you have, you can keep your doctor, too. The only change you’ll see are falling costs as our reforms take hold.” – Barack Hussein Obama, President of the United States
– “We do not pay ransom for hostages. We didn’t here and we won’t in the future.” – Barack Hussein Obama, President of the United States, Iran cash payment of $400,000,000 dollars. (Cash, small unmarked bills please….)
“Private Email server” “30,000 personal emails were deleted” “server was allowed and no permission was needed“- Hillary Rodham Clinton, Former United States Secretary of State, Democrat candidate for President.
“I remember landing under sniper fire. There was supposed to be some kind of a greeting ceremony at the airport, but instead we just ran with our heads down to get into the vehicles to get to our base.” Hillary Clinton, Bosnia visit.
“Some have sought to justify this vicious behavior as a response to inflammatory material posted on the Internet. The United States deplores any intentional effort to denigrate the religious beliefs of others. ” – Hillary Clinton – Benghazi embassy attack
“Extremists and terrorists used this as an excuse to attack a variety of our embassies, including the consulate in Libya. As offensive as this video was and, obviously, we’ve denounced it and the United States government had nothing to do with it. That’s never an excuse for violence.” – Barack Obama – Benghazi embassy attack
“I’m proud of my Native American heritage” – Senator Elizabeth Warren, Massachusetts
“Apparently, lawyers, somewhere in the halls of the Justice Department whose identities are unknown to this Court, decided unilaterally that the conduct of the DHS in granting three-year DACA renewals . . . was immaterial and irrelevant to this lawsuit and that the DOJ could therefore just ignore it. Then, for whatever reason, the Justice Department trial lawyers appearing in this Court chose not to tell the truth about this DHS activity. The first decision was certainly unsupportable, but the subsequent decision to hide it from the Court was unethical.” – State of Texas vs United States of America – DACA
“I did see President Clinton at the Phoenix airport as he was leaving and spoke to myself and my husband on the plane, our conversation was a great deal about grandchildren, it was primarily social about our travels and he mentioned golf he played in Phoenix.” – Loretta Lynch, Attorney General of the United States concerning a ‘chance’ meeting with Bill Clinton the day before Hillary Clinton Email server investigation is concluded.
eh, I’ll stop there, there’s more than enough left unmentioned to fill Hillary’s completely ethical and legal email server disks to overflowing.
So, what’s the problem with Lochte and his behavior? Why the big deal?
I’m assuming Lochte is just getting some street cred and experience for an eventual run for political office as a member of the Democratic party sometime in the future.
and I’m assuming whatever he runs for, he’ll get elected.
The Philadelphia Fed survey went positive, rising from-2.9 to 2.0 in August.
The Conference Board’s Index of Leading Indicators for August rose 0.4%.
Initial weekly jobless claims fell 4,000 to 262,000. The 4-week average rose 2,500 to 265,250. Continuing claims rose 15,000 to 2.175 million.
The Bloomberg Consumer Comfort Index rose 1.8 points to 43.6 in the latest week.
The Fed’s balance sheet fell $-2.5 billion last week, with total assets of $4.467 trillion. Reserve bank credit rose $10.4 billion.
The Fed reports that M2 money supply rose by $5.6 billion in the latest week.
Consumer prices were unchanged in July, though prices less food and energy, the so-called “core rate”, rose 0.1%. On a year-over-year basis, the CPI is up 0.8% overall, and 2.2% at the core.
Housing starts rose a strong 2.1% to an annualized 1.211 million rate in July. Permits were weaker, at a 1.152 million rate.
The Fed reports that industrial production to 0.7% in July, while capacity utilization in the nation’s factories rose 0.5% to 75.9%.
E-commerce retail sales rose 4.5% in the 2nd Quarter, and are up 15.8% on a year-over-year basis.
Redbook reports that last week’s retail sales growth fell to a very weak 0.2% on a year-ago basis, from the previous week’s 0.5%.
The Treasury reports that foreign demand for long-term US fell from an inflow of $41.1 billion to a $-3.6 billion outflow in June. Foreigners bought US securities only lightly ($7.6B), while US investors were relatively heavy buyers ($11.2B) of foreign securities.
The Housing Market Index rose 1 point to 60 in August.
The Empire State Manufacturing Survey fell back into negative territory again, falling from 0.55 to -4.21 in August.
70s TV shows were full of amusing racism. Donald Trump needs to go away for a week, to let people realize how much they dislike Hillary Clinton. Vladimir Putin is a cagey SOB. Turkey’s Erdogan is just an SOB. We don’t win any more.
This week’s podcast is up on the Podcast page.