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Category: economy

Spring Buying Season Goes Bust As Existing Home Sales Fall Again

May 22, 2025May 23, 2025

Surprise! Existing US home sales fell last month, according to Thursday’s update from the recognized

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1 Comment on Spring Buying Season Goes Bust As Existing Home Sales Fall Again

The US Economy’s Fine. But Businesses Hate The Tariffs

May 22, 2025May 23, 2025

Breaking news: The US economy’s fine. More or less. That was the message from preliminary

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1 Comment on The US Economy’s Fine. But Businesses Hate The Tariffs

US Home Prices Just… Fell?

May 20, 2025May 21, 2025

Don’t look now, but US home prices just fell. I realize that might elicit some

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3 Comments on US Home Prices Just… Fell?

Bad Vibes, Impending Gloom

May 20, 2025May 21, 2025

A couple of days ago, in “Anomaly,” I noted that the so-called “vibecession” which defined

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5 Comments on Bad Vibes, Impending Gloom

Man Of Destiny

May 19, 2025May 20, 2025

One obvious read-across from the US-China trade “truce” is less urgency in Beijing to implement

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6 Comments on Man Of Destiny

Slow Week

May 18, 2025May 19, 2025

Steel yourself. This could be a tediously slow week on the macro front. The data

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9 Comments on Slow Week

Just When You Thought Americans Couldn’t Get More Depressed…

May 16, 2025May 18, 2025

Gosh. It was worse than I expected. Considerably worse, actually. Last weekend, while previewing this

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1 Comment on Just When You Thought Americans Couldn’t Get More Depressed…

Homebuilder Sentiment Crashes Anew As Tariffs, Lackluster Spring Weigh

May 15, 2025May 16, 2025

Yuck. That’s one word to describe Thursday’s update on US homebuilder sentiment. I suppose no

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A Wholesale Decline

May 15, 2025May 16, 2025

If you were looking for more good news — however fleeting it might prove —

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2 Comments on A Wholesale Decline

Key Retail Sales Metric Slips As Walmart Warns On Price Hikes

May 15, 2025May 16, 2025

US retail sales came up short where it counted on a day when Walmart warned

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US Home-Buying Season ‘Stunted’ By Intractable Affordability Crisis

May 14, 2025May 15, 2025

If you’re wondering — or perhaps I should say in case you had any doubts

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Core Inflation Comes In Cool Again, As Good News Accumulates

May 13, 2025May 14, 2025

Good news. More of it. Core inflation in the US ran cooler than expected in

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Tell That To Rain Man

May 12, 2025May 13, 2025

Late last week, I wondered if maybe — just maybe — the trade charade was

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9 Comments on Tell That To Rain Man

Old News

May 11, 2025May 12, 2025

For whatever it’s worth to you in the context of a hopelessly indeterminate US macro

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2 Comments on Old News

As Productivity Falters, Economists Ponder A.I. Devil’s Bargain

May 9, 2025May 12, 2025

Before Donald Trump’s trade war gave it the Dusko Markovic shove, AI was the only

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10 Comments on As Productivity Falters, Economists Ponder A.I. Devil’s Bargain

Why Tariffs Have To Fall

May 9, 2025May 10, 2025

An under-appreciated potential side effect of the Trump administration’s determination to eliminate America’s trade deficit

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3 Comments on Why Tariffs Have To Fall

China’s Export Beat Shows Trump Playing Whac-A-Mole. Again.

May 9, 2025May 11, 2025

China’s export machine was supposed to slow in April, and it did. But not nearly

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7 Comments on China’s Export Beat Shows Trump Playing Whac-A-Mole. Again.

‘Liberation Day’ Piled More Stress On American Families, Fed Survey Shows

May 8, 2025May 9, 2025

The results are in, and the reviews aren’t great. The New York Fed on Thursday

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Arguing With A Wall

May 7, 2025May 8, 2025

Maybe I was wrong. That’s happened once or twice. Three times even. Four at most.

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8 Comments on Arguing With A Wall

‘What To Talk About’

May 7, 2025May 8, 2025

High-stakes negotiations between the world’s two superpowers in Switzerland. Big league drama. Serious faces. Solemn

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14 Comments on ‘What To Talk About’

Straw Men Versus Barbie Dolls

May 6, 2025May 7, 2025

Donald Trump stumbled into another meme last week when, during a cabinet meeting, he played

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10 Comments on Straw Men Versus Barbie Dolls

US Services Sector Holds Up. But The Storm’s Comin’

May 5, 2025May 6, 2025

Good news, bad news. Which do you want first? I’ll break with precedent and start

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2 Comments on US Services Sector Holds Up. But The Storm’s Comin’

Jobs Report Comes Up Roses In Boon To Trump

May 2, 2025May 5, 2025

If you were expecting something dramatic — something exciting — from Friday’s US jobs report,

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8 Comments on Jobs Report Comes Up Roses In Boon To Trump

American Manufacturers Unconvinced Tariffs Good For Business

May 1, 2025May 2, 2025

Could’ve been worse. That’s how I’d describe Thursday’s update on the marquee gauge of US

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2 Comments on American Manufacturers Unconvinced Tariffs Good For Business

You’re Fired

May 1, 2025May 2, 2025

The good news is, US job cut announcements plunged in April. The bad news is,

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12 Comments on You’re Fired

Stagflation-Lite Is Here

April 30, 2025May 1, 2025

The US economy shrank during the first three months of America’s new “golden age.” And

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13 Comments on Stagflation-Lite Is Here

Contract Signings Surge In Mercurial US Housing Market

April 30, 2025May 1, 2025

They’re buying houses all of a sudden! Or at least signing contracts to buy houses.

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Recent Comments

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Monthly Letters

Dope

May 3, 2025May 9, 2025

The Great Depression

March 31, 2025March 31, 2025

The Devil’s Greatest Trick

March 1, 2025March 12, 2025

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