Brent Nyitray
Fairlington Blade
Let the mutherfuker burn!
jnc4p
Kevin S. Willis
Michigoose
lmsinca
markinaustin
Arcanaut
novahockey
quarterback
ScottC
yellojktVital Statistics:
| Last | Change | |
| S&P futures | 3,770 | 80.50 |
| Oil (WTI) | 84.67 | -0.78 |
| 10 year government bond yield | 3.99% | |
| 30 year fixed rate mortgage | 6.98% |
Stocks are higher this morning as earnings continue to surprise on the upside. Bonds and MBS are down.
Industrial Production rose 0.4% in September, according to the Federal Reserve. July and August were revised downward. Capacity Utilization rose to 80.3%. Interestingly, construction was a big contributor to growth, increasing 1.1%. Given the anecdotal evidence we are seeing regarding a housing recession I think there is a decent chance that this might be a spurious data point, although seasonality could be at play here as well.
Builder mortgage applications fell 13% YOY in September, according to the MBA. “New home purchase activity declined in September as prospective homebuyers pulled back in response to higher mortgage rates, increased concern about an impeding recession, and a broader slowdown in home-price growth,” said Joel Kan, MBA Vice President and Deputy Chief Economist. “The average 30-year fixed mortgage rate increased almost a full percentage point in the last month, greatly reducing the purchasing power of many home shoppers. MBA’s estimate of new home sales declined 9 percent in September, partially reversing the 18 percent increase in August during that brief period when mortgage rates decreased.”
Builder confidence continues to fall, as the NAHB / Wells Fargo Housing Market Index declined to 38, half the level it was six months ago. “This will be the first year since 2011 to see a decline for single-family starts,” said NAHB Chief Economist Robert Dietz. “And given expectations for ongoing elevated interest rates due to actions by the Federal Reserve, 2023 is forecasted to see additional single-family building declines as the housing contraction continues. While some analysts have suggested that the housing market is now more ‘balanced,’ the truth is that the homeownership rate will decline in the quarters ahead as higher interest rates and ongoing elevated construction costs continue to price out a large number of prospective buyers.”
Regionally, the Northeast did the best, while the West did the worst.
Filed under: Economy |
All Things in Moderation 
Not all Democrats are clueless:
https://perfectunion.us/
https://democracycorps.com/national-surveys/winning-a-cost-of-living-election/
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They oversampled the shit out of minority voters and all they could manage was a D+3 lead?
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I think they controlled for that.
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I am not sure how you would go about doing that.
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Adjust the models when extrapolating to the country as a whole?
The fact that they know they oversampled means that they can adjust it.
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I think white people are 3/4 of the country. in the sample they are a third.
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I’ve seen this picture before and I think a lot about it. Think about why all the media people taking pics were not charged with trespassing and / or Obstructing Congress or whatever horseshit charge is du jour.
https://twitter.com/Adespicablemuf1/status/1582357510853644290
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Conserving conservatism like a muthafucka!
Dude’s a national treasure!
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I mean, that right there wins the internet.
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Neocons have always been commies who support Israel.
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French’s tweet is quintessential Bulwark/Dispatch/Jane’s Defense Weekly.
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You left out the best part in the second tweet where he cites Woodrow Wilson as the example to be emulated.
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seems like the blue checkmarks approve. but they would get mad if you called them anti-capitalists.
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It’s the cherry on top of conserving conservatism.
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Do you think they know they are being fascist? I think they have to.
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No. They think only republicans are able to be fascist.
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jnc:
You left out the best part in the second tweet where he cites Woodrow Wilson as the example to be emulated.
Frum is a joke. And clueless, citing Wilson as an example of what the government can do while in the same breath “of course” paying lip service to the Constitution. Does he know nothing about US history?
Also, of course, he fails to grasp that we are not, in fact, at war or in an emergency. What a maroon.
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Frum’s not the only one.
“America has an Elon Musk Problem
Why the billionaire’s reckless shitposting and control over public goods should concern us – and what we can do about it
Peter Juul”
https://theliberalpatriot.substack.com/p/america-has-an-elon-musk-problem
Starlink is apparently a “public good” now.
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The Post looking on the bright side:
“You can keep more money from the IRS next year, thanks to inflation”
https://www.washingtonpost.com/us-policy/2022/10/18/irs-deductions-brackets-inflation/
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Do believe housing is becsuse of “economic development” tax dollars building in cities all over the country developing soon to be Government assisted projects.
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I am not familiar with who you are?
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