Thursday, August 22, 2019

If this were a booming economy this wouldn't be happening to housing starts

Current allocations to retail and institutional money funds are up 22.2% vs. the 2012-2018 average

Current allocations come to $3 trillion vs. $2.454 trillion on average 2012-2018.

Cash in institutional money funds is up big, too, to March 2010 levels

Chicken or egg: Does going to cash cause recessions?!

Foreign holdings of US Treasury securities hit $6.636 trillion in June 2019, driving down yields

Nobody asks why US debt securities are so popular.

People like Jeffrey Snider of Alhambra know why, but nobody listens to him.

The logic of thorough-going materialism: Since humans are nothing but animals, we might as well eat each other

Now that all objections to organ transplantation as a form of cannibalism have been effectively silenced, we're going all the way.

As Ann Coulter likes to say, Our new country's going to be great! 

Meanwhile benchmark revisions to the quick and dirty monthly Establishment Survey indicate 501,000 jobs have to be SUBTRACTED through March 2019

That is expected to bring down 2018 job creation to roughly 181,000 monthly instead of 223,000.

I say, so what? 223,000 monthly wasn't indicative of a jobs boom anyway.

Jobs numbers under Trump are like Trump Steaks, overcooked.

Jobless claims in today's report are lower in all three categories than a year ago

Not by much but they are, so no evidence of a reversal this week as seen previously, which would be concerning during the high season for jobs.