Economic Reports 07/18/07
Summary: The housing debacle worsens as May starts revised down for a 3.43% decline...
Worse yet, June permits plunge 7.5%, YTD a 30% decline. We are about to discover the economic effect of building 500K less new homes.
The CPI increasing at all levels as stagflation rages out of control.
Witness, non durable consumables ex food & clothing are up almost 33% in the last 90 days. Read on if you can handle the truth...
Housing Starts Jun +2.3% to 1.467M vs prior 1.434M Full Report
Inside the number: Prior revised DOWN from 1.474M making May decline -3.43%. YOY Total Starts -19.4%; YTD -26%. SFR Starts -0.2%; YOY -21.6%.
YTD SFR -27.5%; NE -18.6%; MW -31.2%; S -26.5%; W -29.9%
Building Permits -7.5% to 1.406M vs prior 1.520M; YOY -25.2%; SFR Permits -4.1%.
YOY SFR -27.5%; NE -14.9%; MW -18.1%; S -30.3%; W -30.7%.
YTD SFR -29.1%; NE -23%; MW -28.9%; S -29.8%; W -29.5%
CPI Jun +0.2% vs prior 0.7% Full Report
Inside the number: Mythical Core CPI Jun +0.2% vs prior +0.1%.
Compound annual rate % increase for the 3 months ended June 07 CPI-W:
Energy +34.7%; Transportation +18.6%; Food +5.2%; Medical +3.7%; Housing +2.4%.
How about the 6 months ended in June or YTD 07 CPI-U?
Energy +27.8%; Transportation +12.3%; Food +6.2%; Medical +4.7%; Housing +3.2% and drum roll please... Energy Commodities +48.3%.
Did you notice that energy & transportation are accelerating in the last 3 months?
What do you think will happen to the other items as these costs get passed on in the supply chain?
The Double Digit Inflationary Smokin Gun from Table 5 CPI-W
3 months ended June 07: Non durables less food, beverages & apparel +32.3%. Alright how about less food & apparel? +31.9%.
Thats right folks, excluding food & clothing, (a guys gotta have a drink ya know) your non durable consumables have gone up almost 33% in the last 3 months.
Looking at the other items in this column makes one shudder: Meats, Poultry, Fish & Eggs +10.2%; Dairy +15.3%; Durables -1.5%; Apparel -3.9%; PC's -11.7%
Does anyone in their right mind want to claim?
A. Inflation is tame and under double digits B. The hedonically adjusted government inflation statistics have a semblance to reality.
Alex, I'll take shills, cons, liars & expectation management for $500. Answer: What is the Fed?
Worse yet, June permits plunge 7.5%, YTD a 30% decline. We are about to discover the economic effect of building 500K less new homes.
The CPI increasing at all levels as stagflation rages out of control.
Witness, non durable consumables ex food & clothing are up almost 33% in the last 90 days. Read on if you can handle the truth...
Housing Starts Jun +2.3% to 1.467M vs prior 1.434M Full Report
Inside the number: Prior revised DOWN from 1.474M making May decline -3.43%. YOY Total Starts -19.4%; YTD -26%. SFR Starts -0.2%; YOY -21.6%.
YTD SFR -27.5%; NE -18.6%; MW -31.2%; S -26.5%; W -29.9%
Building Permits -7.5% to 1.406M vs prior 1.520M; YOY -25.2%; SFR Permits -4.1%.
YOY SFR -27.5%; NE -14.9%; MW -18.1%; S -30.3%; W -30.7%.
YTD SFR -29.1%; NE -23%; MW -28.9%; S -29.8%; W -29.5%
CPI Jun +0.2% vs prior 0.7% Full Report
Inside the number: Mythical Core CPI Jun +0.2% vs prior +0.1%.
Compound annual rate % increase for the 3 months ended June 07 CPI-W:
Energy +34.7%; Transportation +18.6%; Food +5.2%; Medical +3.7%; Housing +2.4%.
How about the 6 months ended in June or YTD 07 CPI-U?
Energy +27.8%; Transportation +12.3%; Food +6.2%; Medical +4.7%; Housing +3.2% and drum roll please... Energy Commodities +48.3%.
Did you notice that energy & transportation are accelerating in the last 3 months?
What do you think will happen to the other items as these costs get passed on in the supply chain?
The Double Digit Inflationary Smokin Gun from Table 5 CPI-W
3 months ended June 07: Non durables less food, beverages & apparel +32.3%. Alright how about less food & apparel? +31.9%.
Thats right folks, excluding food & clothing, (a guys gotta have a drink ya know) your non durable consumables have gone up almost 33% in the last 3 months.
Looking at the other items in this column makes one shudder: Meats, Poultry, Fish & Eggs +10.2%; Dairy +15.3%; Durables -1.5%; Apparel -3.9%; PC's -11.7%
Does anyone in their right mind want to claim?
A. Inflation is tame and under double digits B. The hedonically adjusted government inflation statistics have a semblance to reality.
Alex, I'll take shills, cons, liars & expectation management for $500. Answer: What is the Fed?
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