Florida

Existing Home Sales Slump To 1-Year Lows, NAR Says "There's Simply Not Enough Homes For Sale"

After July's housing sales data horrors, yesterday's permits rebound prompted some hope (despite last week's 9.7% collapse in mortgage applications) but August's existing home sales just crushed that dream, dropping to one-year lows. Following a 1.3% MoM decline in July, August saw existing home sales tumble 1.7% MoM (against expectations of a 0.2% rebound) and up just 0.2% YoY.

Government By Goldman

"...now Cohn’s in charge of the economy and talking about eliminating financial reform and basically putting the country back to where it was in 2005, as if 2008 didn’t happen. I’ve started the countdown clock to the next financial crash, which will make the last one look mild."

In Florida, You Can't Use Your Own Solar Panels In A Crisis

"When I think about solar panels, its not just the use of a renewable resource I find appealing, but also the potential to take energy generation into your own hands... The latter could’ve be a lifesaver for some Florida residents recently, but a local electric utility has done everything in its power to deny its customers such freedom."

Frontrunning: September 15

  • Dollar leaps versus yen, pound at highest since Brexit result (Reuters)
  • Several hurt in 'terrorist' incident in London (Reuters)
  • North Korea Puts Guam in Range With New Missile Launch Over Japan (BBG)
  • U.N. Security Council to meet after North Korea fires another missile over Japan (Reuters)

Trump "Insists On Wall" As Part Of Immigration Deal, Will "Veto Single Payer" Healthcare

On his return trip from Florida, President Trump spoke to reporters aboard the airplane and the result was a burst of headlines, among which Trump's comments on Yellen, whom he "likes", the stock market, which is "doing very well", the border wall, which Trump will insist on as part of the immigration deal, on Iran, "we are not going to stand for what they are doing", about DACA and much more...