Real estate

Where The August Jobs Were

Having observed the quantitative aspect of today's weaker than expected previously, we look at the qualitative job additions in August where we find that, once again, the bulk of job additions went to lowest-paying jobs.

Frontrunning: September 2

  • Donald Trump Revised Immigration Speech After Mexican Leader’s Tweet (WSJ)
  • Hillary Clinton Raised $143 Million in August for Democrats and Her Campaign (NYT)
  • Putin says he doesn't know who hacked U.S. Democratic Party (Reuters)
  • Samsung issues recall for Galaxy Note 7 after battery fires (Reuters)
  • Putin Joins "OPEC Headline" Fray, Pushes For Oil Production Freeze, Iran Exemption (ZH)

The Secret Global Court: Why Corporate Criminals & Corrupt Politicians Desperately Want TPP

Obama needs to ensure he gets well compensated after leaving office for a job well done protecting, defending and further enriching the global oligarch class. This is precisely why he’s so adamant about passing the TPP during the upcoming lame duck session of Congress, when he knows “representatives” who no longer face reelection can be coerced or bribed into voting for this monumental public betrayal. The Trans-Pacific Partnership (TPP) ins’t really a free trade deal, it’s a way for global oligarchs to consolidate, grow and protect their enormous wealth. The whole thing is absolutely disgusting and epitomizes all that is wrong and unethical about the world today.

How Does It All End?

[T]he long run meets the present [where] systems that no longer pay their way exhaust their credit and go broke. The Breaking Point is a nonlinear departure on the road to nowhere. It occurs when collateral collapses, burying the public’s faith in fiat money and the institutions that create and regulate it.”

Global Stocks Rise, Metals Jump On Strong Chinese Data; Pound Surges On Record UK Mfg Spike

After a muted end to August, September started off on the strong foot overnight following a surprising beat in China's official manufacturing PMI print, which rose above 50 to the highest level in almost two years. That, together with a record rebound in the UK PMI, bolstered investor confidence, fueling gains in stocks and industrial metals. The dollar advanced against most of its peers while bonds retreated before Friday’s payrolls report.

Fear Spreads Of A Housing Crash In Canada

In Vancouver’s once white-hot commercial real estate market, the hunt is now on for Chinese buyers as big institutional investors are trying to unload.

Obama's Former Doctor Says Hillary "Should Have A Thorough Neurological Exam"

In a move that is certain to spark another round of what much of the left-of-center media has dubbed "unfounded conspiracy theories" about the health of Hillary Clinton, overnight President Obama’s former physician, Dr. David Scheiner told CNN that he believes Democratic nominee Hillary Clinton should have a neurological examination due to her history of brain injury.

This Is The "Bubbly" Chart That Keeps The Fed's Rosengren Up At Night

 “Should a large negative shock occur, firms and households would be exposed to greater losses through their holdings of riskier assets than they would be if they were not reaching for yield.... should prevailing economic conditions change in response to a large negative economic shock, commercial real estate prices could decline relatively quickly, leading to large losses at leveraged firms.”

US Home Prices Suffer 3rd Consecutive Decline For First Time Since 2012

For the first time since Feb 2012, S&P CoreLogic's 20-City Composite price index declined for 3 straight months (dropping 0.07% in August, in line with expectations). The non-seasonally-adjusted annual growth rate of home prices rose just 5.13% - the slowest since since Aug 2015. San Francisco and San Diego showed the weakest growth of the 20-City composite while Portland and Seattle rose the most MoM, and Atlanta and Chicago saw the largest declines in price MoM.