Succinct summation of week’s events:
1) Durable goods core cap ex better than expected
2) Multi family starts highest since Mar ’09, single family permits drop (we need less new ones right now)
3) German IFO highest since June ’07
4 ) Asset prices love a Fed that only knows cheap money and more of it as path to prosperity
5) Commodity prices continue higher, good global growth?
6) Stocks of South Korea, Thailand, Indonesia, India, Singapore and Philippines rise to multi year, and for Jakarta an all time high.
1) B52 Ben cleared for another takeoff, US$ index near 9 month low, commodity prices higher, gold at record high, inflation expectations rise, this can’t end well
2) Jobless Claims stay weak
3) NAHB holds at 18 mo low
4) New Home Sales a hair above 47 yr low and prices near 7 yr low
5) Single family permits drop, more drag for construction
6) Refi’s at 6 week low, purchases at 3 week low.
7) PIG debt concerns continue to grow
8) ABC confidence falls to 6 week low
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.