Existing home sales continue to rise along with prices. GDP growth remains anemic despite record public and private debt and an unprecedented real estate boom.
Philadelphia Fed coincident indicators show a moderating labor market. Real estate inventory for sale is jumping. NY Fed releases data on Student Loan Debt.
Miles driven continues to fall in March. Chicago Fed Index slips .3 in April. John Hussman looks at the market and concludes its an accident waiting to happen.
Revocation of corporate charter is possible, just not for your friendly neighborhood bankster. State level unemployment rates continue to fall.
Signs of price deflation continue to increase. SF Bay Area home price jump in the last 12-months, but still have a ways to go. Philly Fed goes negative.
Despite a plethora of bad news stocks managed modest gains early. Europe’s recession hits a record 6-quarters. More evidence of a deflationary credit bust.
Import and export prices fall further during April. Consumer debt declines again in the 1st quarter yet student loan debt continues to increase
Consumer spending advances on weak fundamentals. Mortgage delinquency continues to slip despite increases in govt. backed. The Chinese economy looks shaky.
Stocks post modest gains for the week. Japan’s shock stimulas program is goosing the Dollar whilst debasing the Yen. Classic credit bust currency debasement.
Wholesale inventories rise. The MBA reports a rise in delinquent loans reversing the recent trend. Fannie Mae has nearly repaid its bailout to the taxpayers.