Spring housing flop: Existing home sales decline 2.3 percent, inventory issues persist

Spring housing flop: Existing home sales decline 2.3 percent, inventory issues persist

By Mike “Mish” Shedlock The widely expected Spring housing acceleration has turned into a big flop. Yesterday, the Census Bureau reported new home sales declined 11.4% in April. Today, the National  Association of Realtors (NAR) reports existing home sales declined 2.3%. The Econoday consensus estimate for existing home sales was 5.650 million seasonally adjusted annualized […]

Wine, art, and Ferraris: The bubble in luxury goods

Wine, art, and Ferraris: The bubble in luxury goods

By Mark Thornton / Mises Wire The Bernanke-Yellen bubble is impacting many sectors of the economy. Agriculture land, motor vehicles and auto loans, banking, bonds, contemporary art, corporate stocks, higher education and student loans, mergers and acquisitions, ocean shipping and cruise lines, social media, technology, housing, real estate, and land markets have been noticeably affected. […]

Beware of Orwell’s ‘Enlightened Class’: Know them by their fruit

Beware of Orwell’s ‘Enlightened Class’: Know them by their fruit

From Technocracy News Orwell understood the Technocrat mind: “So ‘enlightened’ that they cannot understand the most ordinary emotions.” Today, this is the norm among would-be social engineers who think it their right or obligation to control everything and everyone in the environment. ⁃ TN Editor It’s Not What You Believe. It’s How You Believe It George […]

Fewer regulations in Washington, DC is a good starting place for reform

Fewer regulations in Washington, DC is a good starting place for reform

By Jesse Hathaway / Heartland Institute By inserting itself into the operations of businesses large and small, government makes itself a factor business owners have to consider when making virtually all their decisions. Throughout the first quarter of 2017, bureaucrats in Washington, DC issued fewer new regulations on how banks and financial institutions must do […]

Fed Reports Unexpected Collapse In Credit Card, Auto Loan Demand

Fed Reports Unexpected Collapse In Credit Card, Auto Loan Demand

From Freedom’s Phoenix … we were looking forward to the latest Fed Senior Loan officer survey for more details about changing loan dynamics within US society. What the report revealed was troubling: while on the surface, the Loan Officer Survey characterized loans to businesses as “basically unchanged” from the previous survey, it did remark that standards for […]

New home assistant/monitor tells who is in your house, and what they are doing

New home assistant/monitor tells who is in your house, and what they are doing

From Technocracy News Remembering that any device connected to the Internet can be hacked without your knowledge by criminals and governments alike, is this device worth the risk? You cannot have your cake and eat it too. ⁃ TN Editor A new smart-home assistant and security monitor can tell the difference between specific adults and spot […]

Robotic falcon will chase birds at Canadian airport

Robotic falcon will chase birds at Canadian airport

From Freedom’s Phoenix Currently, the airport uses lasers and recordings of predator bird calls to deter them. Starting in June, however, a robotic falcon known as Robird will also enter service. It will mark the first time that an airport is using the technology on a daily basis. Robird was first developed at the University […]

Auto inventories surge: How’s that going to work?

Auto inventories surge: How’s that going to work?

By Mike “Mish” Shedlock Wholesale inventories in March rose 0.2% as expected by the Econoday consensus. February was revised from 0.4% to 0.3 which will take a tick off GDP first-quarter revisions. Wholesale inventories came in at a consensus 0.2 percent increase led by a sharp build in autos, excluding which March inventories were unchanged. […]

How Amazon killed the department store

How Amazon killed the department store

From Freedom’s Phoenix At the end of April, we observed that “The Retail Bubble Has Now Burst” noting that “A Record 8,640 Stores Are Closing In 2017.” We discussed that while there are many reason for this troubling collapse of one of the anchor industries underpinning America’s economy, one stands out: the relentless growth of […]

Hartford, Conn. solicits bankruptcy proposals from law firms

Hartford, Conn. solicits bankruptcy proposals from law firms

By Mike “Mish” Shedlock Hartford, Connecticut, is on the verge of bankruptcy. It has a budget hole of $14 million this year, and a projected $65 million hole next year. The city wants $40 million from the state and concessions from unions. The state would be foolish to give Hartford a dime, and unions seldom […]

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