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They Shopped Until They Dropped-----August Consumer Spending Up 0.00%

Personal income rose 0.2% in August, as economists expected. However, consumer spending rose 0.0% vs. the Econoday Consensus estimate of 0.2%. The personal consumption expenditures (PCE) price index came in at +0.1% vs. a consensus of +0.2%. Last month...

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Durables Goods Orders Less Transportation Negative Y/Y For 20th Straight Month

Factory orders did way better than the Econoday consensus estimate of -1.9% but that was against a revision that took …

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Deutsche Bank's Monumental Mess---Merkel Says No State Aid, Depositor Bail-In Coming Up?

The €72 trillion (notional) derivatives mess known as Deutsche Bank remains under severe pressure. It’s market cap is $17.43 billion. …

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What Second Half Rebound? Q3 &Q4 GDP Estimates Now In Freefall

GDP estimates for third and fourth quarter are now in a free-fall. Last Friday the FRBNY Nowcast was in a …

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Most Dangerous Person On the Planet Today: Hillary Clinton

On Monday, Hillary Clinton accused Donald Trump of giving “aid and comfort” to Islamic terrorists, and that terrorists use his …

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The Keynesian Deflation Humbug-----A Reality Check

Surprise, surprise, surprise. Following a string of unexpectedly poor economic reports, GDP estimates for third quarter are slowing ratcheting lower. …

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Speculative Financing in Technology Companies Strikes Again

The last bubble is seldom reblown, but what about bubbles twice removed? In what seems like a reply of 2000, …

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Hillary Strangelove----Flashback To 2008 And War You Can Believe In

A reader sent me an image of Hillary imposed with images of Peter Sellers from the movie Mysterious Doctor Strangelove. …

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Auto Collision Ahead: Motor Vehicle Production +0.5%, Motor Vehicle Sales -4.4% Year-Over-Year

In the third poor economic report today, we learned industrial production declined 0.4% vs. an Econoday Consensus of -0.2%. Diving …

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Book Review of David Stockman’s “Trumped! A Nation on the Brink Ruin”

Dave Stockman released his latest book “Trumped! A Nation on Brink of a Ruin” on Monday. I read an advance …

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