• Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.
  • Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.

Census Bureau

Tyler Durden's picture

This Is Where America's Runaway Inflation Is Hiding





Deflation, deflation everywhere... except for those 43 million Americans who are being slammed with rent inflation soaring at just over 8% every year, the highest on record.

 
Tyler Durden's picture

Hillary Will Be The Least Of Your Worries - America Has Economic Diarrhea





According to the National Bureau of Economic Research (NBER), the official recession arbiter, the US economy is currently at its fourth longest expansion in history. By the sheer nature of a capitalistic society with its inherent cyclicality it is a safe bet that a new economic recession will hit in the not too distant future. We have argued since June last year that the next recession is imminent and we now feel increasingly confident that our prediction will come true before November’s Presidential Election. Even mainstream forecasters seem to jump on the increasingly likely recession-bandwagon.

 
Tyler Durden's picture

Atlanta Fed Boosts GDP Forecast Following Today's Durable Goods Miss And Downward Revision





If there was some confusion why the Atlanta Fed recently revised its GDP Nowcast higher following the recent retail sales miss, that confusion will be even more acute today when moments ago the Atlanta Fed plugged today's weaker than expected durable goods print (and downward revision to past month's data), and ended up with... a GDP forecast that was higher than previously, or an increase from 0.3% to 0.4%.

 
Tyler Durden's picture

Jim Grant: "Make America Solvent Again"





$13,903,107,629,266. Can the nation afford this much debt? This much we have learned about debt after 40 years of writing and study: It is better not to incur it. Once it is incurred, it is better to pay it off. America, we have a problem.

 
Tyler Durden's picture

Peter Schiff Slams Managers' "Denial... And Mindless Optimism"





The Winter of 2015-2016, which came to an end a few weeks ago, has been officially designated as the mildest in the U.S. in 121 years according to NOAA. While this fact will certainly add a major talking point in the global warming debate, it should also be front and center in the current economic discussion. The fact that it isn’t is testament to the blatantly self-serving manner in which economic cheerleaders blame the weather when it’s convenient, but ignore it when it’s not.

 
Tyler Durden's picture

April Retail Sales Plunge Most Since 2005





Something ugly this way comes. As we noted last week, despite proclamations that any weakness in US spending or economic data is merely seasonal or transitory, BofA's credit and debit card spending data revealed that sales were notably weak. Today we get further confirmation of what Retail ETF investors have been seeing for a while as Johnson-Redbook reported a 2.8% plunge in Same-Store-Sales - the worst start to an April since 2005.

 
Tyler Durden's picture

19 Signs That American Families Are Being Economically Destroyed





The systematic destruction of the American way of life is happening all around us, and yet most people have no idea what is happening.

 
Tyler Durden's picture

Earnings Implosion Looms Amid The Illusion Of "Permanent Liquidity"





The problem with forward earnings estimates is that they consistently overestimate reality by roughly 33% historically. The illusion of“permanent liquidity,” and the belief of sustained economic growth, despite slowing in China, Japan, and the Eurozone, has emboldened analysts to continue push estimates of corporate profit growth higher. Even now, as the earnings recession deepens, hopes of a sharp rebound in profitability remains ebullient despite the lack of any signs of economic re-acceleration.

 
Tyler Durden's picture

Department Of Education - Our Work Here Is Done





It appears a few children were left behind...

 
Tyler Durden's picture

Consumer Spending Falls Again In March According To Latest Credit Card Data





While big banks blame the collapse in Q1 GDP on "residual seasonality" (more on that later), with BofA recently slashing its Q1 estimate from as much as 2.7% to just 0.2%, the reality is that something is not well with the US consumer. The latest proof of this comes from the most recent Bank of America credit and debt card spending data, which reveals that sales were once again down 0.1% yoy.

 
Tyler Durden's picture

Atlanta Fed Q1 GDP Estimate Crashes To 0.4%





Following this morning's disappointing trade data (but... but... surveys showed that the workers in the service sector are more optimistic... just ignore the actual hard data) we asked if today's Atlanta Fed GDP update would be above or below 0.3%: 'Atlanta Fed Q1 GDP update today: over/under on 0.3%."  Moments ago we got the answer: "The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2016 is 0.4 percent on April 5, down from 0.7 percent on April 1"

 
Tyler Durden's picture

Q1 GDP To Be Revised Even Lower After February Trade Deficit Grows More Than Expected





As of this moment, the Atlanta Fed calculates Q1 GDP to be -0.7% (Bank of America has it at 0.6%). We expect this number to be promptly revised even lower following the latest disappointing trade data from the US, when moments ago the BEA reported that the US February deficit rose from $45.9BN to $47.1BN, missing the $46.2BN consensus estimate. This was the largest monthly deficit since August 2015's $50.5BN, and the number is likely only going to increase as the US is once again forced to start importing more oil with its own shale industry increasingly mothballed.

 
Gold Money's picture

Rebutting Matt O'Brien's and the Washington Post's Misguided Attack on Gold





It is our mission to rebut any mainstream article that spreads misinformation about gold and/or shows a gross misunderstanding of monetary history. Matt O’Brien argues in the Washington Post that a “gold-backed dollar would have been a much more volatile one” and that “[gold]…has nothing to do with the price of food or housing.“ We show in a few simple charts why Matt O’Brien’s arguments are misguided, misinformed and just plain wrong.

 
Tyler Durden's picture

U.S. Lifted The Crude Oil Export Ban, And Exports Went... Down





Just over three months after the authorities lifted the four-decade ban on crude oil exports, the U.S. has actually exported less this year than it did over the same period the year before, when the ban was still in place.

 
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